Do you think this is the new normal?
A young couple who recently graduated from college was considering buying a home in Florida. They weren’t even sure they could qualify until they talked with a loan officer. He gave them a pre-approval letter immediately, and that was the last good loan experience that they had.
Since that time, more than two months have passed and they were told they would close no later than March 3rd. The buyers felt that they gave the loan officer everything they could possibly want on time, and they requested seven additional documents that day.
Obviously, they did not close on March 3rd. They felt like this home was never going to close and lost their motivation to pack. They are supposed to close next Wednesday, and they reached out to the Realtor community online for help. They also asked the group, “Is this normal?”
The most surprising thing was most real estate professionals answered, “YES.”
I strongly disagree.
While having to provide every financial document that you ever encountered is normal with the new lending laws, but blowing past the close date without an explanation is not.
I know several professional loan officers from different companies who routinely close loans on time (or early).
Just like in any business, you have some people that fly by the seat of their pants. I avoid these folks like the plague.
I prefer to work with professional people who have systems in place so they ensure they have everything that they need in a timely manner.
Who wants to scramble around like crazy because your loan officer did not request the required documents until the last day.
I’m not letting some fool ruin my day and run my life due to their incompetence, and I won’t let that happen to you.
If you need a professional loan officer, who will make the process as easy as possible, then hit reply.
I will send you a list of several excellent people from four different local companies today.
This Deal of the Day in Nashville has expired because it sold. To see the latest Daily Deals, click the link below: