The buyer has selected the house…and now the fun begins. A successful transaction requires the cooperation of all parties involved, including the buyer, seller, lender, escrow, home inspector, appraiser, co-op agent, on-and-on, and etc… (endless possibilities here).
I know of a buyer who delayed in requesting the 401k funds she was using as her down payment, despite being told specifically that she was endangering her transaction. Her languor did cause a holdup and ended with the transaction closing a few days past the deadline. My astonishment came when I heard that the selling agent was mad at the lender! And stopped taking his calls! And tried to move the loan to another lender! And gave him the stink-eye! (…did I mention this was a result of the BUYER’S delay????)
The result is that the relationship between this lender and this buyer’s agent is harmed.
This is a good lesson for me to remember to keep good communication, give ample respect, and employ golden ruleage (I know that’s not a word), for those who facilitate our business.