loan officers: You have already been pre-qualified, Great! Now call my lender please.
- 09/30/10 04:37 AM
I was recently referred to a client that had terminated their relationship with their initial Realtor. The buyers had been pre-qualified for a purchase by the initial Realtors in-house lender for 225K. I asked them to speak with my primary lender and it turns out, after reviewing the buyer's taxes and actually looking at pay stubs that the buyer's would qualify for 50K less resulting in them not being able to acquire a property they had found. Thankfully, I didn't submit the offer based upon the initial lender letter and tie up the seller's home and cost the buyer's hundreds of dollars … (2 comments)
I was recently referred to a client that had terminated their relationship with their initial Realtor. The buyers had been pre-qualified for a purchase by the initial Realtors in-house lender for 225K. I asked them to speak with my primary lender and it turns out, after reviewing the buyer's taxes and actually looking at pay stubs that the buyer's would qualify for 50K less resulting in them not being able to acquire a property they had found. Thankfully, I didn't submit the offer based upon the initial lender letter and tie up the seller's home and cost the buyer's hundreds of dollars … (2 comments)
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