Dallas Real Estate homes for sale, Dallas Apartment Locator, lynn911.com

Real Estate Agents DON'T need to police other professionals job responsibilities

BACKGROUND:

a)  I am buyer's agent

b)  Pre - approval letter from national bank AND lender

c)  Loan officer does not take calls ... DO WHAT !

d)  Loan processor communicates only... DO WHAT !

e)  I continually kept asking with concerns if buyer was qualified for loan following up on executed sales agreement

I was suspicious of problems based on number of reasons ! Buyer NEVER BEEN QUALIFIED

f)  Loan processor no problem we will meet close date

g)  10/29/2009 ~ I receive a call 4:30 pm stating buyer can't qualify for loan with their bank

h)  CLOSE DATE:  10/30/09 9 am

i)  Loan processor stated to buyer that she would never qualify for a loan ... DO WHAT

j)  Buyer History:  $100K per year, 690 mid score, 3.5% down payment

m) I am a Realtor and loan officer I can't instruct my buyers where "shop for a loan" GUESS WHAT buyer can qualify with my list 75 lenders we close in 10 days.

CLOSING STATEMENT:  All parties listing agent, seller, title company are out raged when they determined we all have been mislead by professionals you don't know OR issued statements qualifications of buyer

In future AND I normally do this 99.99% of time speak with loan officer ... this buyer an associate agreed moved forward

STOP  interview loan officer

determine if they have all required documents not limited to following list of items.

a) Loan application

b) W2

c)  Tax returns

d)  3.5% down payment in bank

e)  Verification of employment

f)  DOES BUYER fit lenders requirements for a loan

NOTE:  Some buyers may have exceptional scores, employment, tax returns HOWEVER based on how they are paid could not work within guidelines of lender

g) Have facts determine can buyer purchase a home render a letter of statement

Buyer is blessed I was able save the deal

without loss of

$2K earnest money, inspection, appraisal, option money spent.

Our buyer due to how they were paid of company car, expenses and etc. DID NOT work within guidelines of this national lender.