“There must be Something in the Water”

   “There must be Something in the Water”

 

 

I got a purchase agreement from a real estate agent that I didn’t know, the contract is written up as a 203K. I did an approval for the client as a straight FHA loan as she wanted a home that needed no work, so there is something totally wrong with this picture.

The sad part about situations like this is that the client gets very poor representation and it creates anxiety that is just not needed.

After getting the purchase agreement, I sent an email asking how much work was needed on this home and do we have a bid for the renovations, as I will need these numbers to include with the mortgage application. This is what I got back:

 

No, this is a new house. Doesn't the bank usually send a contractor?

 

Am I really supposed to make any sense out of this agent’s email?

I spoke to the buyer who told me this is NOT a new home and some repairs are needed. She is in the process of getting a bid for the renovations. I did get a follow up email from the agent:

 

Not sure what you are talking about, she will be doing the minimum necessary to qualify for the loan, then if she feels comfortable with the payment will add to it.

 

You just can’t make this stuff up.

 

Image courtesy of Pakorn/freedigitalphotos.net

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 23 commentsJoe Petrowsky • April 12 2016 01:01PM
“There must be Something in the Water”
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