Thank you to everyone for the replies this is very helpful. I sent the agent a request today to either a) let us delay the closing or b) if the seller is open to it let us put $5,000 down and pay the rest via owner financing. We had already proposed owner financing previously and the seller was not interested, but perhaps the $5,000 down offer will make it more appealing. Somehow I doubt it though, and I think the agent is probably pretty unhappy since the closing was scheduled on Monday.
@Lynn McGeein interesting I never thought of a business loan using the house as collateral. This sounds like something maybe a credit union or local bank would be more apt to do unless you knew some organizations specifically? I was looking at secured personal loans where I could use my car as collateral but the highest I could seem to prequalify for was 10k or less.
@Guy Yoes My mom makes a small amount from social security each month (around $650). When we first proposed owner financing to the seller we explained that the monthly payment would be covered by her social security, but the seller didn't seem interested. However, they had the house on the market for a few weeks and had already lowered the asking price once, perhaps they would be more open to it given the conditions of the market. In regards to my dad, my parents have been divorced since 1988 and my dad has always been distant (geographically and emotionally). He's a good guy at his core, but let's just say he has some issues.
@Sharon Rosendahl yeah I should probably spend more time contacting local credit unions. To be honest I was just hoping to do it with friends of the family or my dad but since that doesn't look like it's going to work out local banks/credit unions are probably the best bet. Today I requested a delay OR if we could put 5k down and owner finance the rest on the property (the seller wasn't interested in owner financing previously but perhaps the 5k down would make it more appealing). My mom makes about $650 per month in social security which would cover the monthly payment. I think my buyer's agent is getting pretty frustrated with me at this point though, this is my first home buying experience and we've had some back-and-forths, ups and downs to say the least. But I suppose if my agent gets pissed at me I could still work directly with the seller and her agent right? I mean my buyer's agent is the one who showed me the house so I'm grateful for that, but if he stops communicating with me I could theoretically still get the place?
