All Ready To Close, But... No Loan Docs !!

By
Real Estate Agent with Keller Williams Group One, Inc.

It is so frustrating when you have a listing, work really hard to find a buyer, but then at the very end you hear, "sorry we can't meet the close date". REALLY... You had almost 45 days and just now we find out there is an issue, Come on !! This story is played out across the country with the large national banks. You tell us 30 days is real hard to close a deal in this environment and then we give you 45 and you still can't get it done?? This issue is a very small issue that some underwriter is holding the deal up for, shame on you !! This is why a few months ago we have stopped using the big banks for our buyer loans and have asked our buyers to use a good local lender that can do every loan under 30 days. It's hard enough to put together a deal in 2010, we don't need another issues !

Comments (2)

Vickie Nagy
Coldwell Banker Residential Real Estate - Palm Springs, CA
Vickie Jean the Palm Springs Condo Queen

Mike and Belinda, this is so accurate! The big banks don't meet their loan commitment dates. Many mortgage brokers can close in 14-21 days, banks often can't even do 35.

Jul 19, 2010 11:26 AM
Melissa Anderson
Mortgage of Texas & Financial - San Antonio, TX

The big box banks don't care about you or the client.

A local direct lender is the way to go.

Jul 19, 2010 11:37 AM