Super, Duper week-end

Well, here we are on Monday aftyernoon and I am already getting into this social media stuff. I already wrote my real estate blog; I am coping this note in here, because it is so important. It is a note I recieved from my trusted loan officier. They play such a key role in the process of buying and selling real estate. Read this and let me know what you think.
Is that Pre-approval letter you’re holding Valid?One of our loan officers sold their mother’s house a couple of weeks ago and a loan officer wrote a pre-approval letter for the buyers contingent only on an appraisal and acceptable title work. A week into the process, she got a call saying that the parents were being added as co-signers because the co-borrower’s income wasn’t acceptable to the underwriter; less than a year on the job in a commissioned position. This past week, as we were completing loan applications for a number of borrowers, they shared pre-approval letters that they had already received from other lenders. When we asked them if they had actually sat down with the lender and completed all of the disclosures, provided paystubs, bank statements, and tax returns, etc, the answer in ALL cases was no. Each of them had merely had a conversation with someone on the phone or over the Internet. Nothing had been verified. Out of respect for the professionals who put themselves on the line daily and weekly to sell real estate, represent sellers and buyers, it is necessary that we ask a couple of questions to validate a pre-approval. Has the underwriter reviewed the file and issued an approval and what are the stipulations from the underwriter for final approval? In my business model, a pre-approval means that the file has been PROVED and underwritten. There are no shortcuts to reliable information. Do your sellers a favor and insist on full credit underwriting pre-approvals. They only take 24-48 hours with a qualified, prepared buyer and an in-house Underwriter. email me, madonna@seelhammer.com
This week end had 4 open houses, I felt like falling down last night. It was well worth the effort.