Sometimes You Zig and Sometimes You Zag
My husband used to roll his eyes as I talked through a situation. Yes, women are famous for talking too much. When we were faced with anything from deciding on which vacuum to buy or a family vacation destination, I liked to talk throught the pros and cons of each option.
Drove him nuts, but he just grinned at me!
But this week this trait helped my buyer close on a loan. We were faced with an issue about seasoning funds. They were buying with a complicated package which included income, savings, home sale proceeds and two different trusts.
While it was clear to everyone, including the underwriter, that there isn't a real problem with the source of funds, guidelines were making the final approval difficult.
After numerous phone calls and emails, it became clear that we all needed to meet in person, so I arranged this to take place at the lender's office. During this meeting, we explored our options about moving money and taking title. In the end, based on the goals of the buyers, we were able to allow a trust to buy the property directly.
It actually made sense as they were planning to move the home into the trust any way.
The solution was not immediately apparent because not everyone knew what the goals of the buyers ultimately were. This was solved through discussion and brain storming.
Sometimes real estate is viewed as an us vs them...the "them" could be the other parties but sometimes it's the lender. Partnering is the key to overcoming road blocks in any transaction and by honestly exploring options, we can often find solutions which might have elluded us on our own.