IIRC growing up almost every time we moved the peoples buying our house were subject to sale of their house. I'd rather take lower price for my old place than have to sell it, pay to rent a place, pay to move all my stuff, pay to store some of it, then pay to move everything again. Especially if you have kids and moving is now 5x as annoying.
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Originally Posted by quasi
We had an offer fall through because the people making the offer didn't qualify for the mortgage. How do you not know what you can borrow before you start looking at homes? The first thing I did before I even considered listing was get my financing in place and I knew I wouldn't have any issues, if it's even close you really should get your financing in place.
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When a family member worked at the bank they told me it wasn't uncommon for someone to go find out what they qualify for, then go finance a new vehicle or something and then be shocked when they went to actually buy a house that they weren't approved for as much as before.