I recently saw a blog about hard to work with clients and responded by telling a couple stories and opinions about that. However, I also began thinking about another referral I received from a Realtor Partner of mine. She had called and gave me the heads up that she had sent over a potential client and could I go through and get them pre-approved because they wanted to go out house shopping that following weekend.
Well the client called and we went through the qualifying questions and everything looked good until we looked at their credit history. Ugg...Mid Score was 573. Ouch!! I sat with this potential client and explained to them that we would be unable to give them a pre-approval letter because of the credit scores. I also informed them that there was several things we could do to help improve their scores. So they took my information and proceeded to begin working on cleaning up their credit.
Flash forward 60 days...this client calls and tells me they have completed everything I had told them to do and could I please check their credit scores now and see if we could provide them with a pre-approval letter. I pulled their report and lo and behold, they had improved their mid score to 647. While still not great, it was enough to give them the letter they needed.
Flash forward another 45 days.... As of yesterday we finally had closed the purchase for this client. $285,000 purchase. The Realtor was very happy because she had originally thought this was never going to happen. The clients were extremely happy to complete the purchase of their new home, and I was happy with the fact that this client, while being tough originally to think about getting a loan done for them, worked out very well for my Realtor Partner, our clients, and for myself as well.
Sometimes there truly are diamonds in the rough.....