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All I Ask
OK, if we're going to keep dealing with foreclosure after foreclosure, I'm going to need some cooperation frm the lenders. I'm not asking for the moon, just a little professionalism.
So, from now on, if you as a lender want me to show your foreclosure properties to my buyers, I want, in writing some idea of a timeline. I'm tired of looking like an idiot in front of my clients when i can't so much as tell them when we're likely to get a response to an offer. It doesn't reflect well on my professionalism and, Mr. Lender, it doesn't do much for you either!
So, I want a timeline starting with the day I submit an offer to you. How long until I have a first response. (And, by the way, why is your initial response always verbal and my client's response must be in writing?)
How long should I expect to wait for a response to my counter offer? Once we have verbal agreement, how long will I wait before I have your addendum (saying that nothing we submitted to you in writing means anything?!) Once we submit all your required paperwork, how long until we get an executed document back and can actually figure out a settlement date?
I don't think this is too much to ask. Every lender has pages and pages of procedures. Surely one more little piece of paper with a time frame wouldn't be too much to ask. So that's what I want. You do want to sell all those foreclosures, right?!
And, isn't it interesting, Mr. Lender, that your representatives are contacting me constantly wanting me to steer my clients to using you for their next home mortgage. What do you think the odds are that I'll ever recommend you if all my dealings with you on foreclosures are miserable? Just asking!
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