Safety Net...

Even after a buyer is found and the papers are signed, there's no guarantee that the deal will close!

The risks are with the property or the buyer's credit, loan qualification, income, or down payment.  Even pre-approval is no guarantee this days. Something as small as missing a bill payment shortly before closing can completely put a stop to the loan in a heartbeat!

We should not stop marketing the home just because a purchase contract has been accepted.   What I do is keep records of buyers interested in the property and continue to show the property just as if it was not under contract.  This way I have a safety net in place just incase the ball is dropped. 

Its just a great idea to track your leads in case the buyer's financing crashes and burns:)

FYI!...

Im not sure if you've heard, but there are new Wells Fargo Loan Limits!

The new temporary loan limit has been raised to the same as FHA $531,250.00.  The only area that went to the $729,000.00 is Key West, Florida.

These limits will be in effect until 12-31-2008.

What this means is there will be three loan categories in which our clients can choose from:

(1.) The traditional Conforming loan (up to 417,000)
(2.) The newest Loan Product ($418,000 - $531,250.00)
(3.) Non-Conforming Jumbos ($531,251.00 and up)

Wells fargo will still offer a variety of products (5/1 ARM, 7/1 ARM, 10/1 ARM, 15 yr, 30 yr fixed and Interest only, etc.)

Remember this is a TEMPORY raised Limit and will only be in effect until 12-31-2008.  Let your clients know, we know we have!

The Grant Team of Naples

www.NaplesSunAndSand.com

• Naples • Bonita Beach • Bonita Springs • Estero • Marco Island • Fort Myers •

PRUDENTIAL FLORIDA WCI REALTY  •  4130 TAMIAMI TRAIL N  •  NAPLES, FL 34103

JUST CALL OR SEND US AN EMAIL WITH YOUR INQUIRY

Featured Properties | Property Search | About Us | Contact Us