You might be surprised to learn that you can actually give
people too much information during a Mission Viejo home purchase
transaction. This applies to information
shared between the agents and their clients the buyers and the sellers, the
underwriter and the borrower, the loan rep and the listing agent, the escrow
officer and the buyers and the sellers.
Please dont miss understand! It
is crucial and obligatory to share any information regarding the condition of
the property or other information that has any effect on the value or
desirability of the property or the contracted dates for the completion of
specific events during a Mission Viejo home purchase. What I am referring to is the information
that, when shared prematurely or capriciously, might only serve to conjure up
some drama during the Mission Viejo home purchase process. Here are a few examples.
Does the sellers agent need to know that the loan rep for the buyers left for a mandatory two week sabbatical three days before the loan approval contingency was due to be removed? Not necessarily. If the loan rep has a backup who can take over for him, and he believes that with three days to go, youre probably going to be able to remove that contingency. No need to put bees in anyones bonnet just yet.
Does the sellers agent need to know that a snow storm forced a shutdown of the lenders East Coast office and the underwriter couldnt go in to work the day the buyers loan approval contingency was due to be removed? Without a doubt. This kind of delay, caused by a force majeure, might help to ease the granting of an extension for the removal of the contingency, rather than cause the seller to issue a cancellation of contract. This is a choice the seller gets to make and which he couldnt do so without all the pertinent information.
Does the FHA appraiser need to know that the broken furnace was repaired prior to close using some of the buyers initial deposit that the seller agreed to release to pay for the repair? I dont think so. As long as the unit is working when he arrives for the re-inspection, it matters little to him how the financing was arranged.
Do the sellers need to know about the glitch in the buyers
financing their agent happens to mention when you text her, one day before
their funds are due, to find out when theyll be wiring in their deposit. What kind of glitch? Who can fix the glitch? What is the likelihood that the glitch will
squash their ability to qualify for the loan they need to buy the sellers
house? Since it theres still one day
for the buyers to get rid of the glitch and get their money in, you choose to
ride it out and not alarm the sellers.
Thankfully, the glitch is gone the next day and escrow receives their
deposit. Insulating people during a
Mission Viejo home purchase from too much information that ends up resolving
itself is a choice agents make pretty much every day.
I'm Leslie Eskildsen, Realtor.
Call me. Text me. 949-678-3373
Email me. Leslie@LeslieEskildsen.com
Helping you make the right move in Mission Viejo, Coto de Caza, Rancho Santa Margarita, Irvine, Laguna Niguel, Laguna Hills, San Juan Capistrano, San Clemente, Laguna Beach, Newport Beach, Dana Point, Corona Del Mar, and other Orange County communities.