Hawaii Real Estate | Hawaii Relocations | Hawaii Home Buying & Selling


Exercise Your Contingency Rights to Ensure the Home Buyer is WELL Qualified

There are MANY loan officers” I’ve worked with for home buyers” or “on the other side of with home sellers” over the years. In doing so, I’ve ‘learned’ which loan officers and lenders are some of the seasoned best, so that a client will get some of the best referred loan officers to work with to purchase their new home.

A specific contingency in our Purchase Contract statesBuyer authorizes Seller and Seller’s Brokerage Firm to contact Buyer’s Lender and Escrow regarding the status of Buyer’s Mortgage Loan, including commitment letter and satisfaction of conditions. Colonnade Pool Area

As a seller’s agent, I exercise my right to PROTECT my sellers, and contact the buyer’s loan officer after receiving a contract. This is important!  I not only want to see that the buyer is qualified, but NEED to know if the buyer has already submitted all documentation with their loan application.

How else would the loan officer know the buyer is WELL qualified?

IF the buyer states (for the financing and money down part of the contract) that there are no contingencies for money down or closing costs, well by golly the sellers want to know too!  Why go through the whole loan process only to find out that the buyer does not have their money down? I ensure that my buyers are WELL qualified to obtain a home loan.

Otherwise, we are spinning wheels and putting everyone's life on hold.

Proof of Funds:  Showing proof of funds (their down payment) plays a giant part of the contract acceptance AND the loan approval.  The buyer may not qualify without this money down. 

We follow through for every detail on a contract…

…most importantly the buyer’s qualification…

…and money down….

To obtain a loan for their home purchase.




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.


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Hawaii Real Estate and Relocation Blog.

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Comment balloon 6 commentsCeleste "SALLY" Cheeseman • June 10 2014 04:42PM


Sally - I make that call to the buyer's lender too.  It sets the tone that I'm an agent who trusts, but verifies.  It's the smart way to respresent a seller.

Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) over 5 years ago

Chris Ann

It's always smart to verify and stay on top of the transaction.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) over 5 years ago

It is a good idea Sally, I have done this had had calls on buyers I represent. Time is money and we need to protect our clients and our interest too.

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) over 5 years ago

Makes good sense.  I wonder if that is the case here in Minnesota.  But, I suppose if the Buyers give permission it would be okay in any state.

Posted by Marshall Enterprises, Antiques, Lawn Care, and Trashouts (Marshall Enterprises ) over 5 years ago

Happily, our contract states the above (in my blog) so we have permission.

Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Liberty Homes) over 5 years ago

Sally-We do not have that contingency. But I wish we did. In most cases, we can get permission, but it would be better to just have as part of the Sale Agreement.

Posted by Wayne Johnson, San Antonio REALTOR, San Antonio Homes For Sale (Coldwell Banker D'Ann Harper REALTORS®) over 5 years ago

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