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Ok, Todd write about me and tell others to listen to you!

Clipart courtesy of srbicharaI tell my buyers that they need to tell me everything, even if it seems small, because if I don't know, it could cost them the house they are trying to buy. Well, this client has told me, "I've read enough of your posts to know that you are going to write about me and this situation, and please do, so someone else can learn from my mistake!"

The situation is this person was trying to buy a condo that was non-warrantable, because it was a condo conversion project and they were not quite at the 50% sales mark yet. So, I gave this client a list of three different lenders that I knew that could do a non-warrantable title loan. But, a shark of a mortgage broker promised her that he could "GET AROUND" the non-warrantability issue and give her a .25 % lower interest rate on the loan.

She bought it hook, line, and sinker and I found out three weeks later when title asked why they didn't have anything from the lender. I called the lender she told me she was going with and she said she hadn't signed anything still. So, I called my buyer and she told me what was up. I told her that I promised if this person "GOT AROUND" the issue, it was probably illegal and, more than likely, would call in a few weeks saying, sorry I was wrong and I can't save you any money.

But, more importantly, if the interest rates go up, you are going to have to pay more rather than less, well guess what happened? She waited and waited and the other broker called and said he couldn't do it, and because she didn't lock when I told her too, she is now paying 6.75% instead of the 6.25% that she would have if she had just listened to me a few weeks ago, or kept me in the loop that she was talking to another mortgage broker. I could have advised her that this was going to happen and helped her with her decision.

So, if you have a Realtor that you trust, please listen to them. If you have something that is of concern to you, please tell them so they can help you. We really are here to help!

Respect Realty LLC (Expect More)

 

At Respect Realty, LLC our agents believe in 100% dedication to client satisfaction.  We specialize in property and land acquisition around the Portland Metro and Vancouver, WA area. We delight in working with first time home buyers and sellers to guide them from start to finish. Our doors are always open and we are always happy to assist you with your real estate questions.

 

Reach out today, we look forward to talking with you!

 

Todd Clark and Seraina Aguayo (Owners of Respect Realty)

Respect Realty LLC (Expect More)

(503)564-3130

info@RespectRealtyNW.com

www.RespectRealtyNW.com

 

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Comment balloon 7 commentsRespect Realty LLC • July 02 2008 10:21AM
Ok, Todd write about me and tell others to listen to you!
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I tell my buyers that they need to tell me everything, even if it seems small, because if I don't know, it could cost them the house they are trying to buy. Well, this client has told me, "I've read enough of your posts to know that you are… more
For Sale by Owner (Who the hell are you? )
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