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Tuesday, July 22, 2008

Buying a Condo

So yeah purchasing a home is really a royal pain. We had narrowed down to two condos. The nicer of the two had an oil furnace on life support, so we made an offer that would account for the cost of replacing the furnace. Well the seller wouldn't negotiate, so we said forget it and made an offer on the other place. That offer got rejected, couteroffered, which we counteroffered, and then was finally accepted. YAY! So after getting all the loans approved, searching for a condo, running the prices by the lender, and then finally getting our offer accepted, our lender informs us, oh by the way, the FHA loan you have is only VALID ON CERTAIN PROPERTIES, and your property is NOT ON THE LIST! Great! Thanks for telling us this when we took that type of loan, thanks for looking to see if the property we gave you prices for was on this list prior to us making an offer! Totally irresponsible on behalf of the lender. Ridiculous. So now we may not even be able to get a loan on this place, without 10% down. Anyone have a few grand floating around that they don't need? Sucks ass.

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