The NEW PROBLEM most Denver Realtors, home buyers and home sellers are dealing with is that it is VERY difficult to get mortgage loan financing today. The sellers are faced with dealing with Purchase Offers that have unrealistic financing options - many that are not available in our current market. Denver Real Estate Agents need to ensure that their buyers have talked to their lenders and make sure they have the financing they're writing into the contracts.
Way too many Denver Realtors and agents are writing Purchase Offers with financing that's NOT AVAILABLE anymore - putting their license at risk for a lawsuit - and wasting buyers and sellers time and energy! The best advice and "words of wisdom" for all Denver Realtors is to accept our changing market and changing financing options! Loans have changed and been altered dramatically, so you have to know what is currently available or you will waste time writing Purchase Offers. Call the lender and make sure you get a printed computer Loan Pre-Approval, Good Faith Estimate, Truth in Lending Disclosure and written Lender Letter describing the loan and loan closing costs - or you may end up LOSING the home of your dreams...
Realtors need to write realistic financing in your contracts and encourage buyers to have a strong Pre-Approval completed before EVER getting started or getting in the car to see homes! You'll save time and energy by being prepared and essentially being a cash buyer with a strong Pre-Approval Letter. Buying and Selling Denver and Highlands Ranch real estate should not be a tough chore when you have all your mortgage loan financing done in advance!
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2 comments:
Good advice sure. In todays buyer market it is helpfull to reflect on lending trends.
I agree. Today's Real Estate Market has changed dramatically. Your advise makes sense and I'm sure that you have some great information to provide in Financing for Real Estate Customers.
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