Sorta want to vent, and sorta want to get advice.
Quick backstory: we just had a child a month ago, the mother is on maternity leave and I chose to get laid off at the end of my last job (construction,) to be home for the birth of our child/the first couple months. Based on those factors, our approval letter is far below where it would be when we’re both back at work.
We’re first time home buyers and we just had our offer rejected because the lesser offer had a stronger proof of funds (for down payment/closing costs. The night that the agent and owner were making a decision it was indicated to us that they would like to see that we had the cash to make up the difference between our pre approval and our offer amount. With short notice, I sent a screenshot of my bank balance which was 30k less than the 20% down. We found out the next day that the other(lower) offer showed they had the full down payment. Our lender and our agent had talked to the seller and explained the full financial obligation was there (extra money from our parents.) It feels sheisty that we missed out on the house because we weren’t told that proof of funds were going to be the final decision maker; with a days notice we could have showed them the full amount of cash…
Now my wife and I are more pissed off that we know why we lost our “dream home.”