Selling condo home house real estate mortgage please read on...?

Hi my buyer changed the contract





She is now putting down only 5 percent due to other family members bailing on her for the cash. She is going to refinance her home which is worth alot and get a mortgage of 80/20





She is a dentist and her husband is a dentist. The contract says she has 45 days to get a mortgage. Do you see any trouble in her getting one? I mean my apartment is worth like 450,000 and her apartment is worth like 700,000.





It is such a bad market and alot of people interested in my apartment has decided to hold off buying so I will sign due to dont think going to have a buyer for the price anytime soon.





WHAT DO YOU THINK????Selling condo home house real estate mortgage please read on...?
Buyer cash down doesn't really make any difference to you, the seller. As long as the loan funds and everything, you get every penny coming to you right upfront.





On the other hand, this looks like an investment property, and their current home is going to be 100% encumbered by loans?. A Cash out Refinance loan. Plus they're getting a 95% Loan to Value loan on investment property?





That sends ';cash flow warning'; signals flowing through my brain, and I'm a loan officer, not an underwriter. Underwriters are a little more intense about things like that. This is a situation that's right on the edge of possibility the way the market is right now - and that's *if* they can do a full documentation loan and prove they actually make the requisite money to qualify. Bad market or not, you're tying your property up in escrow, and by the time you discover it's not going to happen, you'll be right in the middle of Christmas Season. Nobody wants to move the Christmas Tree,





I'd want my client to have actual control of the deposit before I counseled them to sign something like that. Once it's in my client's possession, let them sue to get it back - if it's even worthwhile to the other side.





Oh, and if this transaction falls through, get yourself an agent with a clue.Selling condo home house real estate mortgage please read on...?
Getting an 80/20 is almost unheard of right now. I'd be careful.
1) Do you have a broker?





2) If not, get one. Seriously, brokers have seen hundreds of buyers, , some 1,000's and depending on their ability they can screen your buyers and make sure the offers are real.





3) If the price is right, you should sell.





4) A bad market? You guys crack me up. Interest rates are down, depending on the area - unemployemnt is down, buyers have been scared because of 7 states bad economies - that's it - 7 states + MEDIA BULL, spin spin spin - ';oh th emarket is horrible, LOL';: Florida+Nevada being the worst of the 2 - and that is temporary, maybe 10 months more before they level off and rebound trememndously.





So whatever, stay out of the buying and selling now and let us investors buy up all the good stuff, and when the market ';picks up'; in YOUR eyes, we'll double our money.





Today's market is a result of day traders, and inexperienced investors trying to make a quick buck and buying more than they can afford. Good, I hope you all learned your lessons.