We have learned through our own experience and from others in our industry...that the choice of a lender...and going one step further...a loan officer within a lending institution is a HUGE part of the puzzle piece that puts a transaction together.
If both listing and selling agents are not paying close attention to this important part of the process...we believe you are doing everyone involved a huge disservice.
Agents know that all agents are not created equally....and that applies to lenders. Because a buyer has a piece of paper, because a lender or friend may have referrred an agent to a buyer does not necessarily mean the Buyer is qualified...or that the Lender can close the sale. Here are some recent scenarios that would have killed the deal had we not taken what we have come to call "lender caution."
- Self employed Buyer had been employed less than the minimum of 2 years and did not qualify for a mortgage BUT was given a pre approval
- Income of couple did not qualify unless another person
with sufficient assets was added to the loan
- Divorced spouse was still on a previous mortgage swaying the debt to income ratio
- Insufficient time had passed from a bankruptcy to qualify
for mortgage application
And the list continues....and while there may be agents, Sellers and Buyers that see our thorough examination of the lending process to be "unnecessary"....we know better and want everyone to have a successful real estate experience.
If you thought those days were over since the fall of the market and emergence of the return...think again.
If you are looking for agents who examine every part of a transaction in detail and cautiously take Sellers and Buyers from property introduction to closing...call the Hansons for all things real estate in southeastern Wisconsin and know that you will receive the prompt professional service and proven results you deserve for all things real estate.