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Proof of Funds - Tell Me You Have them for my Home Sellers?!
Proof of Funds - Tell Me You Have them for my Home Sellers?!  There is a lot of irony in life but when you as a home buyer are pre-qualified for a mortgage that is not one of them.  It is a straight analysis by the mortgage broker of your credit, financial stability and assets in hand to purchase a home.  When a buyers agent does not do their due diligence and has a hands off attitude...well I get upset!
Time is of the essence in many Rhode Island real estate transactions and I want, as the listing agent, for everything to fall into place well for my sellers.  Being methodical and organized, I have my push dates to the buyers agent when paperwork does not come in as planned...say Proof of Funds for instance.
A closing recently had a 'step in' real estate agent that was a relative of a buyer so although the buyers had dealt with me at the last minute they handed their transaction to their cousin.  WHY?  She is new in the business, I was told, and we promised her we would give her the buying side (not selling side of their current home) on a ... more

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