As I write this article, clients of mine are anxiously waiting to get the final approval from their mortgage lender. Every request is fulfilled, every inspection complete, every document filled out, every disclosure and contract signed. For many real estate buyers, this period of time between final approval and the closing is a pressure-packed boiler of emotion and tension – especially for first-time buyers. The job of their agent (me) is to keep them informed and focused on the big picture that is moving into their new home.
In some cases, the real estate closing happens after the contract date because of delays in loan processing. These delays increase the buyer's stress level tremendously. Some delays are unavoidable, some arise because of last minute requests from parties outside the circle of agent, buyer, seller, loan officer, lawyers. Banks often have backlogs, layers of review, and layers of management who must sign off on mortgage loans, often in the last days (or hours) before the sale.
Selling and buying is a partnership effort between, maybe a dozen people, who all have roles in the process. Keeping these moving parts together and keeping everyone informed, calm, and making short-term, alternate plans and decisions, is a crucial role of a dedicated and caring real estate professional. From a distance, this profession may look easy, but, that’s rarely the case.
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