Ok Everyone... The climate for lenders is changing. Last year we went to close on many properties without issue. They were seamless and "Easy" to be honest.
This year... with the market conditions, lender problems and concerns and changing standards with lenders... the problems have been frequent. This requires much more diligence from the lender and the agent as well. We all have to work together to get the job done. It does not mean that things are impossible, just that their is a greater incidence of conditions and problems that have cropped up and buyer/seller beware. Stay on top of things, follow up and advise your clients to give you ALL of the facts no mater how scarry they may be... it will save you and them time and heartache.
In addition to communication and follow-up....Never stop when there is a door closed. Most of the time there is a lender that is able to overcome the obstacles that others can't. This requires diligence on the part of the agent to find that lender and connect their client. Remember, selling agents if the buyer suddenly has a problem, you owe it to your seller to work as hard as you can with the buyers agent to help them get that loan. Sometimes that requires you to remain in constant contact with the lender and give referrals of lenders who you know will most likely get the job done.
Not all loans are created equal, and not all agents are either. The ones who are the most diligent are the ones that will see these difficult ones to close.
Best of luck to all of us.
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