Another Reason to Use a Local (to the Subject Property) Lender

By
Real Estate Agent with High Country Realty - Prescott - AZ DRE #SA554748000
http://actvra.in/sbQ

I am in a transaction now wherein the subject property is in an incorporated area, but is rural by every other standard. The home is on over 6 acres, is on a well and a septic system.

The buyer, whom I represent went to a lender in California for a loan on the subject property which is in Dewey-Humboldt, Arizona.  The subject property is a short sale and has been challenging.

It took around four months to get our offer accepted by the lenders holding the first and second mortgages. Negotiating with them has been time-consuming and tedious.

We have asked for around three extensions to the close of escrow. Of course, each time there is an addendum to extend we need to gather around six or seven signatures while many of the parties are out of town and travelling.

The Buyer's lender WF in California is now asking for a "Condition of Property - Transfer Disclosure Statement" which we do not use in Arizona.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the foot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
ActiveRain Community
Groups:
Active Rain Newbies
Diary of a Realtor
Moving to Arizona
The Lounge at Active Rain
Tags:
local lender

Comments 0 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the cloud to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tshirt to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
330,259

John Mosier

Prescott's Patriot REALTOR & Land Man 928 533-8142
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the graph to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information

Yavapai County Courthouse in Prescott
get_my_homes_value.jpg
Prescotts Whiskey Row Prescotts Thumb Butte in Clouds Prescott Granite Mountain Prescott's Watson Lake Prescotts Watson Lake from Peavine Trail Prescott Mountains Antelope near Prescott Yavapai County get_my_home's_value