10/05/2024
This was by far one of the hardest and most challenging real estate transactions that I’ve had in a very long time. I might say that this is one of the hardest ones in my career so far. I inherited this client after they worked with two other real estate professionals and their daughter-in-law, who is a really good client of mine, her whole family had recommended them to work with me from the start. The start. They decided to work with two other agents, and when I got them mid August, they had to be out of their place by the end of the month inherit them with a lender that was not my preferred lender, and I allowed them to stay with their lender and not recommend them to move or to explore with my lenders, may offer only because they were using a down payment assistance program that their lender clean, they had already been underwritten and file was ready and all they needed was a house to finish the process. It took me four days and we were under contract with negotiated seller credits on this property. We started the process and we had a 45 day closing, remember my clients needed to be out at the end of August and we had a 45 day meeting we were closing at the end of September. So this entire transaction, my clients were under extreme stress because they couldn’t move out of their place and the landlord would not extend their lease so they were technically holdover tenants. We were under contract for about three weeks and comes to me and tells me oh by the way, my underwriter will not allow me to close this file until October 17 or the end of October because of something on one of the borrowers file, she told me they were underwritten surprises like this should’ve popped up. At this time, ace lender, Kyle McGann jumped into action as he always does grabbed their file, took it directly to his underwriter and made sure that it would not be an issue and got the condition approved before we started. They had to find my clients 100% financing because they had already been approved for 100% financing and they did not have money for their down payment and closing cost. among other things, we had to find them a gift of six months of mortgage payments that had to be verified by the underwriter in order for them to be approved. When I tell you this story and this clothing is a true testament of it takes a village to get things done. All the way up to 30 minutes before closing, everyone was working tirelessly to get this house closed. We made it.
