Re: HOUSE OFFER

[robert <http://dummy.us.eu.org/robert>]

 > From: TOM LOVETT <http://www.yahoo.com/~tomlovettjr>
 > Date: Thu, 31 Jul 2003 13:16:40 -0700 (PDT)
 >
 > Robert, 
 > I would like to discuss this with you further. Both lenders are very confident 
 > that we would be able to close within 30 to 45 days. The different programs 
 > are able to provide the same service as a conventional loan.

"same service" is a relative term.  When you get an FHA loan, the lending
company must hire an appraiser that has gone through FHA training and must
do an FHA-approved appraisal.  What's more, a number of forms must be
filled out and reports filed.

 > In addition I 
 > have also been preliminary approved for a conventional loan.  I would not be 
 > wasting your time or mine if I did not have complete comfidence in this deal 
 > closing in a timely manner and with the stipulations that you have requested. 
 > I have apperciated your honesty throughout this process and hope that you 
 > would apperciate that i have been honest and forthcoming with you. I gave you 
 > a good-faith deposit in anticipation that you would in turn act in good faith 
 > on the offer that I have provided, especially since it was an offer at the 
 > asking price. I am a little supprised that you are entertaining accepting 
 > other offers, aside from back up offers, at this point.

In point of fact, the other offer is and has always been higher ($252K).
I wanted to go with you because your offer wasn't that much less and you
seemed very enthusiastic.

 > As I said I would like to discuss this with you.

Have you shown my "KNOWN DEFECTS AND PROBLEMS" list to any of these
lenders?  [If you need another copy, tell me.]  I suspect that this may
influence their opinion about how quickly closing could happen.  In
addition, if the lenders require any repairs, would you have the resources
(e.g., money) to do the repairs?

 > Best Regards, 
 > Tom Lovett