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“I Hate Telling Someone They Can’t Qualify for the Purchase of another Home”

Reblogger Praful Thakkar
Real Estate Agent with LAER Realty Partners

It happens! Not always, but yes, it does!As much as we want to help our clients to go ahead and realize their dream, sometimes it is a 'no go'!And that is in the best interest of the client.Here's a re-blog of Joe Petrowsky 's post.

Original content by Joe Petrowsky NMLS # 6869

“I Hate Telling Someone They Can’t Qualify for the Purchase of another Home”

 

 

“So, I have you to thank for checking on this for us.  If someone would have come up with an offer I would not be the type to 'back out of a deal', so it's totally best that I inform the realtor that I no longer want to sell before someone does come forth with an offer.  The listing actually runs out anyway at the end of this month.”

 

The listing agent had her client call me to get pre-qualified for the purchase of another home. No one wants to hear that they don’t qualify. In this situation the client would have very little money coming from the sale of her current home and there are a number of credit issues.

 

I let her know it would be in her best interest to stay in her current home until the credit issues were resolved. These are never easy conversations to have, but I would rather solve a problem before there is a bigger one.

 

The listing agent followed up with me after speaking to our mutual client and thanked me as well. I let her know once the issues have been resolved, relisting and selling the home for these clients would be the next step.

 

Image courtesy of stuartmiles/freedigitalphotos.net

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

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Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Praful. Thank you for the re-blog, really appreciate it. Not one of our favorite things to do, but it is our responsibility to give good information to all those we come in contact with.

Apr 29, 2015 09:21 PM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

I had someone call me yesterday who wanted to buy a condo in a particular neighborhood. I asked if she was pre-aprroved...She said I don't know what that means, but I don't have any money!

Apr 29, 2015 11:52 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Fortunately it does not happen often, but I ALWAYS talk with potential sellers who are planning to buy again to check into getting preapproved right away. Off to read and comment on Joe's post

Jeff

Apr 30, 2015 08:11 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

A A good reason to make sure everyone is pre-qualified before they get their hearts set on a  place.

Apr 30, 2015 10:17 AM
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

Joe Petrowsky - great post and shows how committed you are. Yes, not one of the favorite things to do for us.

Apr 30, 2015 04:44 PM
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

Thanks all for stopping by - really appreciate it.

Apr 30, 2015 04:44 PM
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

This happens to best of us - we don't know when what went wrong....

Apr 30, 2015 04:44 PM
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

Yes, William Feela - and also important to show our buyers the difference between pre-qual and pre-approval.

Apr 30, 2015 04:45 PM
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

It is important for us also to tell the truth to our clients.

Apr 30, 2015 04:45 PM
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c) - so much so for American Dream! Many of them don't know much about it - and still want to buy a home.

Apr 30, 2015 04:46 PM