When you’re in a real estate deal, it’s easy to find people who won’t represent you in the right way.
We see it all the time: a buyer wasn’t treated well in their transaction, whether it was the terms they agreed upon or just generally not being stood up for. And oftentimes, this is due to the lender they used. It’s not their fault; often, the agent they work with pushes them towards one that they prefer.
Here are a few ways that a "not so good" lender can hurt the buyers:
- Not helping the buyer get the best interest rate which can cost thousands over the life of the loan
- Pushing the buyer into a loan type or program that benefits the lender, not the buyer
- Missing deadlines which could result in not closing at all
- Lack of experience with how to handle issues like incorrect appraisals
- Not communicating throughout the process which could cause unwanted surprises and additional payments at closing
Thankfully, The Zachos Team works to remedy this.
We have several mortgage brokers we work with who we know and trust. We recommend these brokers to our clients and let them “fight it out,” so to speak, so that our buyers are getting the person who works best for them. With a rotating list of people, we can be sure we’re not playing favorites.
Here are some ways that a good lender can benefit buyers:
- Looking at the buyer's unique situation and recommending the best loan programs to choose from
- Getting the best types of loan, rates, terms and fees overall
- Working with the buyer to determine what they can afford and how much to put down to get a monthly payment that fits into their budget
- Keeping up with deadlines and getting to the closing table on time
- Good communication with quick responses when time is of the essence
With our help, you can be sure that your transaction is in good, impartial hands.
If you’ve struggled finding the right people in your transactions before, contact The Zachos Team. We make sure that our clients get the best possible treatment from all angles, to create a smooth process from start to finish.
Written by Paul Zachos III