Wednesday, December 14, 2011

Missed it again!

You guessed it. We did not get this deal done again. Had to ask the seller for yet another extension. Luckily they understood that the problem is the new lender not the buyer so they agreed. Buyer wants to spend Christmas in their new home. Stay tuned to see if it happens.

Thursday, December 8, 2011

Stress of getting to closing

You have finally found the perfect house. You make an offer and it is accepted! You've just gone under contract on your dream house, closing in 30 days.

But wait just a minute. Now you have to get through the minefield of getting your loan approved and through the dreaded underwriting. These days the stress really begins after you find the house. Lenders are super diligent, asking for more information every day. Now you missed your closing date, got it extended, missed it again and the lender is STILL NOT READY TO CLOSE. What to do?

Make sure you are working with a great real estate agent and a reputable mortgage company or bank. Realtors work with local lenders and can get theses situations worked out more often than not. Frustrating? Absolutely! But with their help you will get through that minefield and own your dream home.