Should I use my agent or a 3rd party to negotiate my short sale?
If you are a regular watcher of my Youtube station or this blog you must be sick of hearing me talk about lenders and how you should consider asking your agent for advice, but once again we have another story of a lender who was able to lure someone in and not deliver.
This buyer was working with one of the three preferred lenders I had recommend they talk to and at the last minute they decided to switch to a big box lender because the lender they were working with could only do 5.15% and the big box lender was promising 4.875%. My lender was skeptical, but said that is a great rate good luck.
The buyer switched lenders and the new lender “promised” us they would have it done by a certain date. Of course we get to that certain date and the deal is still being held up in underwriting. I will have to admit one thing, they were able to get the deal done only 6 days later, which was a good week or two sooner than I thought they would get it done, but still late.
The real surprise came for the buyer in the form of the interest rate. Of course the rate had mysteriously jumped in from 4.875% to 5.25%, higher than the lender I had recommend would have locked them in for.
Now I know rates switch often, but this was a big jump and smelled a little funny to me. Can you imagine what I would have done if the person I recommended would have done this? I would never recommend them again, which is why most of the time it makes sense to talk the lenders your agent recommends.
Your agent should not recommend one lender, they should have a list of a few so you can shop and interview, but in the end those lenders are often going to take better care of you and your needs as a buyer.
Who says you can't teach a rocket scientist new tricks. Since Kristin left her former profession for her new one she has built one of the fastest growing businesses in the East Valley. Kristin is known for her Youtube videos, make sure you check them out. 
After a long career in political consulting Dean transitioned to real estate and has not looked back. Dean is one of the sick ones who enjoys fighting with banks to get short sales approved and to help homeowners avoid foreclosure. Dean also loves making videos on the subject.
, got to yahoo to your blog and it appeard funny but after refresh all displayed normal. Just thought id let you know and keep up the good work
been reading your site for three days. really enjoy what you posted. btw i am conducting a research about this issue. do you happen to know any good websites or forums in which I can get more? thanks a ton.