Admin

why, oh why must lending me so messy?

By
Real Estate Agent with Coldwell Banker United, Realtors

So, there I was feeling sick waiting for a close that I hoped would close. I say hope, because two days before the closing date I was still sending needed documents.  Oh, I warned them. I warned them all. No way we can close that quickly. When do you get your check? Well, the closing is set at 4:30 in the afternoon so plan on at least another day or two. Oh? Okay, let's close four days early anyway, just in case.  Twenty phone calls, a frustrated closer, an upset client, a confused agent, and a big mess later... The closing gets moved to another day. Imagine that! 

I find myself wondering how I could have handled that situation differently.  I suggested, listed problems that could arise, I wanted to wait, but how do you convince another agent, their client, and your client, that waiting four more days is not a bad thing?

Any suggestions on how to better handle this type of situation, ( I hope I never have again) would be greatly appreciated. Thanks.

Christina Ewing
Perl Mortgage - Chicago, IL

Just start setting the expecation that this is what the process may be like. You will lock, but you may not hear from us regarding any additional documentation needed until just before the closing. Ever since I have been doing that, I've had MUCH happier customers. You can't control the process (unfortunately), but you can control the expectations you set! After 10 years in this industry, I haven't seen the process do anything but improve!

Jul 10, 2008 11:21 AM
Patrick Johnson
Windermere - Bellingham, WA

Man, the only thing you can do is just communicate, communicate and communicate. If everyone his kept up to speed as everything comes to your attention, you know you have done everything you can do. Unfortunately, it is a stressful situation for most buyer/sellers but the other agents should realize these things happen.

Jul 10, 2008 11:38 AM
Chris Cox
Coldwell Banker United, Realtors - Tyler, TX

Thanks Christina, and Patrick for the comments. I will continue to keep the lines of communication open, and try to keep a positive outlook for all parties.

Jul 11, 2008 01:47 AM