Be careful of the recommended pre qualify from countrywide it is a pre qualify. I pre qualified then due to a low purchase price the would not finance the house.
I had to us a local bank & yes I would have lost my deposit. Make sure you have all your ducks lined up in a row before you bid.
Have bought from Hudson & Marshall, Williams Auction and now REDC.
So far all have gone well, just know that deposits can be lost..
Although they seem to make it sound like they are playing hardball, there seems to be no problem getting out of the contract. I was high bidder on a beachfront condo, was supposed to be acash deal I let them know I was financing, lender said no problem. It ws a problem and they could not get the loan through. After a couple of extension request, I had to back out of the deal expecting to lose my 8,000 but they refunded all of it.
Be careful of the recommended pre qualify from countrywide it is a pre qualify. I pre qualified then due to a low purchase price the would not finance the house.
I had to us a local bank & yes I would have lost my deposit. Make sure you have all your ducks lined up in a row before you bid.
Have bought from Hudson & Marshall, Williams Auction and now REDC.
So far all have gone well, just know that deposits can be lost..
one must be aware of the difference between pre-qual, and pre-approved.
Thanks all for your valuable input...
--Mike
Although they seem to make it sound like they are playing hardball, there seems to be no problem getting out of the contract. I was high bidder on a beachfront condo, was supposed to be acash deal I let them know I was financing, lender said no problem. It ws a problem and they could not get the loan through. After a couple of extension request, I had to back out of the deal expecting to lose my 8,000 but they refunded all of it.