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Closing Frusterations

By
Real Estate Agent with Century 21 Nachman

I must let it out.  No matter how well one seems to prepare "Murphy's Law" rears his ugly head several days before closing.  From my personal experience shortly before closing the water starts to get choppy and I find myself pointing fingers. Not literally, but you know what I mean.  I will say that I have a Title company that I use almost exclusively and it is the greatest, in my opinion.  Bayshore Title and Settlement.  It is hard to find an associate that will work and adjust schedules to my needs, but know matter how  hectic it gets prior to closing we as professionals will pull it together. 

Today my frustration is at the Lender level, which I utilize and recommend the same ones to all my clients, but doesn't there always seem to be an issue between the Loan Officer and the underwriter.  It makes me curious   if they are in the same playing field and wait to communicate the day or day before closing.  I know this may rub a certain sector of the Real Estate market the wrong way, but I just have to vent and get it off my chest.  Tomorrow will come and so will the next day along with many more closings, but we do owe it to our clients to close on time and that is where the frustration sets in.  9 times out of 10 Real Estate Agents recommend lenders to our clients and we accept the responsibility that our associate lender will perform as we would expect them to. 

 Enough venting for one day but I am sure many have experienced the same as I will in the future, but I can only continue to strive to generate quality service to my clients. 

Ed Rybczynski
Integrity Real Estate - Havre de Grace, MD
Your Source for Local Real Estate

Todd

Sorry to hear about your frustrations.  I'm glad you gave your title company the credit they deserve.  You should share this post with the staff at Bayshore Title. 

Aug 22, 2007 10:09 AM
Sondra Sheckler Realtor,ABR,SRES,Historic Home Specialst
Coldwell Banker, Award Of Excellence & Million $$ Producer - Knoxville, TN
Todd-- the title company, the mortgage company, the pest company's etc., etc. etc., it takes all of us to carry out our duties to make the deals come together, to be performed as the contract indicates.  However, I have assumed that everyone will do as the contracts indicates and through closings that did not happen on time b/c I made this assumption, I do the babysitting technique and call, call, call until I know they know that i am not going to stop calling until i know their job is done.  It is sad, but I cannot let things fall through the cracks due to neglect and I agree that we should not have to babysit, but "crap happens" and I just want to prevent it as much as possible.
Aug 22, 2007 10:44 AM
Rey Gallegos
Supreme Lending (NMLS ID #2129) - Las Vegas, NV
FHA, VA, Home Loans Las Vegas, NV
Todd,  In the past I would agree with you about being informed more than 2 days prior to closing about a potential loan issue.  However, we are getting updates daily about discontinued programs and guideline changes.  You want to hear a really bad one.  I had Bank FUND, thats right FUND a loan last week and when the wire request got to the Banks Warehouse line to be sent the title company the warehouse line REJECTED it and said they weren't going to honor anymore wire requests on that specific type of loan. 
Aug 22, 2007 11:03 AM
Ray Perry
CENTURY 21 The Neil Company Real Estate - Roseburg, OR
Realtor, CRS, GRI, e-PRO

Todd:

This is what's so fun about this business.  All those little challenges.  It's real rewarding when we can take something that's real shaky and turn it into gold.  Makes you feel all warm and fuzzy inside.

Hang in there.

Aug 23, 2007 12:59 PM