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6/23/2017

Get your Offer Accepted and Sit Pretty



You know the basics: sit come, and down for dog training 
 but Real Estate is not that simple. In this Seller's Market it
is difficult to get your offer accepted. Here's a list of strategies to get into your next home.
Simple commands to get Seller to Accept your offer:

Know the location and market you are shopping in advance. I can share Home Scouting app

https://hbsr.homescouting.com/SignIn   password is 9497849699




 
  1. Get in ASAP to view the property, before broker preview. Be respectful and quiet while walking through the home, take notes, or images. Discuss with your agent in the car.
  2. Write thank you note to listing agent addressed to seller 
  3. Get clean offer in immediately with every line exact
  4. Make your highest and best offer first without a list of requests
  5. Have loan pre-approval from lender who can close in 20 days. Write the contract with 7 day contingencies. Make sure lender writes that they can complete appraisal in 7 days ad final approval in 10 days. Get your paperwork in to lender BEFORE making offers.  You agent can note that if seller needs more time to rent back, that may be possible
  6. Large earnest money deposit
  7.  Show large down payment, cross out account numbers
  8. Write a personal letter about why you love this house the details why it suits your needs

Work with local agent who is well respected and lender also who is respected.
Your auntie from 200 miles away may not have the clout that a buyer's agent in the neighborhood has. Same with lender, an online lender or big box bank may not close on time


Want apply to get you loan pre- approved?

https://carolinegerardo.eaglehm.com/

apply now

6/02/2017

Win $1000 Easy Peasy

5/31/2017

CFPB On Consumer's Back


CFPB's Proposed Amendment to TRID Disclosures Impact Lenders
Oh NO MR BILL 
We are going to hit you on the back side of the head, again
3 working days to Wait for LE, 
three more to lock, 
three more for final CD 
but escrow has to massage the numbers two days 
so minimum Federal requirement for closing a loan in perfect conditions is nine working days
 BUT
lender has to pay for appraisal re-inspection, any interest rate increases, seller
can't give last minute credits, no add ins of repairs at the end. 
Mine government at work....
or not as the case may be Mr. Bill don't worry we'll get you into a home.

Mortgage lenders fear violating the disclosure requirements of the TILA-RESPA Integrated Disclosure Rule ("TRID" or "Rule"). 

Consumer Financial Protection Bureau ("CFPB") provided informal guidance on certain issues prior to the October 2015 effective date of the Rule, ambiguities in the Rule remain that impact accurate delivery of the Loan Estimate ("LE") and Closing Disclosure ("CD") in connection with applications for closed-end, real estate-secured mortgage loans. The CFPB recognized that regulatory amendments were necessary to memorialize this informal guidance regarding the LE and CD to reduce the risk to lenders of TRID violations.

On July 29, 2016, the CFPB issued a Notice of Proposed Rulemaking ("NPRM") to propose a number of amendments to TRID that would formalize certain of its informal guidance and make other technical changes to the Rule. 
The NPRM does not touch on every issue that industry participants have raised, but it is a step in the right direction, indicating that the CFPB is sensitive to some of the challenges created by the Rule.
Although the NPRM does not provide all the cures that lenders would have hoped for, many of the proposals should provide some relief to them. As mortgage industry participants continue to anxiously await the CFPB's final regulations to implement these proposed changes
Pray the proposals  improve upon the challenges that lenders currently face in providing accurate LEs and CDs to consumers.