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Updated almost 6 years ago on . Most recent reply

User Stats

14
Posts
1
Votes
Ricardo Nieto
  • Real Estate Agent
  • San Francisco Bay Area
1
Votes |
14
Posts

Will a seller wait for you to be approved by your lender

Ricardo Nieto
  • Real Estate Agent
  • San Francisco Bay Area
Posted

This question may seem odd and novice but will a motivated seller wait for you to be approved by your lender?

I dont mean this in a typical sense. Me and my spouse has cash reserves "under the mattress" and our lender said to deposit them and come back in 2 months and it wont be an issue. All other requirements for the loan should have no problem being met as well.

It's been about a month since we deposited and the property is just nearing being on the market for 50 days.

I was thinking if I should just reach out to the seller and see if they'll take my offer contingent on me getting my loan approved (most likely) but I cant start the application until another month from now. 

Any advice? Seems like a long shot but maybe they'll save it for us, who knows.

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