OK - this is a funny way to begin a blog - but I'm exhausted! Just plain out and out drained. Normally this state of tiredness would have me beating a path to a doctor. But I don't need a doctor, I just need a lender who can close a loan in a timely manner. You see, in addition to everything else that I do to complete transactions, I am being confronted with host of escrow issues that I've never seen before. I find myself on the phone constantly trying to prod the banks to close loans that I've had commitments and appraisals on since the beginning of the last century. And if this is stressing me out - some of my clients must be ready to jump off the Tappan Zee Bridge.
The problems with lenders has been fodder for several recent blogs. Although I have a host of war stories that would be funny if they weren't such a threat to each transaction, I won't bore the public with the gruesome details - YET. But what truly amazes me is the arrogance of the banks. After one disastrous situation where a closing was postponed FIVE TIMES and over one month, I ended up speaking with some of the powers that be at our friendly neighborhood national bank. (Yes, I know that is an oxymoron and the sarcasm is deliberate!) Their attitude was atrocious. I was informed that "this is the new normal. You now need to count on 90-120 day escrows. If buyers and sellers are prepared for it -it shouldn't be a problem." Right - not a problem. Sure! Tell that to families that have their furniture in storage, their pets in kennels and themselves bottled up in hotels for two to three weeks. Tell that to the person who must lease a temporary rental for a couple of months to bridge the gap. Tell that to the seller who is dumping their savings into the mortgage and maintenance on an empty home. I won't even go into the convenience issues and the fact that lives are on "hold" for what seems like an eternity. What about the expense? In a time where credit is almost non-existant and most people have no money to spare, this is a BIG problem. The expense is not "going away" just because we are told to expect it. While I am at it - I should mention that prolonged delays have the potential cost buyers their deposit. When all parties are acting in good faith - this is a non-issue - but one can not count on that type of good will in each and every case.
What the larger banks are really saying is "You don't have a choice - just deal with it." Perhaps they don't care because they don't think they have to. If I hear one more major player in these banks tell me about how "well capitalized" they are - I think I'll throw up.
Hey banks! I don't CARE how well capitalized you are. I really don't. If transactions are falling apart or are delayed endlessly it has a snowball effect - and that giant snowball could smother me and my clients. Your capitalization means nothing if you aren't LENDING in a reasonable and timely way. From a purely selfish standpoint - if I don't get closings, I don't get commissions. No commissions, no money, no money, no money, no food on the table and no mortgage payment. For my clients the scenario is similar. Seller's who have moved on are paying for two residences. The deal gets delayed - that's bad enough. The deal falls apart, they are back on the market with months of payments and another looooooong escrow period looming. How long can they float on their savings before they too start to default on payments?
The large banks had better start caring. They may think they are "too big to accountable" but there are consequences. There is one large bank with which I have four escrows all of which have had serious closing issues. At this point - I will no longer accept a pre-approval letter from this bank. If a buyer comes to one of my listings with a pre-approval from said bank - they will be required to find another lender. By doing this I am fulfilling my fiduciary obligation to the seller - protecting the against an endless and dicey escrow. This bank is 100% off my list for buyers. If a buyer wants to use a loan officer from this bank - they MUST get a back-up pre-approval or I'm referring them to a more masochistic colleague.
Now - what good is that going to do? If you think that any large bank is afraid of little me - you are smoking something you shouldn't. However, more and more agents in my brokerage are doing the same thing - shunning the large and stodgy and embracing the small and nimble. The latter is more motivated to get the job done and customer service is not an afterthought with them. Our agents are sharing information about loan officers and mortgage brokers that we have used with success. You know, the "small fry" the big banks thought they were going to squash with their pinky finger. Ironically these were the banks that were NOT too big to fail and took no TARP money.
Instead of cleaning up - the large banks may find themselves being cleared out. Agents and brokers are slowly building relationships that navigate around these large cumbersome Goliath's of banking.
I am a Buyer Representative. My goal is to find the right house for my clients and in the process hopefully find a buyer who will want to buy the house you are selling. I know that it is frustrating when I call for an appointment and you get all ready to show your home then I call and say that I need to cancel. I am deeply aware of how exhausting it is for you. Please understand that it is equally frustrating and disappointing to me to work hard preparing to show your home only to have my buyer client call to cancel or to tell me at the last minute that they no longer need to see the house that they put on their list because they have decided sight unseen that it will not do for them.
I also know that it is frustrating to you when I call through your agent to tell you that we are running late. I can not help it if the tour I arraigned with experience to include some leeway time gets blown by a late arrival of the buyers or the one house that they want to linger in longer than anticipated. I try to move things along but they are truly in charge and to frustrate them with tight scheduling will not encourage them to buy any house let alone yours. The last thing you want is a rushed and harried buyer breezing through your house with a cursory look.
Things happen; people become ill; car's break down; the weather may be horrible; people change their minds: etc. etc. As a guide I can not control many of the outside forces that determine whether or not I can get those buyers to your door on time or at all. I promise you that I make every effort to get them there because I want to sell your house. I make my living by selling people houses. I really have no other intention. I do not "derail the train" on purpose and I am truly sorry that you are disappointed by a no show or a late arrival.
My promise to you is that I will do my best minimize the number of no shows by assisting my clients in narrowing choices to the most likely. I will make every effort to keep to the schedule once it is established. I will call as soon as I can if we are going to be late. I will not ever purposely create work for you that results in a no show but please note that I can not control every aspect of this. The buyers are in charge and I am just there to help them. Hopefully I will help them find their way to your door and they will fall in love with your house.
I wish you the best with your efforts to sell your house. I hope it sells quickly and you are soon moving on to your new place.
I'm Paddy Pizappi - Work with Me and You'll be Happy!
Paddy Pizappi, Associate Broker for Buyer Representation RJ Smith Realty - A Real Estate Solutions Company Serving the Greater Hudson Valley of New York from Pine Bush, NY at the corner of Orange, Ulster, and Sullivan Counties For Buyer Tips and Local Information visit www.hudsonvalleyhappeningwithpaddypizappi.com Call or text to 845-800-7086 or email paddypizappi@realesolutions.com
Real estate is local when it comes to market conditions and market trends. Real estate differs from region to region in styles, architecture and amenities generally speaking. For instance; in Florida fireplaces are not the norm whereas in cold winter areas such as Colorado, fireplaces are a standard addition to a home. In some areas of our country people have wood burning stoves and others have coal burning furnaces. There are areas of our country such as here in Florida where you would not dare live without Air Conditioning but in many homes in Washington for instance, air conditioning is more of a luxury than a necessity.
So when we are discussing the effects of cap and trade in your real estate business you will need to take into account the region in which you live as some areas will be more effected than others.
You can move your mouse over the map and see who voted, what party they belong to and their district. You will be able to see that no matter whether they were democrats or republicans if they are in the farm country of America, high manufacturing areas of America, low energy bills of America and the heartland of America- they voted NO on this bill and for very good reasons.
"For a household of four, energy costs go up $436 that year, and they eventually reach $1,241 in 2035 and average $829 annually over that span. Electricity costs go up 90 percent by 2035, gasoline by 58 percent, and natural gas by 55 percent by 2035. The cumulative higher energy costs for a family of four by then will be nearly $20,000.
But direct energy costs are only part of the consumer impact. Nearly everything goes up, since higher energy costs raise production costs. If you look at the total cost of Waxman-Markey, it works out to an average of $2,979 annually from 2012-2035 for a household of four. By 2035 alone, the total cost is over $4,600." Heritage Foundation.
You will notice that the states where the votes were yes are also the states that already have the highest energy bills. The states that voted no are mostly states with presently low energy bills.
Instead of calling this to Cap and Trade- We can really call it the Tax On Electricity Bill.
How does this information pertain to real estate agents? If you live in the lower energy pricing states you are going to be seeing huge increases in household energy bills. If you live in states that are coal powered or oil powered you will see the largest increases ever in your energy bills because those energy sources are going to be punished with taxation.
How is that going to effect home prices?
How is that going to effect movement in and out of your state?
How is that going to effect your real estate office utility bills and who is going to pay for this?
The House is at it again. This was a 1,300 page bill and again as with so many large bills was not read by most of those that voted yes or no. What is it that they don't get? The American people expect our leaders to read what they vote on.
So what else is tucked away neatly into this bill that perhaps no one knows the full implications of yet?
How about the Federal imposition and takeover of building codes? Your local planning and building offices will not be qualified for any Federal funding of any kind unless they adopt what the FEDS say is the new energy efficient building standards. This will create higher prices in building new homes which is then passed on the homebuyers and then you as a real estate agent are also effected because less buyers will be able to afford to buy a new home built . Not to mention having to wait for the Feds to come and inspect the builders and the homes.
How about the new Federal EnergyNazis Inspectors who will come and rate your home before you can sell your home. So before you can list a home for sale, the seller will have to wait for the Federal inspectors to come out. DMV lines anyone? Once that inspector comes out, he or she will give the home an energy rating. If the home does not meet the guidelines the seller will be required to do the work necessary to bring the home up to energy standards before they can sell the home! Can we say money? Does that mean that there will be homeowners who will become prisoners in their homes because they can not afford to make the energy repairs that the feds require? Is that an invasion of your privacy as well as an attack on your property rights?
Hmmm, how is that going to effect short sales where the seller has no money to make the repairs and adjustments?
How is that going to effect your ability to get listings in a timely manner?
How is that going to effect your seller who is about to lose their home in a foreclosure?
How is that going to effect the seller who has to relocate for their job?
How is that going to effect the estates with heirs having to do these repairs and such when there won't be any money until the estate is sold?
I wonder if our House of Representatives and our Congress men and women EVER thought to actually ask us in the field working this business day in and day out how these bills will effect the housing market?
Of course, the US will be living Cap and Tax while the real perpetrators of dirty air like China and India get off scott free. There will be an unfair advantage in pricing products and manufacturing to the point that if a US company even stands a chance of staying in the manufacturing business will have no choice but to move their company oversees which in turn will cause a massive layoff of people increasing the already high unemployment problem we are facing in our country.
How will the unemployment effect your real estate business?
How will the unemployment effect the REOs and massive foreclosures in your community?
How will the unemployment effect home values as you get more and more vacant properties in your area?
If you are an agent in America's farmland you will begin to see farms no longer being able to produce a profit. Farms use a lot of energy. Energy use will be punished. This is why nearly every politician from a farm land state no matter what party they are affiliated with voted no to this bill. Their districts will suffer terribly. As this happens we will be buying more and more produce from other countries with far less health standards than our own. I don't trust foods, especially produce from China or other countries except Europe. But we don't import our veggies from Europe!
How is this going to effect your real esate business if you live and work in a farm land state?
When it comes down to the nitty and the gritty about this bill you must remember that GE is the biggest supporter of this bill. They stand to make billions of dollars from the passage of this bill. The politicians voting yes on this bill, many of them are getting paid to vote yes. And Al Gore will become the very first GREEN billionaire. It is just too bad that he is not a real capitalist. He could not become a billionaire playing fair and square. Instead, he has an unfair advantage, legislation to make him filthy rich. Not exactly the free market way. It is all about the money.
Contact your Senators now to vote NO now. Click on this link to find your Senators and contact them by email, phone and fax today. Let them know how this is going to effect your business and your community homeowners and buyers. Pass this on...
Starting Wednesday, July 1st the state of Tennessee has a new state law that prohibits the using text messaging while driving. This includes texting while at a stop light or traffic light. People found guilty of texting while driving will be subject to a $50 fine and it will be considered a non-moving traffic violation and point will not be added to violator license.
While texting while driving is banned- driver will still be allowed to use cell phones while driving.
Other new laws in the state of TN starting on July 1, 2009 include the following:
- Colored advertisements are now allowed on buses
- Tennesseans can now have wine shipped to their homes.
- Gun dealers no longer have to take thumbprints when selling guns.
- It is now illegal to wear official military apparel
Instantly search for more homes for sale in the Knoxville TN and surrounding areas now! www.HomesForSaleKnoxville.com
In the Gospel according to Luke, we find the following saying:
"Do to others as you would have them do to you." Luke 6:31
This verse provides the basis for what many refer to as 'The Golden Rule' or the Ethic of Reciprocity, which states one has a right or expectation to receive fair and just treatment, and a responsibility to offer similar fair and just treatment towards others.
Just recently, I had the pleasure of representing a 1st Time Home Buyer in the purchase of a property in West Bremerton WA. Overall, it was a fairly smooth transaction. I had the good fortune of working with the Listing Agent previously and knew her to be a very competent professional, as well as a strong advocate for her clients.
We navigated through the inspection process, where the Sellers kindly accepted to remedy all of the items the Buyers had requested. The required work was performed promptly and copies of relevant receipts were provided.
The weekend before closing, I performed a final walk-through with my Buyer to visually verify that all work had been performed. The Sellers were busily packing the last few loads of household effects, so we could meet our Monday closing deadline.
On the day of closing, after receiving notification from escrow that the contract had funded and recorded, I turned the keys over to my joyful and excited Buyer, who immediately began the process of moving into her first home!
Imagine her disappointment at finding the home in less than 'move-in' condition. It was clear that the Sellers had made very little, if any, efforts at cleaning the home after removing their belongings. Even the most basic tasks of vacuuming and sweeping had been neglected. After several days delay and several hundred dollars paid-out for cleaning expenses, my Buyer was finally able to move in.
Let's face it, the relocation process can be a very hectic and stressful time for both Buyers and Sellers. There can be instances where time or travel constraints can prohibit us from ensuring that the home is left in reasonable move-in condition. In such situations, Sellers should be advised to budget for professional cleaning services paid out of escrow, or to provide the Buyers with a credit at closing to cover such expenses.
Both Buyers and Sellers (and their Agents) need to remember and apply the Golden Rule:
"Do to others as you would have them do to you." Luke 6:31
First time home buyers: Are you still at the computer, doing endless "research" on how to snag the $8000 TAX CREDIT for buying a house this year?
Does the November 30th deadline seem like a million years away as you think about fireworks (not turkey leftovers)?
First time home buyers: Get your butts in gear. NOW.
This is the wrong time to claim you only get motivated when a deadline looms.
This is the wrong time to tell everyone you are a "last minute kinda person" who pulls an all nighter when you have a term paper, and shops for Christmas presents on December 24th.
Here's why: Buying a house takes longer than you think. There are 8000 reasons you DO NOT want to miss this deadline.
Let's back things up. Do you think OTHER first time home buyers might wait until the last minute? Lenders could very likely experience an overwhelming amount of applications this fall.
With applications already taking 45 days, it could easily take 60 days to close your loan. Or more. Lenders are already ridicuously understaffed.
This means you will need to be in contract no later than the end of September.
If you have not already done so, you will need to accomplish this during the months of July, August and September:
Find a Mortgage person
Find a Real Estate Agent
Find a House
Make an Offer, negotiate terms. Find another house if first offer is rejected. Get new offer accepted.
Get financing completed and loan closed.
Some likely time lines and what to expect:
1. Apply for a mortgage. Provide the required documents and ask for a pre-approval. This will uncover any glitches standing in the way of your approval. This will make certain you have the right amount of funds in your account, or lined up as a gift. This will let you know your price range before you begin shopping for a house. This will let the Realtor know you have done your homework and are serious. ESTIMATED TIME REQUIRED: 1-2 weeks
2. Figure out where you want to live and find a Realtor. Look for a Realtor that knows the neighborhood where you would like to buy. Communicate openly and be on the same page if you are buying with another person. ESTIMATED TIME REQUIRED: 2-3 weeks 3. Shop for a house with your Realtor. ESTIMATED TIME LINE: 3-4 weeks.
4. Make an offer, negotiate terms, get in contract. Ask your Realtor about timing before making an offer on a short sale or a lender owned property. ESTIMATED TIME LINE: 1-2 weeks or more...depending on how many offers it will take to get a house. Market could become highly competitive as the deadline looms.
5. Secure financing with lender, and close the loan. Inspections and appraisal will occur during the time as well. ESTIMATED TIME LINE: 6 weeks to 8 weeks
Worst case estimated time line: 19 weeks.
Weeks until November 30th? 22 weeks, beginning next week.
Can you do this in less time? Yes you can.
Just like when you gave your Mom that lame ceramic unicorn for Christmas (purchased in a panic on Christmas Eve, thrown in an obviously used gift bag, then sneakily placed under the Christmas tree minutes before gift opening).
Written by Janet Guilbault, Mortgage Banker/Broker Based Out of the San Francisco Bay Area
Choosing your team is crucial to the process. The right mortgage company, loan officer, appraiser, title company, etc. A mixture of different backgrounds, personalities, and skills coming together to reach a common objective......getting the property SOLD.
A real estate transaction is a complex process, involving many pieces of a puzzle that must fit together in order to be complete. Multiple parties must work together, at some level at least, in order to put that puzzle together.
Some pieces do not fit the puzzle which can prevent it from reaching closure. Some pieces are missing and must be found, if the puzzle is to be finished. Not all puzzles can be fixed, however. And the analogy sometimes does not work, for while the goal is to complete the puzzle, the way in which it is accomplished and the pieces necessary to do so are not always what one expects.
The buyer, and seller, are at the heart of the matter, and it really is all about them. One party wants to sell, the other to buy, and both wish to reach the closing table (however that is done locally) so a title transfer can occur along with the exchange of funds. Of course this is notwithstanding all the personal agendas, roadblocks, and emotions along the way. But the desired end result is really pretty simple, isn't it? At least in theory.
While the focus, naturally, IS the buyer or seller, depending on which side of the fence you are on, a real estate transaction really is about WE, not ME. A team effort is essential, striving toward the common goal of closing, with each person filling in the appropriate pieces. A buyer or seller must cooperate with the members of the team, and at times must rally them to keep the process moving. Similarly, those supporting the effort - escrow, title, agents, attorneys, lenders - must somehow work together to reach the goal while at the same time ensuring individual objectives are met, clients' interests are protected, and required paperwork is completed.
Sometimes agents and other real estate professionals seem to be centered more on their own agendas (Could it be the commission? Or controlling what happens and when? Or something more insidious, like fraud?), failing to keep in mind what, and who, this is all about. At least it can appear that way. Being that we are human, it is sometimes difficult to not let individual emotions and personal desires interfere, even more so when things are not proceeding in the way in which you want them to. Some folks simply don't, or can't let it go. Those who like to be in control may have a particularly tough time.
In some transactions, one or more ME's make it impossible to reach the closing able, buyers and sellers included. Certain deals are doomed to fail, for financial or other reasons, legitimate or otherwise. However the right attitude, of working together, can sometimes go a long way toward overcoming some obstacles so the common goal may be reached.
So how to keep WE from becoming ME?
Set expectations
Keep lines of communication open, regular, clear, timely and unemotional
Focus on tasks and information, not people
Keep focused on the objective, but don't forget about the intermediate goals that must be met
Put your personal agenda away
Maintain a spirit of cooperation and being helpful, not antagonism and "we versus them" - this should not be a win/lose proposition
If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
Breaking News: Congress and the President kick tobacco's butts
I'm writing with momentous news! Next week, President Obama will sign the Family Smoking Prevention and Tobacco Control Act into law. Thanks to your support, this law will help save countless lives.
This is a huge victory for the health of all Americans - and a major step forward in our fight against cancer. Just take a look at what the new law does:
Tobacco companies must reveal all product ingredients to the U.S. Food and Drug Administration (FDA) and seek FDA approval for any new products.
Our nation's children - potential first-time smokers - will no longer be seduced by flavored tobacco products, including candy- and fruit-flavored cigarettes, which will be banned.
Consumers won't be misled by cigarettes labeled "light," "mild," or "low-tar" as healthier choices. These terms have also been banned.
Warning labels will be clearly visible, taking up at least half of the front and back of cigarette packages.
No more public cigarette vending machines in places where IDs haven't been checked.
Children will be further protected from tobacco advertisements and sponsorships, which will be banned near schools and playgrounds and at sports or entertainment events. The law also restricts colorful store displays.
It's not easy to stand up to an enemy like Big Tobacco, but that's what Congress did and what President Obama will do next week. That's because there's nothing more powerful than the voices of real people, all across the country, fighting for change that will save lives.
For decades, the American Cancer Society has led the fight against tobacco, and along with the American Cancer Society Cancer Action Network (ACS CAN), has long fought for bipartisan legislation to prevent children and teens from smoking.
However, the true leaders in this fight have been people just like you who through your financial support and volunteer efforts helped pass this critical legislation. In just the past few weeks, volunteers have held dozens of meetings, made more than 5,000 phone calls and sent 18,500 emails to our nation's lawmakers.
The Congressional Budget Office estimates this law could reduce youth smoking by 11 percent and adult smoking by 2 percent during the next decade. That means there will be far fewer lives lost to cancer caused by tobacco.
On behalf of the American Cancer Society and ACS CAN - and the many people whose lives this legislation will help save - thank you so much for your continued support to help people get well and stay well, to find cures, and to fight back against cancer.
This one piece of historic legislation will help us create a future with many more birthdays. That's truly something to celebrate.
With thanks,
John R. Seffrin, PhD Chief Executive Officer American Cancer Society American Cancer Society Cancer Action Network
PS: Have your friends and loved ones heard about this big victory? Forward them this email to let them know the good news.
My husband and I had to go shopping for a new television last weekend. The old one was about to die - its channel guide was getting fuzzy and my eyesight is already "bat-like". We researched our options online, found one we wanted, then set out for a reconnaissance mission to Sears, Best Buy and yes, Sam's, at my Hubby's insistence.
Right away, at our first store, Sear's, there was our new flatscreen- and it was a lot less expensive than the internet price! I got really excited. The on-duty salesman, Lee, came over and quietly introduced himself to ask if we needed any help. My husband asked if it the t.v. had built-in speakers, and Lee said "Yes". Hubby didn't give signals to talk further (being an engineer), so Lee said to call him if we needed more help.
My husband and I walked up and down the aisles but I already KNEW it was the t.v. we wanted (OK-- " I" wanted). Hubby and I whispered ...."I really want it, let's get it now!" I said. My husband agreed.
I called Lee over and we said "We'll take it". He said he would have to check their inventory (sigh). Sadly, there were none in stock, but if we ordered it then, we could have it in three days.Hubby and I looked at each other. I said "Let's order it", but my husband wanted to finish our mission and go to the other stores.
Before we left, I asked the salesman, Lee, "Are you commission sales?"
"Yes", he responded.
"Then I want you to get credit for the sale if we call or come back to order the t.v. I am a salesperson, too, so I respect that."
Lee then filled out a customer-finder form so we could let any of the other Sears salespeople know we were "his" customers.
Hubby and I completed our research at the other stores. Sears was the best price by far. I sent Hubby to get the t.v. the next day. "Make sure you give the on-duty salesperson Lee's card so he gets credit!" I instructed.
"Why?" he asked innocently, being an engineer, "He didn't do any work. He answered one question."
"Honey", I said, "If someone called me up because they found a house, then grabbed me to write an offer, would I not deserve a commission? Some deals are easy, some are hard. That's just the way it is. Lee might have killed himself with the previous three customers. They might not have bought, or maybe they did not give his card so he didn't got credit when they did buy. Yes, we were ‘easy', but not all sales have to be ‘difficult' to make the salesman deserving."
Hubby went back to the store, and there was a different salesperson there, not Lee. He did a lot of work to take the order from my husband. I asked Hubby what he said when he gave him Lee's card... He said....
Here's a new wrinkle, at least for me. My most recent buyer customer found a nice piece of land he would like to purchase so he can eventually build a home on it.
His dad owns a restaurant and has turned it over to him, mentoring and advising him as he learns. About 3 months before contacting me, dad took his son "off the books", and now the book-keeper (cousin) would have to create a paper trail that a bank would find acceptable in order to finance a mortgage for him. He has about $25-30K to put down on the property, but no documentation of his income. They have it set up where he gets paid, somehow, but it's "not on the books." ?????? Someone more informed in business models than I will have to make that one make sense to me. And good luck with that! My mind tends to work on logic and common-sense. Somehow I don't think this one qualifies.
After consulting with two separate lenders, each of whom explained in detail the need for his financial information, alternate credit proof, etc., I thought Mr. Customer finally got the message. Boy! Was I ever wrong! He just faded into the woodwork and was upset with the lenders. I proceeded to not think about him much because I did not consider him a serious client, considering his attitude.
One day, the seller's agent, great guy that he is, proved he had really been working with his clients. He called me out of the blue and informed me his sellers would be willing to finance the purchase for the buyer. Wow! That's great! What more could you want, right?
Well, I called Mr. Customer, and he seemed thrilled... told me what he wanted to offer, some information he needed about the property as far as utilities, etc., and I went to work compiling the information he wanted, and informing the seller's agent that we were working on making an offer and accepting their generous offer to finance the purchase for my client. I then received an email from the seller's agent with an attached financial disclosure form, which I forwarded to Mr. Customer with a personal note from me to the effect of "How wonderful of them to offer to do this for you!"
Days passed. No responses to my emails or my phone calls. None.
Finally I got him on the phone at work. He told me in no uncertain terms that he "would not be filling out any financial information for anyone. That's why I got so upset with those 2 lenders. Whatever happened to writing a contract, accepting my down-payment money, and letting me pay the bill every month? My financial information is nobody's business but my own!!! When they are ready to accept my offer and my money without having all my financial information, let me know!" BTW: he had no intention of paying the list price, which was definitely a fair asking price.
Well, I have informed Mr. Customer that I will no longer be representing him. (and yes! I am just as hungry as the rest of you are, but I will not work with this type of person. Who knows what the story really is, or what other problems would be presented going forward?) My integrity is more important than the $1700 paycheck I would have eventually received for the sale.
How would you have handled this?
NOTE TO HOME-BUYERS, whoever you are and wherever you may be:
You can no longer get a mortgage without providing documentation of your financial situation. No-Doc loans have gone the way of the dinosaur! And if you are fortunate enough to find a seller (of anything) who is willing to finance it for you personally, you must understand that they are going to want to see some kind of proof that you can make the monthly payments going forward, just like any lender would. Would you give credit to some unknown stranger without doing the same yourself? I highly doubt it!
When you are buying real estate, your financial information IS somebody else's business besides yours. That is simple common-sense!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
OK - this is a funny way to begin a blog - but I'm exhausted! Just plain out and out drained. Normally this state of tiredness would have me beating a path to a doctor. But I don't need a doctor, I just need a lender who can close a loan in a timely manner. You see, in addition to everything else that I do to complete transactions, I am being confronted with host of escrow issues that I've never seen before. I find myself on the phone constantly trying to prod the banks to close loans that I've had commitments and appraisals on since the beginning of the last century. And if this is stressing me out - some of my clients must be ready to jump off the Tappan Zee Bridge.
number of no shows by assisting my clients in narrowing choices to the most likely. I will make every effort to keep to the schedule once it is established. I will call as soon as I can if we are going to be late. I will not ever purposely create work for you that results in a no show but please note that I can not control every aspect of this. The buyers are in charge and I am just there to help them. Hopefully I will help them find their way to your door and they will fall in love with your house.
The weekend before closing, I performed a final walk-through with my Buyer to visually verify that all work had been performed. The Sellers were busily packing the last few loads of household effects, so we could meet our Monday closing deadline.
doing endless "research" on how to snag the $8000 TAX CREDIT for buying a house this year? 
Some likely time lines and what to expect:
A real estate transaction is a complex process, involving many pieces of a puzzle that must fit together in order to be complete. Multiple parties must work together, at some level at least, in order to put that puzzle together. 
Sometimes agents and other real estate professionals seem to be centered more on their own agendas (Could it be the commission? Or controlling what happens and when? Or something more insidious, like fraud?), failing to keep in mind what, and who, this is all about. At least it can appear that way. Being that we are human, it is sometimes difficult to not let individual emotions and personal desires interfere, even more so when things are not proceeding in the way in which you want them to. Some folks simply don't, or can't let it go. Those who like to be in control may have a particularly tough time. 
My husband and I had to go shopping for a new television last weekend
RE/MAX Unlimited 731-249-5376
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