I've been working on a file for a customer buying a condominium that has proven to be particularly challenging on many levels. I won't bore you with details, but suffice it to say, everything but the kitchen sink has somehow found its' way thrown into the approval process.
Aaaahhh yes ... the wonders and thrills of modern-day real estate ...
Even by today's standards ... this purchase has been what I'd politely call a "doozey". It could definitely serve as a textbook for many finer points of lending and buying a home. But even with that being the case ... there is one particular lesson from this transaction that screams out "SHARE ME"!
But first, let me ask you these simple questions ...
If you needed brain surgery ... would you hire a dentist to perform it?
If you needed someone to fly a jet ... would you hire a Nascar driver?
If you needed shoes for your feet ... would you shop in a coat department?
It's the same with real estate transactions. You need to match your needs ... protect your legal interests ... by searching for and hiring the correct legal professional. That means a knowledgeable and experienced REAL ESTATE ATTORNEY! Not a tax attorney. Not a divorce attorney. Not a corporate attorney.
Work with an attorney that specializes in real estate transactions. Especially in the current real estate climate, your best interests will be benefitted and best served by retaining an attorney with up-to-date knowledge an
d expertise facing today's real estate challenges.
In the file I speak of above, the buyer has not done this. They have retained an attorney, yes ... but real estate law is definitely not their daily focus or their forte'.
This fact has contributed to some of the problems and issues that have cropped up within the transaction, the number of communications it has taken to address those issues, and the length of time it has taken to process and underwrite this loan.
Simply stated ... the realities and machinations of the current real estate market escapes them and remain unknown.
I have written about it before. I will continue to address and write about it in the future, so as not to continue to see this problem arise ...
NOW IS NOT THE TIME TO WORK WITH INEXPERIENCED PEOPLE!
WORK WITH TRUE PROFESSIONALS ...
PROFESSIONALS THAT SPECIALIZE IN THE NEEDS YOU HAVE!
That means ... an experienced Short-Sale Agent, if considering a short-sale from either end of the deal. That means ... an experienced Realtor or agent that specializes in the type of any property or transaction that you seek. That means ... an experienced mortgage professional. One with a track record of successful transactions and closings addressing the mortgage issues and offering the programs that will benefit your financial scenario the most. That means ... retaining an actual experienced, knowledgeable Real Estate Attorney.
To not do so, can cost you in too many ways ...
* If in need of an experienced and knowledgeable mortgage professional, please contact me. I have over 35 years of successful mortgage industry experience with which to serve you and your needs. Contact me at: http://www.genemundt.com/Contact-Me.html. I will be happy to answer any questions you have and assist you with your needs. Thank you ...
Gene Mundt, Sr. Vice President
Personal NMLS #216987
The Federal Savings Bank
1823 Centre Point Circle, Naperville, IL 60563
Now on Skype! 630-219-1316
