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Sunday, June 05, 2011

Oh the devil is always in the details - The Real Estate Transaction

"It all about the details..."
Oh the devil is always in the details and can really get you if you are not careful.”  Those were the comments left on one of my posts by Lisa of The Scott Loper Team Lansdale of Harleysville PA.

I just encountered one of them “devil” moments this week.   Like when the mortgage broker sends me an email that says “XXXXX St. is a town house?”  My response, "yes, we spoke about it when I sent you the buyer’s contract."

Apparently the lender he was sending my buyers through only does financing on second homes with 30% down. As my buyers were planning on 20% it was now one of those devil is always in the details moments.

Now the mortgage guy will be re-processing through another lender while I do an extension for a few weeks and hope the lender will wait.  After waiting four months on short sale approval I would hope the lender would accept a slight delay. 

Now, just thinking to myself now….do mortgage brokers and loan officers look at tax records or verify the type of structure when they start a loan transaction?

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