I have this deal that absolutely has to close by the Xth of this next month. I was chosen as the lender because I offered the most fair deal, and I was also well-acquainted with the Realtor, or so I thought.
Because the client was nickel-and-diming every single cost, I went with the lowest priced wholesale lender, so that I could pass on the lower fees to the client. Of course, this also meant that I went with the slowest lender, because they are overworked with their low rates and fees.
I made this clear to the borrower. There is a lot of give and take in the mortage world.
About a week before the closing, I called the buyer's Realtor and my client. I explained that underwriting was way behind and I was a little nervous.
This thing should close without a hitch. It should, anyway, except for the fact that the house inspection came today. If the buyer's realtor would just let it go, we have a good deal. But for an $80 window, I'm afraid I will have to redo all of the paperwork and adjust the home value by $80.
The seller "has no money" to pay for the window, so they want to lower the price of the home. The buyer's agent is actually doing this.
Can we just act like human beings?
;)
;)
I always tell my clients to ask their lender if they can meet the closing date specified in the contract. If the lender says yes then I would hold them to it also. If the lender says no then we deal with the situation and we avoid problems at closing. We all want the deal to close and as agents we have more than just mortgage issues to contend with. So I have to rely on my broker to give me good info. My suggestion to you, Karen, is to avoid that lender next time.