When's the last time you had a ratified contract fall through because of financing, even though you had a "Pre-Approval" letter from a lender? Just once is one time too many. Often times in the past with my listings, when we offered incentives to the buyer I required that any offers be approved by my designated lender. As long as the rate was competitive, I found little resistence. But as of late, and because I have recently been certified as a Distressed Property Expert, I have started to require that the buyer be pre-approved through my lender, one who I know and trust, and can be assured that when he approves them there will be a 99.9% chance of closing. Short Sales are challenging enough, so having a knowledgeable, trusted lender will take one more obstacle out of the way of a successful closing. I have started to make this a key component to all of my short sale listings. We will see what the success rate is with this tatic as time goes on. In the meantime, I'd welcome any opinions on this matter.

 
Posted by Jim Kelly on 05/05/2009 02:51 PM   Comments (1)   Pre-Approval Letters in the ActiveRain Channel   second opinion on preapprovals  
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Certified Distressed Property Expert
05/05/2009
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FOR RELEASE: IMMEDIATE DATE: April, 27, 2009 For more information, please contact: Jim Kelly, Carolina One Real Estate 843-574-3004 email JKelly@carolinaone. com Jim Kelly EARNS PRESTIGIOUS DESIGNATION TO HELP HOMEOWNERS IN DANGER OF FORECLOSUR.. more
Is That A Month?
11/19/2007
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The robust and growing job market in the Charleston, South Carolina area continues to draw people from across the nation. A "skilled" worker who recently relocated to the area from northern New Hampshire more than doubled his salary along… more
Like Politics, All Real Estate is Local
11/13/2007
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Day after day, night after night, the local papers, local TV news and national news herald the death knell of the real estate market. And unfortunately, most folks believe that real estate has gone to hell in a hand basket. The only good that I see… more
Sequel to The Fallacy of a Signed Lender Verification Form
09/21/2007
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You may have read my previous rant about what Bank of America did to a Buyer Client. Here is an update, which casts more aspersions on BOA. I learned through a colleague who has a solid contact at the Bank of America who advised me that on Friday 9… more
The Fallacy of a Signed Lender Verification Form
09/18/2007
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When is a fully completed and signed lender verification form, stating that a buyers credit, income and employment has been verified and that there are no contingencies other that those addressed in a contract totally worthless? The short answer is… more
 

Jim Kelly

Goose Creek, SC

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Carolina One Real Estate

Address: 567 Crowfield Blvd, Goose Creek, SC, 29445

Office Phone: (843) 574-3004

Cell Phone: (843) 819-9190

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