Like many others in this space I am in a HCOL area where the housing market is bananas. Everyone I talk to says the same thing - to win a bid you need to be at 20 pct down payment, waive inspection and appraisal contingencies, and offer well over ask.
My question is - does my down payment actually matter to the seller? Do they have visibility into it? Couldn't I just say my offer was 20 percent down but then work 10-15 with the lender as long as I know that I'll be approved for that.
If I'm the seller wouldn't I really only care about proof of funds?
My wife and I have a combined income of 325k and credit scores over 775 fwiw.
Any advise or guidance appreciated.
Sincerely,
-Guy who's wife won't leave HCOL area :(
Submitted May 06, 2021 at 10:11PM by TappyJohnson https://ift.tt/3eol0Os
