Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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.
Private Lending & Conventional Mortgage Advice
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 about 6 years ago,

User Stats

1
Posts
0
Votes
Alexandra Huang
0
Votes |
1
Posts

Backed out of an offer as a buyer, lender says they need to pull

Alexandra Huang
Posted

We're in the process of buying our very first home. It's residential only.  We had put an offer on a house, had an inspection done, and essentially decided to back out of the house  due to the results of inspection.  Our lender told us that since we're not moving forward with the house we need to draft up a new pre-approval?  And in order to do so, needed to pull our credit again. I was just curious if this is normal or even necessary. Because our last pre-approval  and credit pull was less than 90 days ago. They said that it's because our credit application was married to the previous mortgage application. But that doesn't make sense to me if the credit was pulled before we even had a mortgage drawn up. It's my understanding that the credit pull was only related to our pre-approval status. Our credit has only gotten better since that time so I'm not worried there, but I just wasn't sure if this was really necessary to do a hard pull again.

Loading replies...