Relationships are important.

By
Real Estate Agent with J. Roberts & Company

Knowing all facets of the real estate business is so important. But how much can I actually know? I am a Realtor, not a lending agent. I have been working with some customers who are FHA pre-approved. We have been trying to make an offer on a HUD home. These homes do require some repairs. The repairs can be done several different ways. The easiest way seems to use an escrow hold. The lender keeps telling me that it can't be done. HMMM. Well as a Realtor it is my job to know the basics of these programs so that when I am talking to someone, I know enough that I can talk about it. It can be done.

Making sure the deal gets done is very important. I am learning that using the right people throughout the transaction is very important. When it comes to lenders there are people that know their business. Those are the people that I want to have a relationship with. The people that are going to keep me with a good name. Look for those that are working for the customer not their pocket book.

Build relationships with all the people you will need through a transaction. Title people, lenders, home inspectors and contractors.Use these folks and make yourself available to them. These people can helps us when we need it most.

Comments (2)

Ruth Vogt
Fairway Independent Mortgage, LLS. Equal Housing Opportunity. Regulated by the Division of Real Estate. - Colorado Springs, CO
719-592-0855 www.ReverseLoansInColorado.com

I just mentioned that HUD escrow in a blog last night: FHA Loans. You are right, escrows can be done on HUD homes, but only if authorized by HUD. The listing info will show not only what repairs would need to be escrowed for but how much to escrow. It can then be included in the loan amount (up to $5,000). I wish I lived in Florida... I'd be calling you right now to save that deal!  ***winks***

Nov 12, 2009 05:05 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  We invite you back to ActiveRain in 2017. 

  We would welcome your return!

Sep 19, 2017 08:02 PM