After posting From Call to Contract: Doing My Homework yesterday, I thought I would tell you all about why it took so long to submit an offer for my buyer when she was adamant about the condo she wanted on Sunday.
My client had already started the process with the lender of her choosing.
After we looked at a few condos and townhouses on Sunday she had already found the condo she wanted. When she walked into this unit you could see that she felt like "this was home". I could tell that anything we saw after this one would not mean much. So, since she would be submitting all her docs to her credit union Monday she wanted to be sure everything would be okay and then we would submit the offer in the evening.
Well, her lender procrastinated Monday, did not return calls, they were rude to my client on Tuesday morning and my client was so stressed out that I could hear it in her voice. She had been going back and forth on long distance calls to the mainland and it was so frustrating. I asked if she would like to check on VA loans with a Hawaii local lender and I referred her and gave her his number. After one hour we had a prequalification letter in hand. And that's that.
This Broker even told her that she could leave the credit union open as an option if she wasn't sure and needed to feel safe with a back up. She said NO! And she went on further to explain that if the credit union was going to treat her that way and not even get back to her quickly that she doesn't even want to consider them anymore to go through a whole transaction.
I do not like to get in the way of a lender that my clients chose although I sure will be on the ball once I see my client is not being taken care of. It is imperative that all parties involved in a real estate transaction be able to work in sync to make for a smooth transaction. I couldn't see this happening at all and neither could my client!
My client is now happy and a load has been lifted off her shoulders. She said she has a great agent and LO now and that if this LO is anything like me she'll be fine. Doesn't it feel good when a client knows you're thinking in their best interests? Isn't it nice for the client to know that we are going above and beyond to make sure they have as little stress as possible from the very beginning?
*Note: In Hawaii, the buyer does not have any recourse with a mainland (out of state) lender if something goes wrong. It is always advisable to have a local lender who knows Hawaii Real Estate Laws and the transaction process not to mention being on hand to walk the client through every step of the loan process as well.
**And.....I just got a verbal acceptance for the contract. Docs to follow ..... WooHoo!
Celeste "Sally" Cheeseman is a Realtor-Associate® and Certified Residential Specialist (CRS) with Century 21 Liberty Homes in Mililani, Hawaii. With a sharp understanding that a listening ear is the key to a client's needs she serves the island of Oahu (Honolulu County) and all Hawaii Military Relocations, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents, Home Buyers and Sellers.
© 2007-2011 Celeste "Sally" Cheeseman's Hawaii Real Estate and Relocation Blog.
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Lisa: I'd rather give her three choices but ONE main choice for one that is very good with VA loans and one I have no problem believing will do this one the RIGHT way.
Sally, in this business we have to get back to people quickly, and there is no reason why a Loan Officer who knows what he is doing can't run credit, take a full application, run it through Automated Underwriting, and tell the Borrower whether or not they are pre-approved in less than an hour.
Glad that you Loan Officer got the loan in stead of the Credit Union that ignored your Buyer.
Joan: That's too bad! What a mess sometimes...it's sad that even though they had lower rates that they did not have the experience nor the expertise to make for a smooth transaction!
George: Yup...I'm glad she did as well. She is very happy with the expertise this LO has given to her......I believe in getting back quickly. If I was one who turned off the phone at a certain time ....I would not have picked her call up last Friday evening at 7pm... :) I love answering the phone :)
I have had a similar situation Sally. I think that when you are on top of things, and have immediate second choices for your clients, to make the deal go smooth, it shows them who the professional really is. Congratulations on the acceptance, good luck!!
Sally,
We all have been in situations where the lenders were not very helpful. You had the foresight to be able to intervene on your clients behalf to get the job done. Way to go!!
Way to take the matter into your own capable hands. Sometimes that is what we need to do to get the job done. Like Midori, lenders that are unresponsive not to mention rude just leave me wondering what are they thinking?
I try to stay clear of them unless I have to step in and accelerate their follow up-and you know how I feel about that issue.
Yeah!!! Sorry to hear about the troubles at first...
Did I miss in the first post where she found the condo? I'm off to read it again. :) Congratulations Sally!!
Midori: No kidding Midori....I told her yesterday that I believe people come into our lives for a reason....this one will be the first one I got directly from and ActiveRain post. I just knew all this hard work would amount to something.
Cynthia: Uh, that they don't care but anything but the buck?
Carole: I know I made a difference to guide in the right direction. I have worked with this LO on MANY transactions over the years and if it's one person that knows his stuff is....this guy.
Neal: Yup...need to get on the ball
Dan: I know I did well on this one. She is smiling :)
Steph: Yup....she found the one she liked on that first one. :)
BB: WooHoo Sally! But this one was really bad. I'd had client's that had the same CU but it was not nearly as bad as this one.
MATT: Hey, if anyone is coming your way you can bet I'd refer em to you!
B & B: No kidding! It's not like everyone is running around asking for loans from that CU only! Thanks