All Forum Posts by: Tralecia K Young

Got the denial letter from my lender after giving them a letter of explanation for the property. My mortgage contingency was over on the ninth I got my disapproval on the ninth and it was sent over on the ninth. That was the final step in getting me released from the contract. My lawyer told me that he sent over the cancellation to release my funds the sellers attorney has not signed the release form. He also stated that they don’t have to sign it nor is there a timeframe but wouldn’t that defeat the purpose of having the mortgage contingency if it doesn’t protect my earnest deposit. What should I do now??

@Kim Banks

Thank you so much I really needed to hear this I was also taking that into consideration. I was going to draft a formal written notice regarding the condition of the property because he was not very truthful on the property disclosure either. 

@Jonathan R McLaughlin

I think that’s what I’m going to do I’m going to reach out to her broker to see how we can get me out of this contract in the best way possible so I can start looking for a new home.

@Allen L.

Yes I will be driving by and taking pictures so I can send it to my lender. Thank you so much for your input I really do appreciate it.

@Joe S.

Yes I’m actually having a contractor write up an invoice of everything that he noticed about the property and I’m going to be submitting it with my cancellation.

@Paul Defngin

Thank you those were my thoughts exactly I’m trying to get everything together so once everything goes through and I get my earnest money deposit back I will be working with a new realtor. 

@Eric James

I did take responsibility now I’m here trying to fix it but thank you for your input. It’s a life learning lesson it happened and now it’s time to move on.I’m going to except whatever outcome it is but in the meantime going to see what I can do to get it remedied the best way.

@Lydia S.

Thank you so much for providing me with a clear state of mind and I hope my lender let the appraiser know about that before hand because it’s more of a sunken roof versus a clasped roof due to water damage.

@Eric James

Well technically I had a professional advise me during this transaction so she persuaded me to do that in order for me to get the house. So I went off of a person that I trusted that has knowledge that went to school as well as got their license to help me purchase a house. But then again nowadays people are out just looking for commission versus having the best interest for the client.

@Jack Orthman

I would like to start off by saying thank you for all of the information you gave me pertaining to my situation. I will be taking these things into consideration when presenting this to my mortgage lender, my real estate agent, and my attorney. I will also start time stamping paperwork regarding me wanting to cancel my real estate purchase agreement contract from my initial conversation with my agent. I will also resend an informative letter to my mortgage lender letting them know that I have sent this request to my agent and I am waiting for the seller and my attorney to review the paperwork. I am also going to ask if they use the same person for the reinspection to pass for appraisal because if so, does he offer a full appraisal or is he just going back to check the things that didn’t pass the first time? I will be doing this because I want to make sure I am taking the proper steps into getting my earnest money back based off of the steps that I am going to be taking going forward.