In the real estate business there are some things we hear which are music to the ear such as...
- Offer accepted,
- Appraisal good,
- Loan approved!
And then there are things we do not like to hear like...
- Lost my job,
- Credit score dropped,
- Withdrawing our offer,
- Canceling based on the inspection results.
And then are the comments that we hear which are in the gray area in between good and not so good like...
- I may be paying too much,
- I picked the wrong loan officer/lender.
- Slow down!
Wait...stop the train! I heard two of the last three just this week and its only Tuesday!
Actually I heard the first one about a month ago after we had gone under contract. The buyer had started surfing the Internet to review sold properties in the same community. This was easily solved when I sent the comps again (current as opposed to the outdated stuff found on the Internet).
The lament about the lender choice was a disappointment. I guess past performance was not a real indicator of future performance as they had just closed a transaction for the same buyer a few months ago so you would have thought there would be no issues. Wrong!
Anyway, when I questioned the lender's progress, I was advised to "slow down!" At least it was not a polite shut up! Then I explained once again to the lender that my buyer is leaving the country for four weeks in only six days.
I understand the use of a power of attorney will be the likely solution. As for me slowing down... not likely until my transaction is closed on time.
Lenders...wouldn't it be nice if they were all good?
Just another week in real estate.... and its only Tuesday!
Music Notes Image courtesy of fotographic1980 at FreeDigitalPhotos.net
Covering ears Image courtesy of stockimages at FreeDigitalPhotos.net
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