Todd McKee

Hello again AR nation. Just another week, and another learning experience.

I'm currently working with a client to get them into their new home. I love the whole experience of doing this. However, it seems every home I sell brings a new set of hurdles to overcome.

A little back story...We signed the contract on a home about 4 weeks ago. As is standard practice with most all agents now, I included a pre-qual letter with the offer. After a little back and forth, we agree on the final price, and begin the loan process. I'm sure we are all well aware that banks are very tight on giving loans right now, and you just never know what will happen.

Having said that, the only real issue I've had with the loan process, is that I was never informed that the initial loan was denied. I know that mortgage brokers will re-submit to multiple lenders when necessary, but we were tentatively scheduled to close next Tuesday, and now cannot. I found out one week prior to the close, that the loan had been re-packaged and re-submitted.

As I said before, I know this is part of the process, and we were trying to close in less than 30 days. I would have really preferred to have been informed as soon as the first loan was denied, so I could have let the seller know that there was a delay, just as a professional courtesy.

I'm not upset at my clients, or even at the mortgage broker. It happens. At least I know moving forward, I need to be a little more pro-active in gathering my information. I just wanted to get your stories and oppinions on this matter.

Looking forward to all the great responses, yet again.

Have a great weekend.

-T

I've struggled for quite a while before writing this blog. Honestly, I'm just not too sure how it will come out, so I'll just start writing, and see what happens.

I recently changed brokers, and I know it happens every day. I was just not expecting the reaction that I have received from my former broker. I guess I was just hoping for a little more professionalism from a business owner.

I have had a couple of questions about tying up loose ends since I left, and I get no response. Is this normal?!? I don't feel like I left under bad circumstances. I simply could not afford to pay the monthly fee to the franchise. I was hoping to go full time soon, but with the arrival of my third daughter, it just was not an option. I was simply not selling enough to have the additional expense every month. My wife is a stay at home mom, so this is how we suppliment my full time income.

I became a realtor to help people out, not become rich. I know, that's just crazy talk, and maybe that is the reason for the annomocity right now.

If you have been through this, and it's just the usual process, please let me know. I wasn't raised to treat people like that. I'm not part of the office any more, so I don't expect to be treated as such. But at least respond to an e-mail!

Thanks again for the forum, and I look forward to hearing your oppinions (good or bad). I'm a big boy, so don't hold back!

Have a great night!!

On Thursday, I ratafied another contract. Now, I will gladly admit, that I don't do a ton of business. As many of you know, I also work a "day job" for insurance purposes. I have been a realtor for about a year now, so I guess I'm still considered "new" to the field, but I still love the process, the education (for me as well as my clients), and the feeling of satisfaction that I get when I know I have done the best possible job for my clients.

The latest one was actually officially ratified on the couples anniversary...I mean how cool is that!! What other profession can you have to give a memory like that! I think this one feels as good, if not better than my first sale. I feel more knowlegable in the information that I was able to give to my clients. I was able to ride solo, without having to get a lot of common information from my broker. Not that it's bad to have access to that information, but it was nice to have the confidence of knowing that you are being accurate.

Anyway, I'm trying to turn more people on to AR, since it is such a huge resource. I can atest to that.

Thanks again for the forum, and thanks in advance for any comments left.

Have a great weekend!!

-Todd

First of all, let me give a huge thank you to all the open house advice I received. Rest assured that I will put it to good use, and let everyone know how it works. All the ideas also got the wheels turning with some of my own ideas, that I will test and gladly pass along if they work.

On the home front, we finally closed on the HUD house today, and the clients are very excited to get started working on their new home. I haven't sold a lot of homes, but I still love the feeling when it finally closes, and the client is happy.

That point leads me to this point, and that is why I do this. People ask me why I would want to get into the real estate business in this economy. The answer is simple...sort of. I purchased a home in 2007 (I know, I know), and yes, I got way more than I bargained for. As with everyone at that time, I overpaid for a house, trusted a home inspector that I shouldn't have, and regreted the decision on so many levels.

So, instead of sitting around feeling sorry for myself, I decided to become an agent, and if only for a few people, keep it from happening to someone else. I know it sounds a bit 60's, making a difference one person at a time, but it is how I feel about it. I'm the furthest thing from that mindset in most other things in my life. I still feel like (as I'm sure most of you do), that too many agents, and people in general, forget what it feels like to genuinely help someone jus to help someone.

That is why I do it. Yes, I like a comission check as much as anyone, and at the end of the day I could not afford to do this for free (I'm not crazy...I have a wife and 3 kids!), but I keep that part out of my mind when I am helping someone find their new home. I don't really care if it's a $20,000 handyman special, or a $500,000 dream home. I try to give them what they want.

I hope that it doesn't sound like I'm getting on any kind of a soapbox, because I'm not. I just want everyone to know, and hopefully remember who is trully important in our business.

Thanks again for all your responses and opinions.

Have a great night!!

-Todd

Ok. Let me preface this by saying thank you to everyone involved in this process from the selling agent, to the title company, to my lending officer, and most of all to my client.

I am currently in what seems like has been an endless delay to close a HUD property. The house is a very good purchase for my client, and everything she hoped to get in her new home. I will leave the name of the company (not the local agent, but the company who is representing HUD) out of the conversation, because it is not important.

We initially signed the contract in late March, hoping to have a 45 day close. Immediately out of the gate, I was told that the above mentioned, nameless company and their closing company, were not speeking to each other due to some contract dispute. So, I patiently waited and stayed in polite contact with them to see if there was any kind of a time table on getting a ratified contract. After about two weeks of contacts via e-mail and telephone, I was basically told "don't call us, we'll call you."

So, I patiently waited and kept my client posted with the same information I was given. In the meantime, the financing changed from a USDA loan to an FHA loan. As soon as it did, I informed the company handling the contract, that I needed to do an ademdum to the contract, and additional inspections needed to be done to the house due to the change. I was promptly told that I needed to do better research, because they had never heard of such a thing...(I'm still at a loss on that one.)

Finally on April 27, we get a ratified contract, and the ball begins to roll again...so I thought. I mada all the necessary phone calls, e-mails, etc., and asked the company handling the contract once again about an adendum to the original contract, and was given the same answer. Fortunately we were able to get financing through, thanks to the hard work of the mortgage officer we were working with.

On May 11, I was told that they needed an andendum to the contract, because financing went to FHA...I'd never heard of such a thing! LOL

I did as I was told, and was blamed accordingly for the ball being dropped, but I did not care. The selling agent was in constant contact with me, and blame didn't matter to me, I wanted to get my clients into a home! One week later, after the adendum was overnited to them (with signiture confermation), I was informed that they still did not have all the documentation to do a termite inspection and lead based paint inspection...on a home built in 1985.

Without rambling on too much further, because I think you get the idea, my clients rate locke runs out tomorrow, the inspections and tratments have been done since Monday, and we are penciled in for 2 o'clock tomorrow to close, with a 50/50 chance of it not happening.

I was told at the outset of this process, that this would be a nightmare. I have learned more from this one transaction, than any amout of effortless ones. My client is still happy, and almost excited, I have been sooo educated on every aspect of the HUD process, I have made a good contact with the selling agent (she said many of the agents just throw up their hands and walk away by this point. This is not uncommon with HUD properties, I guess), and I have learned the most important lesson of all...P A T I E N C E ! ! ! You can never rush the person holding the keys to your clients new home, especially when it's the government.

Thank you all for lending me your computer screen to share a story.

Happy selling, and have a great night!!

-Todd