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The Straight Truth

By Jennifer Beeston @ Guaranteed Rate Mortgage

By Jennifer Beeston | Mortgage Broker
or Lender in California

Home Buyer Biggest Mistake #2; Not putting together an

Why you need an "A Team."

THE REALTOR
Let me start by saying a Realtor does not just show houses.  There is a lot more that a good Realtor does then drive you around and open doors.  Sadly many people think this is all a Realtor does, so it does not matter who they use,  WRONG
A good Realtor can get you a deal you never thought was possible.  A good Realtor has the skill and expertise to let you know when the deal you want is completely unrealistic.  A good Realtor can get you a house that meets your needs and protect you in the process.  A good Realtor makes your purchase painless or softens the pain when necessary.  A good Realtor can save a deal. A good Realtor is crucial.
When you are considering buying a home meet with a few Realtors and see who is most on their game and who you like.  Don't settle for your friend's cousins sister who sold one house last year.  YOU DESERVE THE BEST and it does not cost you more to have the best so why not.  If Ice cream was free would you pick the ice cream that fell on the floor?

The Lender:
A bad lender can waste your time, your Realtors time, and can create many sleepless nights for you.  You need to work with someone who knows what they are doing.  Calling an out of area 800 number for a large institution is not going to get you an A team.  Recently I had a client sent to me that exemplified this.  They had been prequalified by a large institution online to purchase a home for $300,000.  The seller wanted me to double check they were really qualified (totally normal in today's market).  They were not.  They had been prequalified for a $300,000 house but had negative income, bad credit and self employed less than 2 years, and only $1000 saved.  The large institution never asked for tax returns!!  Their Realtor had been showing them houses for over a year and based on their full file they were not qualified to buy a bike. I felt horrible for them and their Realtor. The wasted gas and Saturdays was just sad.
Once you found your Realtor they generally have a lender or 3 they recommend.  Talk to them all and ask the Realtor why they like each one.  Then choose and get prequalified BEFORE you go shopping.  If they do not ask for your tax returns you are not really prequalified. 
Having a lender your Realtor knows can get the job done can save you countless hours of grief.  If your Realtor does not have anyone, the sellers agent generally does.  Realtors in today's market are pretty savvy about knowing who can and cannot get a deal done.  You need a can. 

Title and Escrow:
A great Title and escrow officer are like icing on the cake.  If I could use my favorite title and escrow officers on every loan I would be thrilled.  In this market though the bulk of the sales are foreclosures which means the seller is generally choosing.  In that case it is the luck of the draw.  If you do get to choose ask your lender and Realtor who they like and why. Then choose.

With an "A team" you can get through any transaction no matter how harrowing it could seem.  With a D team good luck!

-Jennifer Ready www.Readybell.com
 

Comments

By Vera Gonzalez,  Tue Dec 21 2010, 22:26
Love the blog . reminds me of a line from fellow realtor."You are my favorite lender if you close me 20, lose me one and your done." As far as the Realtor goes I don't just walk through houses ,I help people make educated decisions, help any of the others on my team get paperwork or help put out fires any way I can.To this client this is their only deal, live it ,love it!


Have a great holiday,
Vera


Vera
By Bud Zeller,  Fri Dec 24 2010, 19:55
Good points and informatiom. However , since it's always, prudent practice to consider a sccoud source / opinion, visit: http://www.sierraproperties.com or email: zteam4u@gmail.com for assistance!

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