What a day. The weather is miserable - sleeting most of the day. They are calling for 1/4 to 1/2 inch of ice before it's over. Spring, hurry up and get here, already!
I'm really aggravated with a lender right now. My closing on Ray, scheduled for tomorrow, will probably not happen tomorrow. During the deal, this loan officer always insisted that everything was fine. Now, here it is a day before closing, and I had to call him to find out what was going on.
Apparently, underwriting is slow, bla, bla, bla. It may take a few more days, bla, bla, bla. Excuses. He tells me he has stayed on top of things, but I've had a suspicious feeling throughout most of the deal, that he didn't know what he was doing. He is a friend of the buyer (that is why the buyer went with him), so I did not have the choice of lenders. This loan officer always made it sound like he has done so many of these deals and has so much business going on, but I've heard from others who know him that it's not true. He's a talker...
So, I had to call the listing agent today and tell him we have to postpone closing. Of course, I'm the bad guy. I have an unhappy buyer, who may not get the house he wants (and will lose his earnest money if he doesn't close) because he made a bad choice of loan officers. He has completed all the requirements asked of him by the loan company. The sellers are upset; they have moved out of the house. The listing agent is upset with me...
That's the business, though. Things don't always work out the way I wish them to. And, you're only as good as the people in which you surround yourself. That's why I always try to work with the same lender, title company, home warranty company, inspection company, etc. I know the work they do and, together, we get the deals done. When the buyer chooses them, it can lead to trouble...
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