You Won't Believe It--4th Buyer Can't Get A Loan!
I've "sold" my house three times in six months. Each time the contract fell through because the buyers couldn't get the mortgages for one reason or another, nothing to do with my house. All different reasons. All different banks. Well, I have another buyer who made an offer. He is pre-approved. I warned him about how difficult the banks have been. But this time there was nothing I could think of that they'd reject with this guy. He's local, he has a good job, he's putting the right amount of deposit down, he doesn't have to sell a house, great credit, loan-to-debt ratio great, house appraised above price, etc. Lo and behold, he called me today to tell me the bank said my house is too many miles from his job! He is trying to get a transfer so it's not completely dead yet. But what the heck?! I asked him if the bank knows my roses are red because they might only be giving out loans for pink roses. I don't care what anyone says. They are not parting with the money. And now they've gone so far they are hurting themselves because I heard even foreclosures aren't selling.