loan: "I don't deal with the financing, the lender does"...Really?
- 11/06/14 05:31 AM
In the real estate industry it is necessary for a Realtor to understand financing. While we may not know every guideline that must be met in order for a Buyer to obtain a loan, it is important to have an overall knowledge of the loan your client is trying to obtain. Not knowing can cost your client hundreds of dollars and could cost you future business. I will give two very basic examples demonstrating how a lack of financing knowledge can cost Buyers and Sellers money!
Example #1 - A Buyer's offer was accepted on a rural custom home in Buckeye, … (3 comments)
loan: Short Sale Pricing Confusion
- 12/17/08 09:14 AM
I have notcied some confusion on the part of some buyers and even their Realtors as to how the listed price of a "Short Sale" home comes to fruition. Some believe that the price the home is listed for is the price the Lender agreed to. This could be true, but in most cases it is not. The first Listing Agent to get the listing on a home to be "Short Sold" may very well put an aggressive price on the home without ever having dealt/spoken with the lender up to that point. Some lenders will not give the price they are willing to accept or even approve a … (0 comments)
In the real estate industry it is necessary for a Realtor to understand financing. While we may not know every guideline that must be met in order for a Buyer to obtain a loan, it is important to have an overall knowledge of the loan your client is trying to obtain. Not knowing can cost your client hundreds of dollars and could cost you future business. I will give two very basic examples demonstrating how a lack of financing knowledge can cost Buyers and Sellers money!
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