We HAD a CLOSING Yesterday Against ALL ODDS!

By
Real Estate Agent with Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 141871

We HAD a CLOSING Yesterday Against ALL ODDS!

 

No names here and no addresses but quite a story to tell! 

 

So in the interest of sharing the truth of "Do not give up until you've exhausted all viable possibilities to get the home you want".... 

 

Last Fall, Sellers put their home on the market.  They were moving out of town to the Tulsa area close to family but didn't want to look for a home until they had acontract on their sale.  We had a full price offer in 2 weeks, closing in 60 days or less (standard in our abstracting state). Buyers working with an out of state VA lender.   Sellers countered the closing date.  They wanted 6 months to closing so they could home shop in Tulsa. 

 

 

 

 

 

 

 

 

 

I could not believe that Buyers agreed to 6 months, but they did.  Sellers found a home in Tulsa and we set closing 6 weeks before the 6 month date. Sellers purchase contingent upon their sale here in Idabel.  Closing scheduled at the end of the month. Buyers gave their landlord notice.  Sellers scheduled the movers. 

 

We had a "Clear to Close" on Monday, for closing on Friday. The day before scheduled closing the Lender does a VOE (Verification of Employment) on both Buyers. The husband  had changed jobs in December.  He had been driving an hour commute to get to work.  He changed to a job that was 10 minutes away and paid more.  He had sent new pay stubs to the lender when he changed jobs.  Lender missed it in the emails from the Buyer but the VOE brought full attention to it. When Lender asked why the Buyer had not informed them, the Buyer informed the lender that they did and then  forwarded the emails that he had sent in December... crickets...  

 

Closing Cancelled.  Sellers have their household belonging in a moving van headed to Tulsa.  They are in a motel.  Buyers are packed and have to be out because their landlord has already rented their apartment.  

 

I had Mr Buyer call a Loan Officer in Oklahoma City that has done many loans for my clients, to see if he had any programs that would work for them.  Buyer  called me back a little later, disappointed because nothing was available.  

 

On a long shot, I called a local Mortgage Broker.  He was willing to look at all possibilities. I suggested a Rural Development Guaranteed loan since they needed 100% financing.   I then had the Buyers call that Mortgage Broker.   As it turned out, the buyers ended up with a Rural Development Guaranteed Loan in just the wife's name since the husband is the one that had changed jobs.  Her credit was good enough to do that.  The Mortgage Broker looked at their information and put it together for them.  

 

So 2 weeks after the first closing fell through, my clients closed closed on their home and they are moving their belongings from a storage unit into their new home, this week-end.  They have been staying with family until we closed.  Celebration time today!!  

 

When buying a home, it's important to choose carefully your real estate agent, your lender, and before making any changes in your situation, ask someone if that can cause a problem!  

 

Start by Calling Integrity Real Estate Services or visit us online at our website or at Idabel Homes. 

 

 

 

 

 

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Topic:
ActiveRain Community
Location:
Oklahoma McCurtain County
Groups:
Homes Land For Sale Idabel Oklahoma 74745
McCurtain County Oklahoma
Southeast Oklahoma
Tags:
choosing the right lender
choosing the right real estate agent idabel ok

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Show All Comments
Rainmaker
1,697,635
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Wow, I'm glad for everyone that this finally closed. Great job!

Apr 21, 2018 11:37 AM #1
Rainmaker
1,797,923
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

It's wonderful when it all comes together An Idabel OK Broker ~ Judi K Barrett isn't it.  I wonder if the 1st loan officer felt all the pain directed at him when he said no after HE screwed it up.

Apr 21, 2018 12:20 PM #2
Rainmaker
864,687
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

Congratulations.  Sounds like an emotional ordeal for buyer and seller, you too.

Apr 21, 2018 12:21 PM #3
Ambassador
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Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Oh boy An Idabel OK Broker ~ Judi K Barrett  what a stressful situation . That is why I always stress to my clients how important it is to go with a local mortgage banker who will stay in touch - and yes you are right --ask before you make a move but if he stayed in the same profession and was making more money I do not see the problem ...

Apr 21, 2018 01:51 PM #4
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Judie the important thing is that in the end it was a successful closing.   Congratulations!!!

Apr 21, 2018 04:49 PM #5
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I am glad it worked out. That part-time status probably didn't have a probablity of continuance stated that the underwriter needed. 

Apr 21, 2018 05:03 PM #6
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3,930,109
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

WHEW! Thank goodness you were proactive, Judi and wound up saving the day. Congratulations on your long-awaited Closing!

Enjoy your weekend!

Apr 21, 2018 05:04 PM #7
Rainmaker
3,510,713
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Wow, I am confident there were a few bottles of wine consumed through out this ordeal, I mean closing:) Congratulations against many obstacles still success was the final word, Endre

Apr 21, 2018 10:29 PM #8
Rainmaker
2,353,590
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Judi -wow what a relief.  That had to be tension filled.  I pays to check and double check in the process.

Apr 22, 2018 10:07 AM #11
Rainmaker
4,799,006
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Judi.  Great job in helping these people close on their home.  This must have been stressful for all.

Apr 24, 2018 04:25 AM #12
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1~Judi Barrett

BS Ed, Integrity Real Estate Services -IDABEL OK
Contact Judi Barrett about homes in Idabel Oklahoma!
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