So you’re thinking about buying a home in GA, you may be a first time home buyer and you may not be. Either way, you’re gonna need a lot of patience if you’re getting a mortgage loan to pay for the home and not cash.
You and your real estate agent find a great house that you adore and you want to make an offer on it. Your buyer’s agent writes up the purchase and sale agreement for you to sign.
The seller accepts your offer, what’s next?
Patience, paperwork, delays, more patience and paperwork, appraisals, inspections, repairs, more patience, paperwork, delays.
Are you ever gonna get to closing, hopefully so, after the lender goes through every minor detail about the house with a fine-tooth comb. Will they approve the loan? That’s where your patience kicks in and your willingness to fulfill the lender’s requests. What! they need more documentation from me??? But we’re supposed to close today!!!
Yes they may ask the buyer, the seller, the listing agent, the closing attorney, the inspectors, the appraisers or the selling agent for additional paperwork before they approve the loan. Then you say, Well I’ll just use another lender, don’t bother-it’ll be the same or it could be worse. Just comply with what the lender is asking for and be as cooperative as you can. The real estate contract does have “time is of the essence” in it.
Relax and give them what they want so you can buy your home. After all it is their money that they’re lending to you to pay for the home and the home is ”THE ONE” that you chose out of all the other homes that your real estate agent showed to you. It will be worth it in the end.
I do however, fault the mortgage lending industry for the difficulties in getting financed to buy a home. If they hadn’t been too greedy and money hungry in the past when they were giving out loans to just anybody, we would not be in such a jam today.
So now there are people who are rightfully qualified to purchase a home and they practically have to bend over backwards while giving birth to their firstborn to give to the lender and at the same time getting their arms and legs broken because they want all that too. Anything else Mr. Mortgage Lender?
As I said earlier, relax, do your part, have a lot of patience and it will all be worth it in the end.
YOU’LL HAVE YOUR DREAM HOME!!!
Contact me so I can help you find your dream home
Priscilla Hammond
Licensed Georgia Real Estate Agent
(404)503-6562
priscillahammond@live.com
http://www.bestgeorgiaagent.com
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