Posted by
Lili Rdz

I just got approved for a loan but the house I was interested in is now “currently off market” can i still buy home ?

“ Currently not for sale “

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I just got approved for a loan but the house I was interested in is now “currently off market” can i still buy home ?

By Lili Rdz   
Posted on Jan 30, 2021 in Topic: General
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“ Currently not for sale “
Status: Open
Viewed: 847
Asked by: Consumer
Posted: 9 months ago
Topic: General
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Diamond
Veronica Mullenix
about 8 months ago
Obtaining financing approval is one of the first steps to purchasing a home. Now, you must interview Buyer's Agents to find one you want to work with. Once you select your Realtor, then he/she will be your partner and you will work together to find a home that meets your needs, and your agent will negotiate the contract for you; and you'll soon be on your way to home ownership!


about 8 months ago
Bronze
Peggy Renee Ferrell-Sharp
about 8 months ago
There may be several reasons a home goes off market. The seller is not ready to sell, the seller does not want to sell or just life circumstances that makes timing not conducive to sell. What ever the circumstances, your Realtor can reach out to the seller or seller agent to see why it is currently off market and also show similar homes that may be even more appealing. That is why it is not good to get too attached to a home until you are under contract with that home. Your Realtor can give you vital information that can help ease the anxiety of home searching and buying. If you do not have a Realtor, I would be happy to assist you. My Phone or text number is 713-550-4670 or email at reneesharp@kw.com--Renee Sharp


about 8 months ago
Platinum
James Meador
about 8 months ago
Unless the house you were interested in says Option Pending, Under Contract, or Sold, that means the sellers withdrew the listing. You should have a realtor reach out to the listing agent or owners of the house to see what happened. They may still be interested in selling the property. If that doesn't work out, the pre-approval is usually good for 30-60 days or more depending on the lender. If you have any further questions or need some help with anything, please let me know! You can click on my name for my info. Good luck!


about 8 months ago
Bronze
Kelli Owens
about 8 months ago
Congratulations on getting your loan approval. That is the first step, the lender should have provided you with an approval amount. Stay under that amount and you should be okay. Lenders will look at the 3 C's of a loan, two of those are tied directly to you as the borrower. Credit and Capacity (credit score and capacity, your income) so those will stay with you not the home you liked. The collateral is the 3rd C, this is what you are using to secure the loan (the house) will need to appraise for the amount on your contract. Things to keep in mind while home shopping are the big no no's of home buying. Don't go out and quit your job. Don't apply for new credit. Don't max out your credit cards. Don't deposit large amounts into your bank accounts, unless you can source the money, don't withdrawal large amounts from your account, and finally, don't allow your account to go into the negative. For more homebuying answers, feel free to listen to my podcast, or check out my YouTube channel


Source:


www.thekoagentpodcast.com \nhttps://www.youtube.com/channel/UCUkVaCupYtr8LXFWF6yjmbQ/videos\n


about 8 months ago
Bronze
Shannon Sudderth
about 8 months ago
Congratulations for getting approved Lili! You have taken the first step to purchasing your new Home.To answer your questions, yes there are homes out there that will still be able to purchase. Getting approved gets your ready to be able to put in an offer when you find the next home that you fall in love with. Your next step will be to an agent to work with to help you negotiate will the sellers agent once you have decided on a property. In the current market, houses are flying off the market faster than they are getting listed.Being pre approved by your lender will give you a hands up on not having to wait on a Pre-Approval before submitting an offer. Be sure to ask you lender and or agent about the many Down Payment Assistance programs(DPAs) out there available for buyers :) Hope this helps Lili!


about 8 months ago
Diamond
Joe Applewhite
about 8 months ago
Was it a PreApproval for only that home? Why is it off market? It may still be available. Is it a new build? The builder may have that exact floor plan available close by. I wish I had more info so I could help you more. When my lender preapproves someone, they are generally preapproved for all homes with similar attributes. Contact me.


about 8 months ago
Bronze
Dylan Raymond
about 8 months ago
Yes you can. The good thing about having that approval in hand let you know that you are pre-qualified to purchase a home. Now you can proceed to locate an agent that can help you in your search and work on your behalf to find that home that is right for you and you family.


about 8 months ago
Gold
Penny Clissold
about 7 months ago
It depends. If home was withdrawn it’s usually a temporary withdrawal to do repairs. We had a lot of homes pulled from the market when all the pipes broke. They are all coming back on now. Have your realtor find out for you . They can called the listing agent and get the scoop.


about 7 months ago
Bronze
Christine Kalmbach
about 6 months ago
Congratulations on getting a home loan approval to buy a home! I know it must be extremely disappointing to find out that the home you were interested is "currently off the market". If you have an agent, you should reach out to them to contact the listing agent to see what the reason was and if it may be coming back on the market soon to see if may put it an offer if it comes back on the market. If not, your agent can run a home search for you based on your needs, wants and desires. Who your realtor is matters! Make sure you work with an Accredited Buyer's Representative who has been trained by the National Association of Realtors to be an advocate for you! Your realtor should be able to locate homes for you based on your criteria - be flexible - we are currently in a Seller's Market and there are more buyers than homes for sale and so the competition is tough! A realtor is a confidante and a trust to lean on and rely upon to guide through every step of the home buying process! That's why your realtor matters! I am an ABR and would be honored to help you find your next home! Blessings over your home search!


about 6 months ago
Diamond
Anthony Taylor
about 3 months ago
I hope by now you have found a home? If not I'll help make it happen please call my office and let's find what you need and want.

Thanks
Anthony Taylor Realty
www.anthonytaylorrealty.com
281-948-8839


about 3 months ago
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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