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A "weak" deal became a STRONG deal as it settled today !

We had a settlement today for a deal that the seller did not want to accept, not due to the price, but because of a lower down payment, sellers assist and lower escrow amount.

I had to STRONGLY RECOMMEND that the deal be accepted to both the seller and the seller's attorney and even sign a document stating that it was my recommendation.

It was for a condo with a 97 percent LTV and a sellers assist of 5 percent. 

After doing our due diligence on the deal, it seemed like the best deal for the time and sure enough, today it settled !  Not every deal is 10 to 20 percent down with a large escrow anymore.   If a listing agent really goes through the due diligence via analysis of the documents, speaking to the buyer's mortgage professional to go over the ever-changing guidelines, we can all provide better service to our clients !

 

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Comment balloon 3 commentsThe Somers Team • July 08 2008 08:27PM
A "weak" deal became a STRONG deal as it settled today
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