This may sound like I am blowing my own horn, when in actuality I'm giving props to everyone involved in one of my last transactions. First of all, we got a condo financed and to the closing table in thirty days.
And you know what made that happen besides the borrower's credit score? Every single person that touched that transaction...
As crazy as it can be these days to keep up with industry changes, adjustments to regulations, and extensions of incentives, you'd think that everyone involved in a deal would do everything possible to help keep it together. I can give you a big nooooooooooo on that count. Some professionals are prima donnas, some don't know what they're doing, some borrowers think they know more than everyone; I could go on and on.
But on this file, everyone just did what they were supposed to:
- The Realtors stayed involved
- The borrowers provided everything they were asked to provide in a timely and understandable fashion
- The condo questionnaire was returned in plenty of time
- Etc., etc.
All the moving parts kept moving. People did things like answer their phones and say "I'll get that right over to you." It was an industrious stretch of time at Santa's workshop, every elf stayed ahead of the production curve and every reindeer straightened up and flew right.
Again, you'd think this should be the norm; but when I see these low percentages of condos that are getting closed, it's not always the reluctant lenders that are causing problems in this market, a lot of times it's the slackers. Hate to say it, but it's true.
At the end of the day, when you do your job, you don't get stranded on the Island of Misfit Toys.
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