Is it typical in Texas for a FHA buyer to complete the home inspection, lender appraisal and open escrow with a deposit check, prior to receiving short sale approval letter from the seller's lender?

Question

Answers Subscribe to Answers

Sort

Rainer
279,878

Dipti Thakkar

LAER Realty Partners - Andover, MA

On a team with Praful Thakkar

I am not sure.

May 04, 2018 10:33 PM

Upvote

1

Praful Thakkar

Burlington, MA

Rainmaker
630,251

Ajay Pandya

e-Merge Real Estate Unlimited - Columbus, OH

Realtor Ajay Pandya

This depends on the contract.

Oct 02, 2017 08:44 PM

Upvote

1

Praful Thakkar

Burlington, MA

Rainmaker
4,800,132

Gabe Sanders

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL

Stuart Florida Real Estate

I work in Florida, so I'm not sure if this would be different in Texas. But, I rarely see a buyer going forward with such expenses prior to the short sale approval. Though, I have seen some agents that will try to make buyers do this as a condition of the contract to attempt to lock the buyers into the transaction.

Dec 13, 2014 02:16 AM

Upvote

1

Doyle Davison

Huntington Beach, CA

Rainmaker
666,308

Mike Young

203kOnLine.com, covering the USA - Stallings, NC

FHA 203k Consultant 916-758-1809

I'm surprised that you aren't getting your question answered. I talked with our offices in Houston and Dallas and they indicate as I would think that we don't want our client spending any money till we have an accepted offer. As an investor I would never tie up money with an escrow deposit till we had an accepted offer.

Dec 12, 2014 11:26 PM

Upvote

1

Gabe Sanders

Stuart, FL

Ambassador
6,419,469

Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

Forestland Experts! 715-204-9671

Hard to say what is typical, but if that is their policy and you want the property bad enough...

Aug 15, 2019 07:14 PM

Upvote

Rainmaker
3,071,489

Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Haven Express @ Keller Williams Arizona Realty

Dipti nailed this one!

Jun 16, 2018 05:03 AM

Upvote

Rainmaker
4,319,773

Praful Thakkar

LAER Realty Partners - Burlington, MA

Metro Boston Homes For Sale

Every state guidelines, every lender's requirements, and every contract is different when it comes to short sales.

Oct 02, 2017 08:51 PM

Upvote

Back to Top

I work in Florida, so I'm not sure if this would be different in Texas. But, I rarely see a buyer going forward with such expenses prior to the short sale approval. Though, I have seen some agents that will try to make buyers do this as a condition of the contract to attempt to lock the buyers into the transaction.
I'm surprised that you aren't getting your question answered. I talked with our offices in Houston and Dallas and they indicate as I would think that we don't want our client spending any money till we have an accepted offer. As an investor I would never tie up money with an escrow deposit till we had an accepted offer.
Hard to say what is typical, but if that is their policy and you want the property bad enough...
Every state guidelines, every lender's requirements, and every contract is different when it comes to short sales.