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 states: Buyer 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.
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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