"If you can find someone better at this Real Estate Thing - We will have their name tattooed on our arm :) - " I wish I could take credit for this quote - It's not ours - but it's out there in the blogosphere... Onto the FREAKY FRIDAY SANTA CLARITA DAILY SHOW...
Did you hear the news about the latest event in the Santa Clarita Real Estate world?
(insert parody here reference Peter Griffith's "The Bird is the word" from the Family Guy...) :)
We just had 19 new real estate listings hit the local, Santa Clarita Valley real estate market for sale, within the past 24 hours.
The reason why this is quite impressive has to do with lacking inventory and the issues we have seen present themselves with regard to buyers.
This will excite quite a few people - depending on the "true status" of the new listings. FYI - I say "new", not in year built, but because they have not been listed for sale until the past 24 hours.
Here is a tip that we cover in our Santa Clarita Crash Course meeting held at our offices. You won't know if the real estate listing that you like, happens to be contingent. Meaning if the seller of the home you like needs or wants to buy another home during the same escrow - that would make that sale contingent. It may be that the seller has another home in mind or they are waiting for your offer so they can write theirs. Paris911.com/Crashcourse
The more people that are a part of a real estate transaction, the more difficult things get. It takes a real estate expert to balance that house of cards - one little breeze - the whole thing can come tumbling down... BTW - there are other things that can make a real estate listing contingent - Have a read.. Paris911.com/Contingencies
We talked about finding the best lenders in the Santa Clarita Valley and how we have those resources available for our clients. We have just had word from another real estate agent in one of our networking groups that he had a lender just try to roll a client. "Rolling a Client" is something that used to happen back in the day when properties were going up in value Hand over Fist.
To be Frank, I have not heard of this happening as of late - but here it is. It basically means you as a real estate borrower being promised one rate - being locked in at one rate, having that "one rate" quoted, written and locked - only to get to the part of the real estate transaction - close to the end - and you get rolled by your lender. They have a different, higher rate, on the loan documents that you are there to sign on this special occasion.
Here is why that is bad on many different levels. If you had been renting, you probably have given notice, which makes it very hard for you to back out. You probably have done investigations and paid for appraisal and inspections. You have hung mental curtains throughout this home...
And now you are getting rolled by your lender... This is what I would do. I would stop everything. I would call my agent, if they referred me to a lender they use, I would make that real estate agent start circling the wagons.
If it was a lender that I brought to the table - I would call them, after I had stopped signing the loan documents, and make sure they fixed it, get down there, or I would stop the entire process. A promise is a promise for Pete's Sake.
Now that I just told you what I'd do - That maybe not a good fit for you. Be safe - keep your lender's number and your real estate agent's number (cellular) handy. If you want our help in finding a local Lender that is the BEST fit for your Santa Clarita Valley Mortgage - check out this, Find me a Santa Clarita Lender resource, Paris911.com/FindMeALender