“I just went to your San Diego investing seminar and heard you say never to use a lender who’s also an agent. Sadly, I heard this too late. I bought my San Diego home in 2009 and my (ex) agent did my loan. It was a nightmare. It took almost three months to close and my loan had a much higher rate than he originally quoted. It’s not that he was a bad guy, he just didn’t know what he was doing.”
Answer:
Thank you for sharing your experience.
In my 28 years in San Diego real estate, I’ve had dozens of transactions where the buyer’s agent also did the loan. And I can tell you only ONE of them went smoothly and professionally.
All the rest ranged from bumpy, to ugly, to unmitigated disasters.
Typically, either it’s an agent trying to be a lender and not knowing home loans… or it’s a lender trying to be a real estate agent and not knowing real estate… or occasionally it’s someone not knowing real estate OR loans!
San Diego short sale expert Gary Kent has written the book on short sales. Gary would like to offer the San Diego Short Sale Guide to you for free – Short Sale Guide.
To find out how much your San Diego home is worth compared to owe much you owe, go to www.ShortOrStaySanDiego.com
The Gary Kent Team 858-457-5368 of Keller Williams is a California Real Estate Broker, License 00862878. We are not licensed to provide legal or tax advice and we encourage our clients to seek legal and/or tax advice early in the short sale process.
