When a seller is looking to sell a home the most important thing that they should be concerned about is that the buyer that they choose to sell the home to actually has the ability to buy the home.
You only want to sell a home once. When it gets into contract you want to be sure that the buyer has the ability to purchase this home.
Often times another lender might not have been as thorough with a buyer’s preapproval, they might not have gotten that buyer screened by an underwriter, perhaps they have not asked for all of the required documentation, perhaps they have not spoken to the buyer in six months and there has been a job change.
That buyer may no longer be approved but everybody thinks the buyer is approved.
Services We Provide to Our Clients
Part of the service that we provide, and you would like to partner with a real estate agent that has a lending partner that would be willing to screen the buyers with an underwriter’s approval.
When you are partnering with a real estate agent to sell your home it is a great idea that the real estate agent is partnered with a lending partner that will approve and screen the buyers an underwriter.
You want the buyers to be approved by an underwriter upfront so that you have a guaranteed lending commitment. That way you know when you are selling the home to a buyer an underwriter has given the blessing that this buyer has the ability to buy this home.
We have seen it in the past where a buyer shows up with a preapproval letter in hand and the seller decides to sell this home to the buyer only to find out later that the buyer that is going to purchase the home has since left their W-2 job and has switched to a 1099 job where they are an independent contractor. Or they moved from a salary job to an hourly job. Or they moved from a salary job to a job that is highly commissioned or has a lot of bonus income and they do not have the two year history. Or they have switched to something where they no longer have the required reserves and assets that are needed.
My point being is that loan officers will screen a buyer and look at their income, assets, debt and credit. Humans are prone to mistakes.
You’d like to work with ideally a real estate agent that has a lending partner that will get your buyer approved by an underwriter. That way, you know that the buyer has the ability to purchase the home they are buying from you, the seller.
Whether or not they use my company to do the loan is not what is important here. We can just be the safety net. If we are able to earn the business, if we are offering something more beneficial, then great!
The primary role that I serve and the service that my team provides to the real estate agent is screening buyers to guarantee the seller that the buyer you are selling the home to has the ability to perform.