Jay Sunderland

I'm a:	Real Estate Professional
Location:	Lake Stevens
Web sites:	My Web Site
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Jay Sunderla…'s Questions (0)

Jay Sunderla…'s Answers (9)

What can I do if I want to confirm my good faith estimate is accurate?

Asked Thu May 17 2007, 17:58 by Mitchell Hall - Seattle - General Area - 10 answers

Jay Sunderland answered:

We advise our clients to get a s econd GFE. It is my understanding that the estimate must be within 10% of actual costs according to law, but some lender's costs are lower than others, so you may get a lower (or higher) GFE - Wed Aug 8 2007, 08:15

When should someone get preapproved for a mortgage?

Asked Sat May 12 2007, 17:39 by Seattle Mort… - Seattle - Home Buying - 24 answers

Jay Sunderland answered:

Obtaining an approval for a loan before looking at homes is in the buyer's best interest. When you find the home you wish to buy, your offer will be stronger, all things being equal, than an offer with just a pre-qualification letter. As a Broker, I can tell you that agents prefer to show homes to clients with approval letters. The fear if you don't have one is that the agent will show you the perfect home, only to find you can't get enough financing for it. After that, all homes look second-rate and you'll feel like you had to settle. A good agent doesn't want you to settle - they want you to find and buy the right home for you. - Wed Aug 8 2007, 08:12

How much will buying a car impact my home purchase?

Asked Sun May 20 2007, 02:22 by John Novak - Seattle - Financing - 11 answers

Jay Sunderland answered:

The issue here is timing. If you're in the process of trying to obtain a loan for a home purchase, I have just one piece of advice: DON'T DO IT! wait until AFTER you close on the property to buy the vehicle. Adding more debt when you're trying to get a loan can be the kiss of death for your ability to finance a property. - Wed Aug 8 2007, 08:05

Is a former realtor obligated to a commission?

Asked Mon Jul 2 2007, 19:04 by R - Redmond - Home Selling - 14 answers

Jay Sunderland answered:

It seems to me that the relevant issue here is whether or not you want the sale to happen. I don't believe that a non-washington licensed agent is due a commission because any other non-licensed person would not be. Yet, if the buyer/agent feels he feels otherwise, you have to decide whether to agree and allow the sale to happen or disagree and possibly lose the sale. My suggestion is to have your agent negotiate with this person. That may clear the issue up. If you are selling By Owner, I wish you the best. - Wed Aug 8 2007, 07:59

Should I be concerned if my Loan Officer told me to state my income higher?

Asked Mon May 21 2007, 18:34 by Gena Riede - Seattle - Financing - 15 answers

Jay Sunderland answered:

My guess is you already know the answer to this since you felt strongly enough to ask about it. If you feel this to be a breach of ethics, it proably is. If the lender has good reasons for this, he/she may not have explained them fully. Ask your lender to explain his/her reason for this and then make a decision based on what you think is right. Remember, in general, even if something is legal, it may not be the right thing to do. - Wed Aug 8 2007, 07:52

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