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stormdogETA: The seller has just signed the amendment, and I'm so relieved. I was really scared.
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Someday I'll write up the whole progression of events in looking for a home to buy. It's been a roller coaster.
Right now, we are waiting for the sellers to sign an amended offer with my name removed. We told the mortgage broker that we wanted a mortgage in our names together. She even asked for my credit history info. Then she said that we were approved under Miriam's name. We asked about getting my name on it, and she said that would need to go to another department for further consideration.
Our offer to purchase has to match the mortgage, so we sent an amended offer to the seller via our relator. They've had a day or two and have not yet signed. The condo is also still listed as active rather than under contract, so we're concerned that they may still be looking for a better offer, or maybe already have one waiting.
If that's the case, they may refuse to sign the amended offer. We're trying to find out from our lawyer (who already ignored the question once a little while back) what happens in that case. Would we still be legally bound by our original offer? We could probably back out of it due to the financing contingency, so we at least won't fall afoul of not honoring a binding contract. But if this falls through just because of the names on the offer, it will be really frustrating. Not just because we'll have to find another place to live ASAP.
I think this primarily the mortgage broker's fault. Why did she not get both our names on the mortgage in the first place? I would understand if the lenders would just not be willing to approve if I'm included, but she said that she'd have to check with a different department at Scotiabank to see if they'll approve me. Why did she not do that in the first place?
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Someday I'll write up the whole progression of events in looking for a home to buy. It's been a roller coaster.
Right now, we are waiting for the sellers to sign an amended offer with my name removed. We told the mortgage broker that we wanted a mortgage in our names together. She even asked for my credit history info. Then she said that we were approved under Miriam's name. We asked about getting my name on it, and she said that would need to go to another department for further consideration.
Our offer to purchase has to match the mortgage, so we sent an amended offer to the seller via our relator. They've had a day or two and have not yet signed. The condo is also still listed as active rather than under contract, so we're concerned that they may still be looking for a better offer, or maybe already have one waiting.
If that's the case, they may refuse to sign the amended offer. We're trying to find out from our lawyer (who already ignored the question once a little while back) what happens in that case. Would we still be legally bound by our original offer? We could probably back out of it due to the financing contingency, so we at least won't fall afoul of not honoring a binding contract. But if this falls through just because of the names on the offer, it will be really frustrating. Not just because we'll have to find another place to live ASAP.
I think this primarily the mortgage broker's fault. Why did she not get both our names on the mortgage in the first place? I would understand if the lenders would just not be willing to approve if I'm included, but she said that she'd have to check with a different department at Scotiabank to see if they'll approve me. Why did she not do that in the first place?
