Comments on: Chaos in Condo Land http://360digest.com/2009/02/01/chaos-in-condo-land/ Seattle Real Estate Blog for those interested in Seattle real estate, popular culture, tech, news and opinion. Thu, 26 Jan 2012 04:16:27 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: Drphillipshomesforsale http://360digest.com/2009/02/01/chaos-in-condo-land/comment-page-1/#comment-40488 Drphillipshomesforsale Sat, 07 Feb 2009 03:38:19 +0000 http://360digest.com/?p=1138#comment-40488 When will the banks loosen up on the money? The Realtors are working twice as hard for half the pay. =o( When will the banks loosen up on the money? The Realtors are working twice as hard for half the pay. =o(

]]> By: Marlow Harris http://360digest.com/2009/02/01/chaos-in-condo-land/comment-page-1/#comment-40406 Marlow Harris Tue, 03 Feb 2009 03:14:37 +0000 http://360digest.com/?p=1138#comment-40406 I think all the lay-offs in every industry will have a cumulative effect, but one thing to keep in mind is that even though MS is laying off, they're also still hiring in selected departments. I think all the lay-offs in every industry will have a cumulative effect, but one thing to keep in mind is that even though MS is laying off, they’re also still hiring in selected departments.

]]> By: Frank http://360digest.com/2009/02/01/chaos-in-condo-land/comment-page-1/#comment-40405 Frank Tue, 03 Feb 2009 02:49:17 +0000 http://360digest.com/?p=1138#comment-40405 More of a question then a comment. Will the Microsoft layoffs effect the situation? More of a question then a comment. Will the Microsoft layoffs effect the situation?

]]> By: “Make sure you have a Financing Conting … | The Hotlist http://360digest.com/2009/02/01/chaos-in-condo-land/comment-page-1/#comment-40403 “Make sure you have a Financing Conting … | The Hotlist Tue, 03 Feb 2009 01:03:19 +0000 http://360digest.com/?p=1138#comment-40403 [...] sure you have a Financing Contingency in your contract, so you can get your earnest money back if you are unable to get your loan.”  from the [...] [...] sure you have a Financing Contingency in your contract, so you can get your earnest money back if you are unable to get your loan.”  from the [...]

]]> By: Rhonda Porter http://360digest.com/2009/02/01/chaos-in-condo-land/comment-page-1/#comment-40388 Rhonda Porter Mon, 02 Feb 2009 14:33:03 +0000 http://360digest.com/?p=1138#comment-40388 Actually, they used Vulcan's preferred mortgage lender--Countrywide. It was not a mortgage broker. Regardless, I think using a site (or builders) agent or loan originator will typically be a bad idea...they work for the seller. I had a call from a person who was stuck in a similar situation (it's not the person in the article) where the lender had them approved for a loan that didn't make sense (stated income). This was done well before the building was complete and the buyers life had changed dramatically. He had time to think about the proposed mortgage and wanted out... The seller/builder responded "my lender says you're preapproved...sorry...can't refund your earnest money". Actually, they used Vulcan’s preferred mortgage lender–Countrywide. It was not a mortgage broker.

Regardless, I think using a site (or builders) agent or loan originator will typically be a bad idea…they work for the seller.

I had a call from a person who was stuck in a similar situation (it’s not the person in the article) where the lender had them approved for a loan that didn’t make sense (stated income). This was done well before the building was complete and the buyers life had changed dramatically. He had time to think about the proposed mortgage and wanted out… The seller/builder responded “my lender says you’re preapproved…sorry…can’t refund your earnest money”.

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