Useful Hints For Smoother Transactions and Happier Customers

costa rica caribbean real estate
costa rica commercial real estate
costa rica escazu real estate

We are fortunate to have our own Coldwell Banker Mortgage lender available to assist  clients in our NW Austin office.  CT Hancock offers excellent service and provides insightful information to agents with suggestions that can help our transactions move along smoothly in our current lending environment.

Recently he spoke at an office sales meeting and offered 11 helpful hints to facilitating our transactions thus producing happier clients:

• DO NOT attach “Non Realty Items Addendum” with the contract.  Lenders cannot loan on personal property - only on the actual property!  Lenders will ask for this to be removed and can cause confusion for buyers and sellers.  A “Bill of Sale” can be included but this should be separate from the contract.

 

• DO NOT add seller concessions “in lieu of repairs”…CBM will ask for repairs to be completed and final inspections required.  Additional funds CAN be applied for closing costs but no explanation is needed.

 

• DO NOT include copies of inspection reports.  We do not need these and do not want to see them.

 

• DO provide complete title company information.  We need contact name, phone  number, fax number and, if possible, email address.  When we register the loan, we have to complete this information and “Hexter Fair” does not indicate which one, who the closer is, etc.

 

• DO provide complete HOA information if possible.  Again, when we register the loan we have to complete this information.

 

• DO complete the contract!  Execution date, receipted page, etc. are critical to accuracy.

 

• DO include ALL amendments and changes to the contract.  If seller concessions are added on an amendment, then the contract with ALL pages has to be resent to the appraiser to make the notations on the appraisal and then sent back to the underwriter for final review.  Depending on appraisal turnaround, this could delay closing.

 

• DO include the “FHA/VA Purchase Addendum” on FHA/VA transactions.  This form has to be signed by borrowers, sellers and selling agents.  The selling agent is the buyer’s agent…the one that is actually “selling” the house.  There has been some confusion on this form!  CBM supplies this form with pre-approvals now so it can all be done at one time!  Otherwise, the processor and/or I will send you the form to be completed.

 

• DO allow at least 30 days for a closing!  On shorter closings, we may be asking for items up until the day before closing.  WE WILL ACCOMMODATE all closings we can…but want to make sure that your client has the best customer service available and is happy with the transaction.

 

• DO provide a copy of the MLS sheet when you supply the contract.  Because of our commitment to accuracy, the information on the MLS sheet allows us to register the loan with the proper information upfront.

 

• DO include an amendment signed by all parties if you are giving any type of “credit” at closing.  This must be included so that it can be reflected on the HUD.  We have had issues where builders, etc. will not allow this.

If you’re a buyer and would like to make a purchase then let me put my knowledge of the NW communities to work for you!  I have systems in place, references and am a good listener and communicator.  I would be honored to schedule time to see if we are a good match.  CT Hancock is always on hand to visit with you concerning pre-qualification.

Search for homes in NW Austin

“WE ARE ALWAYS HERE TO ASSIST YOU!”