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02893 : Real Estate Advice

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  • Home Buying4
  • Home Selling0
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Activity 7
Tue Jan 7, 2014
Annette Lawrence answered:
Question posted May, 2012
Still very relevant.
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It should happen EVERY time!
Also,you should know beforehand, that deposit check will be deposited..EVERY TIME.
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If an agent with whom you met showed you a few homes....and was never heard from again, I mean literally disappeared without a trace....what would happen? Some would report agent showed a buyer a few houses. As you may conclude....there's a bit of a safety issue involved. You do not mention whether your agent copied your drivers license or not and left it with the broker or office staff. Did you meet at the agents office?
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As REALTORS working with buyers, we are OBLIGATED to present viable, vetted buyers to agents helping owners sell their home. The home owner has expressly stated their home is not to be on the local entertainment circuit. Serious. able and willing buyers only.
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Now, right here on my HP laptop I can print out an approval letter for ANYBODY! And I actually have a hedge fund that will fund a purchase and allow me to print the approval letter. Be aware, no vetting of the buyer or any qualification whatsoever will taken place. This is the proverbial cash buyer, who hasn't a dime trolling for an assignment. Don't you think a prudent agent knows exactly what I am revealing here and knows they must be vigilant with vetting buyers?
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Now, in most cases, agents are dependent on the lender to complete their due diligence to confirm the buyer is who they say they are, has valid contact information, and can be tracked down. A call to the lender is often the only assurance the buyer is who they say they are. Such pressing and questioning from a real estate agent would not be tolerated by a buyer, as your question affirms.
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Furthermore, it is important to assess the capability of the lender. Often inquiring regarding what has been verified, what stage of discovery is the process currently at and the process of the lender is essential to preparing for rough seas or smooth sailing.
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A buyer should feel very fortunate to have met such a throughout and competent real estate professional...unless of course...there's something to hide. Then the "I won't sign anything" declaration means fasten your seat belts, there's turbulence ahead.
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0 votes 10 answers Share Flag
Tue Sep 14, 2010
Frank Denette answered:
Wow that's a great question, seek out contractors to come to your house and explain to them how big of a addition you want and what kind of materials. We can't give you a price we are not builders but if you need some good contractors there are plenty out there looking for work in RI. If you wanted a list of folks I could provide a list for you.

Thanks,
Frank D
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0 votes 2 answers Share Flag
Mon Dec 7, 2009
William Polack answered:
What happens if your car doesn't fit in the garage? Haha...Don't forget that the credit pull will affect your scores too. You'll lose about 15 points on that transaction. A car lender (as well as a mortgage lender) can pull your credit 15 times in a 30 day period and will only affect your score once. However, the lender will want to know what all the inquiries are for, so be prepared to write a letter of explanation. If you pull credit and wait over 30 days and pull again, you'll lose even more points. Make sure to stay over 760 (middle score) in order to give you all kinds of options when buying. Have fun! ... more
0 votes 9 answers Share Flag
Tue Sep 15, 2009
Brenda Fernandes answered:
Hi,
Try reading the link I am including, hopefully the information helps.
http://money.howstuffworks.com/personal-finance/real-estate/naca1.htm
0 votes 2 answers Share Flag
Fri Feb 27, 2009
David Chamberlain answered:
I will take this a step further, lenders have different criteria and when dealing with a mortgage broker some won't look between the lines, some deny a loan because they think it won't go through. Sometimes the numbers can be worked a little bit.

David Chamberlain
www.floridadreamloans.com
http://www.floridadreamloans.com/LoanModifications
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Wed Feb 25, 2009
Lori Rossi answered:
As stated below, this could mean many things-usually a short sale will take back up offers in case the buyer walks if the lender takes too long to respond to the offer. Perhaps the seller is weary about the buyers financing-especially with the tightening on credit lately. It is very common in this market, but there are still plenty available without offers-if your interested in finding one, give me a call.

Lori Rossi
401-480-1973
Lori.Rossi@Nemoves.com
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