Seller Beware???

Good listing agents have always had the ability and responsibility to look down the road and see the potential oncoming traffic/dangers that might be approaching their clients. The latest hazard appears to come from lenders.

It seems as though there is still some refi-residue out there in the lending world. These are lenders that did great during the refi-boom but are grasping at straws to hang on in the new world of shrinking liquidity. 

These lenders appear in the newspaper, on the Internet and of course in the median, right along side of the “We fix windshield chips” signs. Of course, buyers in search of a deal seem to hunt these lenders down.

These lenders promise the old sub prime buyer a great rate, in spite of all that negative stuff we are hearing on the news (you know how the media is?). These buyers in turn put a listing under contract (a.k.a. take it off the market), while the lender tries to find funding to support what their commitment to the buyer.

At the end of the day, when the lender can’t deliver and the buyer is ready to move on, it seems the only victim is the home seller.

Once again… Good listing agents have always had the ability to look down the road and see the potential oncoming traffic/dangers that might be approaching their clients….The moral of the story, use a good (these days a really good) listing agent.