Yes. It's a simple word that can make a profound impact.
Imagine this. You've decided to buy a home, went though the pre approval process and started searching. In this hyper competitive market right now you look constantly. Every spare minute you have is dedicated to your home search. You've found homes that you like only to find out that they're already sold by the time you're ready to take a look. Finally you're able to put an offer in on a home that's just perfect. The trouble is that you're one of ten other offers… And every offer is strong. What's a listing agent to do? They start calling these buyers lenders to find out how strong of a buyer they are.
This scenario happens every day right now and it happened this week. When I picked up the phone the listing agent was polite but to the point. She said, Aaron, we like your buyers offer but need to know if you can close faster. Okay time out! You need to know something for some context here. We went in with a quick close time frame already… We had already offered a 27 day closing. This is fast. Big banks and most lenders are at 45 days right now, so 27 days is already extremely fast bu industry standards! Okay time in. What was my answer? I said yes. Simple as that. No hesitation, no stuttering, just that one little word… Yes.
They got the house! Did that answer make the difference. You bet it did. The listing agent told me that there were lots of good offers but the seller was looking to close as fast as possible. Its hard to believe that one would can make a break someone's dream.
Here's my questions for you. Who’s hands are you putting your dreams? Is it a big bank, an online lender that you found in an advertisement, or is it someone you can trust? When that listing agent calls your lender what are they going say? Will they hesitate, stutter, or just act non committal and say, “well you know this market is busy but we’ll do our best.”
Your hopes and dreams are at stake. It’s our privilege to be a part of this and we take that honor seriously. This is why we do what we do and we’re so grateful that people put their trust in us. That family got their dream home and we couldn't be more happy for them. So that's it's for now. Stay tuned for more home loan insights.