Here is the scoop:
I have just got involved in 2 homes (one rental and one primary residence). I am real close to closing on both but some other oppurtunites have come up that I need the money. I have put a deposit on one for 3k and the other for 1k. Not really worried about losing the deposit.
I feel real bad and would still do 1 of them but doing both just takes too much money out of the game of life for me (close to 30k). I surely don't want to screw anyone and plan on keeping one of them but haven't decided which one.
Is this normal? Do people pull this, this late? What do I do/say?
I am losing sleep over this but I have to do what is best for me. I have bought 2 other rentals the past month and they have went thru flawlessly.
Some different things have popped up the past 2 weeks and better oppurtunites have arrived. I may actually move and do some other things outside of RE.
I know I had purchases contingent on inspection and apprasials but have'nt signed anything after I had these done. I feel pretty shitty about this.
Someone fill me in if people ever do this? One of the women took her home off the market. Worse case scenairo I buy both and live with it but really want to do some other things that I looked into and will be handcuffed if I pull this off. Though some of the RX'ers may be able to help.
If I do back out what excuse do I use to loan officer and seller? I assume be honest but how or what to people say in this situation? Is there a professional term (no jokes please).
I have just got involved in 2 homes (one rental and one primary residence). I am real close to closing on both but some other oppurtunites have come up that I need the money. I have put a deposit on one for 3k and the other for 1k. Not really worried about losing the deposit.
I feel real bad and would still do 1 of them but doing both just takes too much money out of the game of life for me (close to 30k). I surely don't want to screw anyone and plan on keeping one of them but haven't decided which one.
Is this normal? Do people pull this, this late? What do I do/say?
I am losing sleep over this but I have to do what is best for me. I have bought 2 other rentals the past month and they have went thru flawlessly.
Some different things have popped up the past 2 weeks and better oppurtunites have arrived. I may actually move and do some other things outside of RE.
I know I had purchases contingent on inspection and apprasials but have'nt signed anything after I had these done. I feel pretty shitty about this.
Someone fill me in if people ever do this? One of the women took her home off the market. Worse case scenairo I buy both and live with it but really want to do some other things that I looked into and will be handcuffed if I pull this off. Though some of the RX'ers may be able to help.
If I do back out what excuse do I use to loan officer and seller? I assume be honest but how or what to people say in this situation? Is there a professional term (no jokes please).