Financing issues can threaten real estate transactions, but they often have viable solutions. It's essential for realtors and clients alike to manage their mindsets proactively. Rather than panicking, identified buyers and sellers should focus on possible resolutions, like alternatives in funding or negotiating terms. Lenders are legally required to explain denial reasons, allowing clients to address specific obstacles. Effective strategies include seeking backup offers, negotiating extensions, and exploring financial alternatives like co-signers or gift funds.
Most deals DO have a solution! If the buyer still wants to buy and the seller wants to sell, get to work to solve the problem.
Legally, a lender must explain why a borrower is denied their loan. Find out the specifics. If the lender won't tell you, they MUST tell the buyer.
Collection
[
|
...
]