By Living Room Realty, October 16, 2019
Pivoting Successfully When Things Don’t Go As Planned + Why Local Relationships Matter
The process of working through the transaction on this newly constructed home with a cute 1br ADU in North Portland was going pretty swimmingly until it was time for the lender to facilitate getting the appraisal done for the buyer’s mortgage. The market in Portland proper has stayed pretty hot into Octob
er this year and appraisers were becoming incredibly backed up.
Working hard for my buyer to put the pressure on their chosen lender to rush the appraisal and keep the timing commitments to close per the contract was very important and increasingly difficult.
It became clear about 2 weeks prior to the origional closing date that the lender realized they could not meet the closing dates. The wholesale lender out of Southern California then went silent on all of us trying to keep the transaction from falling apart, here in Portland. It was a shock to us, including my buyer client, that had worked with them many times before.
This is when I turned to Steph Noble, one of the very best Mortgage Consultants in Portland, to see if they could back up the buyer’s file, get him approved financing and get the deal closed close to on-time. I don’t recommend changing the lender during a transaction and is a condition that has to be approved by the Seller. However, in this instance, Steph and her team came in 2 weeks late to the transaction and were still able to get the buyer’s financing in place with only a 6-day extension to the closing date. If you want to know how she did it, give her a ring! I can’t give away her secret sauce but, what I can say though, is that local relationships matter so much in making real estate work. I always recommend local lenders for the best service.
I’m so thankful to be IN GOOD COMPANY with the best- thanks Steph + team! We, literally, could not have done this without you.
