Feel free to jump in and give me a snappy title for my post. I have been snappy most of the day and not in a good way. (That is a whole another story)
In our part of the lovely state of Missouri, the housing market is starting to see a rise in the number of properties being listed that have been foreclosures. For the purpose of this rant this is IMHO neither good or bad, it just is.
Two years ago when I had a buyer, I would work with the lender of their choice &/or my suggestion, get a pre-approval and make and offer on the home that best meet every-one's needs. Occasionally a property would be on our search list that had been a XxxxxxxXxxx foreclosure. If my buyers were interested a form was usually left on the counter requesting the buyer's info that needed filled out and submitted with an offer. A couple of times I had buyers write, "not interested in seeking other sourse of funding", sign it, and submit their pre-approval with the offer.
This past year the majority of foreclosures that I showed seemed to be XxxxxxxXxxx.
This new year the majority of listings I show are foreclosures with XxxxxxxXxxx. What a big difference a couple of years make!
Three weeks ago, one of my buyers decided to make an offer on a XX property. I asked the listing agent if she had a copy of the loan form they like filled out (it says on the listing sheet that it needs submitted with ALL offers) She didn't have one. She went on to explain that XX wouldn't even consider an offer that had not pre-qualified with them first.----HOLD ON- it is one thing to request that the buyer give you a shot at the new loan, it is another to have their information in one hand while negotiating a contract in the other.
My buyers put in an offer, (without the form) later withdrew it b/c XX was moving so slow (agent claimed backed up) to even consider the offer. Buyers decided to keep looking. Sad thing is that of the 6 places that might meet their needs three are XX foreclosures!!
Today I got to thinking that if so many places are going to be held by the same seller maybe I need a set of FORMS on hand for the next time a client plans to consider writing an offer. (seeing as how the listing agents don't have access to them- sarcasm) Simple enough- wrong!!
I am not going to go into the details. I did get the 'form'. My peeve is that if/when a seller has special requirements to submit an offer, I want to see it in the disclosures up front. I am getting tired of killing a tree and a half to get to the verbal stage just to then re-write everything on their forms.
In my defense, I do whatever it takes to get the buyers what they want. Today I was just a bit annoyed that by trying to predict and get a jump start on the next situation that it took me several hours to get what I wanted.
Tomorrow's clients are looking a three places, only one is XX, if they chose to make an offer on it, we will be ready.
Is it just me? Or are there other agents having trouble ......getting a title for their rants? be good cw
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