If you’re looking to purchase a house you need to be all in. That means you need to surrender to the expectations your realtor and lender have laid out for you so you can be successful. If you’re thinking about buying a house here are some things to consider…
Your realtor and your lender are paid on commission so they have a vested in making sure your escrow closes close as their livelihood depends on it. More than likely, these professionals have a process, your agent has a process to show you homes. Your lender has a process by which they set expectations on closing, meeting dates, etc. and together they work in unison as a team.
Contrary to widespread belief your realtor and lender sometimes have things happen beyond their control, the appraiser not getting out to the property in time, a delay on the appraisal, or a change in the valuation of the property. Things can happen. Quality professionals will explain this at the start.
Realities of buying a home:
You will be inconvenienced. When your lender says “Jump” your response should be “How high?” Resisting, questioning, and or refusing to provide conditions in the process (even though you may have already sent them in) not only makes it more stressful for everyone involved but also makes the process take longer, which works in opposition to the greater goal which is helping you get through the process as efficiently as possible. Understanding “why” in some cases only serves to give you an explanation as to why, it will not change the outcome of whatever paperwork is needed.
You need to be available. You cannot buy a house by being unavailable. Being on call much the same way it is for say a doctor who is on call for the weekends. You need to be on call for the next 30 days of the escrow, so if the lender or your agent needs you, you can respond to them in a timely manner.
You cannot buy a home 100% on your terms alone. One of the worst mistakes you can make as a home buyer is to say, “I want the house for XYZ, and I want specifically XYZ interest rate, and you specifically must work on my time and on my schedule.” That is completely nonrealistic and you will effectively remove yourself from the category as a qualified ready, willing, and able buyer. If you do manage to find a realtor and lender willing to work under that expectation your house and escrow will not close or if it does close it will close late or ugly, it will be an unpleasant process for everyone involved. Do yourself and your family a favor, swallow your pride, and take the trusted advice from your real estate professionals whom you’re hired to manage your financing and real estate representation and you’ll be on your way to a successful close of escrow.
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