Buying A Home
lolc
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
cg-pm52111 come in please!
Hey! Congrats on your short sale moving along! 
Question regarding financing: Please tell me the steps you took?
We have excellent credit.... got our pre-approval from our bank up to a certain amount (we are well below that amount).
But we can't really do anything yet since we are still waiting for the bank to accept or negotiate our offer price. At least, I don't think we can do anything?
We pretty much need to wait until we get the acceptance, then we need to go back to our bank and start everything, yes? What has your experience been regarding the financial side of things? You can PM me if you'd prefer... just let me know here since the nest never notifies me if i have a PM.
Re: cg-pm52111 come in please!
Thanks! We're very excited. I'm just going to post here, in case it helps someone else.
#1- We had to do the inspection before the offer even went to the bank (per seller's request) so that we could walk if we wanted before anyone wasted all that time while we were waiting.
#2 - I think our mortgage person put our loan into underwriting while we waited for the other bank to accept to see if anything would come up (stuff did and we even had to do some serious shifting, thought we weren't going to be able to get financing, but ended up figuring something out). This was NOT something we asked our mortgage person to do - he just did it, which I'm really glad he did. Anyway, they did the appraisal within 5 days (I'm thinking the mortgage person has someone practically on standby).
FWIW, we are doing FHA and I think there was some other paperwork we needed to do that took a bit of time and our mortgage guy just really wanted to be on top of it. I would just ask the bank if they can start working on stuff now. It never hurts to ask. Besides, they're going to have to do it eventually anyway regardless of which property you're going to buy.
I should also add the we decided to finance with the mortgage company that is affiliated with the seller's real estate agent. He's been great and I think them working together has really helped to push this along and he was kept in the know during the whole process (probably even more than we were!).
Phew! Sorry that was so long. Good luck with anything and let me know if you have anymore questions. I'm happy to help!