I just got off the phone with a realtor..... MUST close by the 31st!!!!!!
Uh, do we have a contract? "No."
Do we have a survey? "They don't know"
Are we going to have an inspection? "I think so."
When is the option period up? "8 days(gives me 7 days)"
Yet another example of "Don't be THAT guy!!!"
Can I get it done? Yes, of course. Will I be happy about it? Absolutely not.
I have to get the appraisal ordered right away. And title work needs to be ordered right away as well.... that takes up to 5 days in itself. Not to mention the fact that we don't know whether a survey will be needed. And regardless of my current workload... it is kind of hopping around here right now.
Now, I have closed loans in 5 days. So you would think that 2 weeks wouldnt be a problem.... yet, i know this buyer.... and she is going to SCREAM if she has to pay for an appraisal during the option period, BEFORE the home is inspected. Yes, it is only a minor risk, but it is real money to this single mother.
Now, I will let you all guess the answer to the next question.
DO YOU THINK THE REALTOR CALLED ME AND ASKED ME ABOUT THE CLOSING DATE BEFORE WRITING THE OFFER?
maybe i should have touched on that, Chris
i understand that things happen and that these deals sometimes get sweeter if they can close fast. I dont have a problem with that. but this realtor has never met me or talked to me before except to give me her fax number for a prequal.
the main point was the no phone call thing. i have some banks that move at the speed of today's business and i have banks that still process loans like the old days.... which means i need more time.
It's a good thing you have no other obligations. ;-) j/k. I have had that happen to me a few times and it is annoying.
eddy,
3 - 5 days is the norm here in texas. seems like it leans towards 5 days lately
My realtors always ask me what I'm comfortable with in terms of closing time - and I'm very appreciative of their thoughtfulness!
Hey Tchaka!!!
Title can take 5 days if the tax info is behind. Some counties are BRUTAL on turning around tax certs. (If there are more cows than people in a county....expect the Courthouse to be open on Thursday's only, from 2:00-4:00. :^)
Of course tax ESTIMATES can be used.
We (Title) are often being pushed for real fast turnaround after the Realtor has taken their 2 months to close a deal and the Mortgage Broker another week or two to get lending..... HA.
Well Rob,
You ARE the end of the line.... and we all know what runs 'down hill'.
LOL
If this was a client you had a direct relationship with (not by means of the Realtor), then I would be upset as well that the client's representative isn't creating the best possible situation for a smooth and effortless closing. If the Realtor introduced you to the client, then you just gotta suck it up and deliver. Afterwards, over coffee, you need to sit down with the agent and explain the potential for you both looking bad when the time frame is compressed in that manner. Good luck! If you're too busy just send it over to me and I'll close it for you. :P
Ken Stampe - Bank of America
you are correct about whether this is a referral source deal or not..... and how it affects the relationship!!
and it was MY client!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
and i got NO CALL before the contract was inked..... sadly this happens too often.
i am not ragging on realtors(just this one). hopefully though, some here will learn from this...
if you ink a contract with a short closing date WITHOUT talking to the lender.... then the REALTOR is the bad guy on that deal when it doesnt close on time.... :-0
funny thing... the realtor said that her lender could close it in 7 days.... <== which means that this realtor is stupid!! how in the HECK can you say that.... without knowing ANYTHING about the borrowers situation.
did i say? sadly this happens TOO OFTEN?!?!?!?!!?!?!?!?!?!?!!?!?
LOL.... i was editing my tag cloud.
sorry
lol - don't apologize. I do that once in awhile also. I forget the notice goes to 'everyone' that commented.
Since this was January, I was curious. Nice job.
Rob