Real Estate Agents and the Mortgage Process
The mortgage process is based on good communications
Scott Godzyk, Manchester NH real estate professional and ActiveRain blogger shares some thoughts on the mortgage loan process that can kill transactions without much notice.
All of the parties need to communicate and to work as a team to generate the best results. The buyer agent should recommend a lender with a proven track record.
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Happy Valentiine's Day everyone. There is no better day to describe the Love and Hate relationship between Real Estate Agents and the "Loan process" Getting a mortgage is often the worst part of the Real Estate transaction. It does not have to be, but some how gets made worse than needed.
1. PRE-QUALIFICATION vs PRE-APPROVAL: Every Buyer should be pre-quailifed before they look at houses. The problem is often the pre-quailifcation letter is worthless. It has more contingincies than there are stars in the sky. We need loan officers to press buyers to collect bank statements, pay stubs and tax returns to turn them into pre-approved buyers for just a little more time and effort.
2. INTERNET LENDERS: At any cost, Internet lenders should be avoided. It is ever so important to choose a Local and trusted Loan officer. You want someone you can meet with, talk to and be there if you need assistance.
3. LOAN OFFICERS: One of the most important things a Loan Officer can do is to update the buyer and their agent throughout the mortgage proces. Too many LO's take the loan application, send it off and then you do not hear from again. A good loan officer will send updates even if it is stiill in underwriting, that is at least some news that can calm the buyer and the agents. No news is the worst type of news, telling me there is no news is at least news.
4. THE MORTGAGE PROCESS: Too many processers and underwriters look at the mortgage process as a war between them and everyone else. They need to accept the fact that they are part of the home buying process and realize there are real people, with real feelings and real life affects from their decisions and actions. Being polite and helpful goes a long way in getting repeat business.
IN CONCLUSION: Buying a home is supposed to be one of the happiest times in one's life. As a Real Estate Agent and whether a Listing Agent or Buyer Agent i treat everyone with respect. I treat them with kindness, helpfullness and respect the deserve. By working together, all parties involved in a Real Estate transaction can improve communication and therefore make it a better experience for all.
It does not take magic to turn your "For Sale" sign into a "Sold" sign. it takes a full time Local Agent who specializes in Listing homes like yours.
If you need to sell your home and you owe more than your house is worth, i may be able to help. I specialize in working with home owners to get your home sold. There are many options such as a short sale whcih may be able to help you.
Please try and avoid out of state or out of town agents and companies that make "out of this world promises". We are local agents with experience who never charge any up front fees. WE GET RESULTS!!!
If you need to sell a home in New Hampshire I can be that agent for you. I strive to provide the best personal and professional service through each step of the selling process.We stand by you through every step in selling your home.
If you are Looking for a Real Estate Agent you have come to the right place. Scott Godzyk is a Full Time and Local agent ready to serve all of your Real Estate needs through each step of the buying or selling process. We are proud to be locally owned and operated.
If you owe more than your house is worth, If you are behind in your payments, I may be able to help. Call me to find out how you may be able to sell your home at no additional cost to you.
Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Ssles, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.
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