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i am preapproved for a loan for 85000.I have to put 3% down and my real estate agent put a bid in for 82000 wonder were the 3000 went? Wouldn't they put the bid in for the whole loan amount?thank you |
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I'm not sure what you mean by "my agent put in a bid". Do you mean that your agent helped you make an offer to pay $82,000 for the property? Perhaps your agent thinks the place is worth no more than that, or that you might be able to buy it for less that the $85,000. There's no point in borrowing more if you could buy the place for less, if the seller will accept a lower offer.
If I'm not understanding your question right, please do write again with more details. |
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Edith
Originally published on May 2, 2008 |
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