All Forum Posts by: Raine Levans

My loan was approved, contingent upon their repairs and the 20 odd days until the 90 day rule had passed and I offered to pay them for those days, even though I could not take possesion yet.  They had accepted my bid knowing I was using fha, when asked about 90 day rule they said it did not apply.  When underwriting said it did, they said they would wait untill 12/13 and would not take other offers, and as of 11/18/16 they had not completed necessary repairs. My major complaint is stringing me along. If they knew that they would not wait, they could have informed me.  If any of the agents, lenders, brokers,or title people would have noticed what my mom in early october and underwriter did i would have moved on to a different property.  I am not knowledgable in these matters but when i made offer and questioned all of those people a week later regarding the 90 day rule everyone of them said "no, this is not a problem, it does not apply in this situation"!   

My loan was approved, contingent upon their repairs and the 20 odd days until the 90 day rule had passed and I offered to pay them for those days, even though I could not take possesion yet.  They had accepted my bid knowing I was using fha, when asked about 90 day rule they said it did not apply.  When underwriting said it did, they said they would wait untill 12/13 and would not take other offers, and as of 11/18/16 they had not completed necessary repairs. My major complaint is stringing me along. If they knew that they would not wait, they could have informed me.  

I had been approved for 130k, offered well over asking price, if they paid closing costs.  As the saying goes, time is money- and that infuriates me the most.  Two and a half months is alot when it comes to real estate in the Las Vegas valley.  i am again at square one. searching for a property when i had one and thought would close on 11/22 and was just going to be delayed a few more weeks.  Also, by paying off my car- limits me on any other options, reducing my cash reserves by 16k.  Since the seller will not return calls and is selling to someone else, asking them to do anything (such as closing costs) is mute.  If I cant find one by next week...i guess i will just have to realize the rich get richer and the poor get screwed!  

I had my own agent and lender.  They were aware of the 90 day rule, because another property I looked at they said I couldnt enter into.  My mom questioned the date in early october when she looked up property on the county accessor site.  Brought it up to both agent, lender, and seller- they all said no in was okay.  That there was a missing title in the sequence.  Figured they knew more than my mom.  Hated having to say- you were right, Mom.  Feel like I was used by the seller, so they could find out what they repairs they needed to complete, wasting my time and to verbally agree not to put it back on market and then refuse to return any attempts to contact, by both sellers and their agent.  If I was not diligent in checking on repairs, I would not have found out until next week when contract can be entered into.  The seller and their agent knew my funding was fha, knew about 90 day rule, and accepted my bid.  Shouldn't there be someway to hold them to agreement? They accepted bid and were aware that legally they could not sale it to an fha buyer for ninety days!  For it to get caught by underwriter, voiding the contract- for them to say they would not put it back on market- and then change there mind-  shouldnt they be required to inform somebody? Frustrated and want to know who dropped the ball? 

I had offered about 3k over asking 120k, so seller was doubling the purchase price.  Is my real estate agent, lending agent, broker, or the seller and their agents delirict in this transaction?  I Need a 3/2 home in henderson/las vegas area prefer no hoa ready to move in yesterday. figure best way to find one is ask the ones who already have some.   Pre-underwritten and tired of doing all the right things and ending up behind where i started from.  

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i am a first time buyer in the hope program who needs to go Fha. October 3rd made an offer on a home that was in process of being rehabbed. They accepted offer, knowing I would be using Fha. I have done everything required, paid off my car to lower my debt ratio, havent spent any monies, found insurer and paid for inspections and appraisals. I was told expect november 22 closing. Got a call from underwriter on november 15 saying loan was approved pending the repairs the seller was to make... except the contract could not be legally entered into until after December 13th because the house was bought at auction for 60k and sold for 63k. Both titles were recorded on 9/13/16. It was dissapointing since I had to be out of my apartment already and staying in a weekly. I had inquired if i could rent property from them in begining of November but property was not yet ready. They verbally said waiting three weeks would be okay, they would not put it back on market or anything (likely because they were already fully aware of the 90 day rule)

I was hopeful, since i had everything in place, the underwriter said process shouldnt take too long.

After thanksgiving holiday checking to see if the dryer vent and killbox and been taken care of, the buyer could not be reached. Finally reached their broker, who said the property was contingent with another buyer. (Who also is fha financing) broker said the other party have a loophole around the 90 day rule. Do not know what that is, except that maybe because it will be up in a week.

The seller has not even given me courtesy call that I need to resume my search. Shouldn't i have some sort of recourse? They seller falsely claimed they were not flipping houses. When I looked up the guy who bought property at auction- he also provided several homes to rehab and flip to now cancelled tv show about flipping homes in vegas. I am a naive low income first time homebuyer- (or I was planning to be!!!) Now I am stuck in a weekly-with my belongings in storage with local housing inventory tighter and more expensive- and really do not have money to pay for additional inspections, appraisals, rentals and storage. Let alone a lawyer. Any suggestions or advice?

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Would love to be one of the "haves" instead of always the "have nots"!  So, asking all ypu "haves". What can i do about this deal? 

i am a first time buyer in the hope program who needs to go Fha. October 3rd made an offer on a home that was in process of being rehabbed. They accepted offer, knowing I would be using Fha. I have done everything required, paid off my car to lower my debt ratio, havent spent any monies, found insurer and paid for inspections and appraisals. I was told expect november 22 closing. Got a call from underwriter on november 15 saying loan was approved pending the repairs the seller was to make... except the contract could not be legally entered into until after December 13th because the house was bought at auction for 60k and sold for 63k. Both titles were recorded on 9/13/16. It was dissapointing since I had to be out of my apartment already and staying in a weekly. I had inquired if i could rent property from them in begining of November but property was not yet ready. They verbally said waiting three weeks would be okay, they would not put it back on market or anything (likely because they were already fully aware of the 90 day rule)

I was hopeful, since i had everything in place, the underwriter said process shouldnt take too long.

After thanksgiving holiday checking to see if the dryer vent and killbox and been taken care of, the buyer could not be reached. Finally reached their broker, who said the property was contingent with another buyer. (Who also is fha financing) broker said the other party have a loophole around the 90 day rule. Do not know what that is, except that maybe because it will be up in a week.

The seller has not even given me courtesy call that I need to resume my search. Shouldn't i have some sort of recourse? They seller falsely claimed they were not flipping houses. When I looked up the guy who bought property at auction- he also provided several homes to rehab and flip to now cancelled tv show about flipping homes in vegas. I am a naive low income first time homebuyer- (or I was planning to be!!!) Now I am stuck in a weekly-with my belongings in storage with local housing inventory tighter and more expensive- and really do not have money to pay for additional inspections, appraisals, rentals and storage. Let alone a lawyer. Any suggestions or advice?

Write your post0 VOTES

Would love to be one of the "haves" instead of always the "have nots"!  So, asking all ypu "haves". What can i do about this deal? 

i am a first time buyer in the hope program who needs to go Fha. October 3rd made an offer on a home that was in process of being rehabbed. They accepted offer, knowing I would be using Fha. I have done everything required, paid off my car to lower my debt ratio, havent spent any monies, found insurer and paid for inspections and appraisals. I was told expect november 22 closing. Got a call from underwriter on november 15 saying loan was approved pending the repairs the seller was to make... except the contract could not be legally entered into until after December 13th because the house was bought at auction for 60k and sold for 63k. Both titles were recorded on 9/13/16. It was dissapointing since I had to be out of my apartment already and staying in a weekly. I had inquired if i could rent property from them in begining of November but property was not yet ready. They verbally said waiting three weeks would be okay, they would not put it back on market or anything (likely because they were already fully aware of the 90 day rule)

I was hopeful, since i had everything in place, the underwriter said process shouldnt take too long.

After thanksgiving holiday checking to see if the dryer vent and killbox and been taken care of, the buyer could not be reached. Finally reached their broker, who said the property was contingent with another buyer. (Who also is fha financing) broker said the other party have a loophole around the 90 day rule. Do not know what that is, except that maybe because it will be up in a week.

The seller has not even given me courtesy call that I need to resume my search. Shouldn't i have some sort of recourse? They seller falsely claimed they were not flipping houses. When I looked up the guy who bought property at auction- he also provided several homes to rehab and flip to now cancelled tv show about flipping homes in vegas. I am a naive low income first time homebuyer- (or I was planning to be!!!) Now I am stuck in a weekly-with my belongings in storage with local housing inventory tighter and more expensive- and really do not have money to pay for additional inspections, appraisals, rentals and storage. Let alone a lawyer. Any suggestions or advice?

i am a first time buyer in the hope program who needs to go Fha.  October 3rd made an offer on a home that was in process of being rehabbed.  They accepted offer, knowing I would be using Fha.  I have done everything required, paid off my car to lower my debt ratio, havent spent any monies, found insurer and paid for inspections and appraisals. I was told expect november 22 closing.  Got a call from underwriter on november 15 saying loan was approved pending the repairs the seller was to make... except the contract could not be legally entered into until after December 13th because the house was bought at auction for 60k and sold for 63k.  Both titles were recorded on 9/13/16.  It was dissapointing since I had to be out of my apartment already and staying in a weekly.  I had inquired if i could rent property from them in begining of November but property was not yet ready.  They verbally said waiting three weeks would be okay, they would not put it back on market or anything (likely because they were already fully aware of the 90 day rule) 

I was hopeful, since i had everything in place, the underwriter said process shouldnt take too long.

 After thanksgiving holiday checking to see if the dryer vent and killbox and been taken care of, the buyer could not be reached.  Finally reached their broker, who said the property was contingent with another buyer.  (Who also is fha financing) broker said the other party have a loophole around the 90 day rule.  Do not know what that is, except that maybe because it will be up in a week.

The seller has not even given me courtesy call that I need to resume my search.  Shouldn't i have some sort of recourse?  They seller falsely claimed they were not flipping houses.  When I looked up the guy who bought property at auction- he also provided several homes to rehab and flip to now cancelled tv show about flipping homes in vegas.  I am a naive low income first time homebuyer- (or I was planning to be!!!) Now I am stuck in a weekly-with my belongings in storage with local housing inventory tighter and more expensive- and really do not have money to pay for additional inspections, appraisals, rentals and storage.  Let alone a lawyer.  Any suggestions or advice?