I always talk about the importance of hiring a good lender. Choosing a mortgage lender that is honest and will do the right thing. This is a true story that will make you think.

Transcription

Hi everyone. This is your Tampa Bay realtor Lance Mohr. In this video, I want to talk about hiring a really good loan officer and the importance of doing that. I want to give you a real-life scenario that happened to one of my buyers this week to really drive home the point on how important it is to hire and make sure you get a really good loan officer and honest company.

I had a buyer call me up and what happened, I just got back from vacation and I found out that there was a problem with the loan. The lender that he hired actually screwed up and it was being the delayed 3 days and he wasn't. They are not using the builder’s lender. What happened is the builder was charging him $300 per day for every day they did not close and so he was getting hit with a $900 bill. The good thing is, they had a really good loan officer, a really good company and they basically stepped up to the plate and pay that. Then you might be thinking yourself, well yeah, of course, they should you're absolutely right they should but I've been on the end where I’ve seen these lending companies not. There just like hey we're sorry this stuff happens. It's not our fault will get the loan done as quick as we can and their situations especially in this market right here that were in a seller's market, where if you don’t close on time and as a backup offer that's better than yours on a pre-owned home they might just cancel the contract, let it expire and take the other offer. Or if you're working with the builder or if it’s on a relocation company there's a per diem every day if you don't close in it could wind up into hundreds if not thousands of dollars. You need to make sure the lending company that you hire is good, is reputable, is honest and someone who's going to do the right thing.

Always ask for references. The best place to start a real estate agent. If they’ve been in the business a while they should have a really good relationship with a really good loan officer and mortgage company.

I hope this helps. Please give me a thumbs up if you like these videos and if you have any questions at all don't forget to leave them in the comments below. Have a wonderful day!

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