Communication is so important. People need to be realistic on time lines. It takes time to close because there are so many moving parts. You need to rely on all parties to do their job fast and efficiently, including the borrowers to hand over certain documents. Also everyone needs to be on their game with no errors. Great info guys in explaining the process.
Thanks for the support. It's an interesting time in the market with low volume but lenders also have lower head counts. Many buyers and agents think turn times should be super fast due to the low volume but it's not necessarily the case so it makes that communication even more important!
Thanks for the great information! It definitely speaks to me how important it is to work with someone who you feal comfortable with and asks all the questions so they can find the best loan option for you.
I agree...its so much easier to avoid flags if you front load rather than a fast approval...and you go thru selling your home and unable to purchase a new one. You do not want to assume annnnyyyything and need all dots connected.
So are buyers looking for Sellers to pay for their buyers agent fee and do a rate buy down? Or do Sellers use the buyer agent fee amount to buy the rate down?
Hi Natasha....so far we haven't seen a significant percentage of sellers stop offering cooperative commission to cover the buyers agent. We'll keep everyone posted if that starts to change!
I would agree if you are trying to reduce interest liability but if you selling it could leave room for a buyer to have second thoughts... hapoy medium is best i guess...im just glad that selling part is over for me😂...and my moving part in new home😅
