Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

26
Posts
2
Votes
Sarah Pratt
  • Haslet, TX
2
Votes |
26
Posts

77 days later and buyer's were just denied financing

Sarah Pratt
  • Haslet, TX
Posted

Some of you may have read my posts here

https://www.biggerpockets.com/forums/311/topics/35...

and

https://www.biggerpockets.com/forums/311/topics/36...

Thought I'd let you all know that today, 77 days past the day we signed a contract with the buyer's, underwriting came back and said the buyer's were denied financing.  They claim that the male buyer hasn't been at his job long enough and he isn't a stable buyer.  The man has been at his job 8 months and in the same industry for a long time.  His previous company closed down and he even went and took a picture of the outside of the building to prove it was closed!  Underwriting kept telling the loan officer if they did x, y, and z we would get a clear to close and even a few days ago said it would be coming any day now.  Then today, denied.  

Thoughts?  Solutions?  

Most Popular Reply

User Stats

17,425
Posts
30,068
Votes
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,068
Votes |
17,425
Posts
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

Many lenders will not lend to you if you havnt been at the same job for 2 years.

Part of the roll of your agent is to screen the offers. What makes up the strongest offer often is the highest offer, but the ability to close.  A preapproval letter from a strong lender with a reputation for closing deals is one of the most important aspects to an offer package.

business profile image
District Invest Group
5.0 stars
44 Reviews

Loading replies...