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Mortgage question


CicncyKid

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Anybody have a situation like this? We are attempting to sell our house. We have an offer and the buyer has a pre-approval letter. Basically everything was going great until last week when the buyer's lender informed us that they wouldn't be able to close this week because underwriting was taking longer than anticipated and the buyer wouldn't be approved in time. Since that time we keep waiting on the lender and they keep saying they are checking on the status. Meanwhile time continues to tick away and no closing date is agreed upon. Is there anything we can do as a seller? I know we could back out of the deal, but in this market that would be considered unwise. I am just getting sick of getting no where with this process.

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pre-approval letter doesn't really amount to much. if they can't get financing on the terms they want then you are SOL. you are free to keep your house on the market and consider offers until someone is under contract.

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