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Don't Ask Me To Do That

By
Mortgage and Lending with Equity Resources NMLS 67179 Licensed in NC

That Dawg Don't Hunt!We had some clients over the weekend call and tell us that even though they are under contract to purchase a home... they found a different home they want to now purchase!

"We talked to our agent... "Can't You Just Turn Me Down?"  Ugh, No.  Positively no.  Will not issue a turndown letter when I don't have ANY basis for denying your loan.

WHY?  Well, because I was involved in a LAW SUIT when one of our loan officers did this!  The loan officer didn't have DOCUMENTED evidence that a plant was scheduled to close.  She talked to the Human Resource Department, and she knew they had been told... but it had not happened yet.

This is a completely different scenario.  The folks just decided they like a different house and want their Earnest Money back. The agent told them we could deny the loan.

Well, I can't.  I'd love to help, I want to be the loan officer you use... but I can't take that liability.

If you are looking for an ethical loan officer in NC - please call Steve and Eleanor Thorne, 919-649-5058.

Stanton Homes
Stanton Homes - New Home Builder - Raleigh, NC
Design/Build Custom Home Builder in North Carolina

Congrats on the post.  Thanks for staying honest, even if it costs you a deal - there's too much scum out there, and I need some good loan officers to work with!

Jul 13, 2010 02:48 AM
Mark Smith
Cherry Creek Properties, LLC - Erie, CO

I have had people ask me the same thing. People just want what works for them. I bet if they were the seller- they would think differently. The agent should be looking for a way out on their existing contract- if they really are that serious.

Jul 13, 2010 02:58 AM
Jose L. Torres
RE/MAX Legend - Wayne, NJ

Eleanor, Good for you!  We need more people like you in this industry!!

Jul 13, 2010 03:14 AM
Ann Allen Hoover
RE/MAX Advantage South - Hoover, AL
CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL

I've seen a lot of crazy things but haven't had this one come up yet!  Hope your week is getting off to a good start. :o)

Jul 13, 2010 03:16 AM
John McGuire
Mortgage Banking Consultant and Investor - Overland Park, KS

Glad you made the right choice.  You can't turn someone down for no reason just like you can't approve them without a reason...at least not now!

Jul 13, 2010 03:19 AM
Graziella Bruner
NCS Premier Real Estate - Detroit, MI
Associate Broker - Serving Wayne & Oakland County

Great post, it's always good to do the right thing no matter what the consequences.  You stood your ground and did what was right, just think how much better the real estate and mortgage industry would be if more people were like that!  :)

Jul 13, 2010 03:20 AM
Lori Cain
Own Tulsa - Tulsa, OK
Midtown Tulsa Real Estate Top Producer

Eleanor - you answered this much more calmly than I would have! Jeezz, what were they thinking?!

Jul 13, 2010 03:21 AM
Geri Sonkin
Douglas Elliman Real Estate 516-457-7103 - Merrick, NY
Long Island Real Estate & Staging Expert

I'm always amazed when people do this and think nothing of it.  Personally, I can't deal with people who have a sliding scale of ethics.  I remember when my son was getting his first car.  I warned him that he was making a really bad choice, paying way too much for his choice.  Once he signed on the dotted line, he tried to get out of it.  I refused to back him up.  When buyers have second thoughts or find that new shiny penny, I'm amazed at the so called professionals so ready and willing to help them do the wrong thing.

Jul 13, 2010 03:21 AM
Joni Bailey
101 Main St. Realty - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®

I always answer back with, I won't ask you to do anything that would jeopardize your family, please don't ask ME to. This job is how I support my family. 

Jul 13, 2010 03:36 AM
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

It's so sad people even ASK - or worse, assume you will comply - someone to do such a thing.  No wonder we are in the mess we are in!  Kudos to you for doing the right thing.

Jul 13, 2010 03:44 AM
Sharon Paxson
Sharon Paxson, Realtor® EQTY Forbes Global Properties - Newport Beach, CA
Newport Beach Real Estate

Hi Eleanor - that is amazing that they asked you to do something unethical. Good for you for explaining to them that you could not accomodate their request.

Jul 13, 2010 03:49 AM
Michelle Fradella-Barfuss
Broker, Marketing Coach, Trainer - Red Rock Real Estate - Salt Lake City, UT
Author of "Top 10 Mistakes Agents Make When Market

Good for you!  If only more people would stand on their laurels and do what's right, no matter how it effects their pocketbook!

Jul 13, 2010 04:00 AM
Richard Strahm
American Foursquare Realty - Lansdale, PA
Lansdale and North Penn Real Estate

Do you like the other house enough to forfeit your earnst money?  The answer is usually "no."

Jul 13, 2010 04:11 AM
Bob & Carolin Benjamin
Benjamin Realty LLC - Gold Canyon, AZ
East Phoenix Arizona Homes

Good job -- there are always people who want unethical things -- and we all have to say no.

Jul 13, 2010 05:42 AM
Mike Woods
M.S.WOODS REAL ESTATE, LLC - Indianapolis, IN

Why buyers keep looking at homes once they have an accepted offer is beyond me.

Jul 13, 2010 07:29 AM
Bryan Robertson
Los Altos, CA

Buyers and sellers often ask agents to do things that are either unethical or illegal, either out of ignorance or malice.  Either way, I always say no.  What I will do, is find appropriate ways to ensure they achieve their goals.

Jul 13, 2010 11:19 AM
Eric Michael
Remerica Integrity, Realtors®, Northville, MI - Livonia, MI
Metro Detroit Real Estate Professional 734.564.1519

Doing the right things. We all can learn from this. Great post.

Jul 13, 2010 02:11 PM
Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa

The scary part is that you said that they did not think of this on their own.  It was suggested by their AGENT?  Yikes!!!!!!

Jul 13, 2010 03:45 PM
Dennis Duvernay Broker/Owner
Hillview Realty - Northbridge, MA

The fact that they were still trying to look at homes after having one under contract would scare me....were they not happy when they signed on the dotted line to begin with?

Jul 16, 2010 01:26 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Good for YOU!  Many others would have said "no big deal, here you go!"  You took the high road.

Jul 16, 2010 02:58 AM