Monday May 14, 2018 by The Mettle Group
It’s no secret that there is a massive shortage of housing across the country. As a partner, we think it’s our responsibility to help you get your offer accepted in a really competitive real estate market. We work very closely with your real estate agent to make sure that we craft the most competitive offer humanly possible. The question we ask ourself is, if we put ourselves in the seller’s shoes, what could we do to make them feel the most comfortable to accept your offer and to make your offer stand out amongst the others, because we know, in many cases, there’s going to be a multiple offer situation.
To that end, we came up with the 17 day close guarantee. What this program does is it enables us to guarantee to the seller that we’re going to close the loan within 17 days, those are calendar days, not business days by the way, and if we miss that date for any reason, we agree, as a company, to pay the seller of the property $250 a day. Hey, that’s a lender really putting their money where their mouth is.
We’ve had some great results with this. In the last 30 days we just had two clients go from contract, writing a contract, to clear to close, docs to the title company and money, within four and five business days. I know that’s absolutely astounding. How in the world do you do that? Well, we have great relationships with local appraisers that have time deadlines and commitments to us. We gather the client’s documentation upfront. We do a bunch of pre-underwriting upfront. Once that offer’s accepted, we can literally close, in many instances, as fast as a cash offer.
We’re here and would love to hear from you. We’d love to answer your questions and we’d love to guide and counsel you on how to make sure that your next offer is accepted.
*$250 per day up, up to $2500 towards late closing credits guaranteed to sellers, if Fairway Independent Mortgage Corporation Branch 436 doesn’t close as promised/scheduled. Guarantee starts with the completion of the application with Fairway Independent Mortgage Corporation and is only valid under the following conditions: the borrower must submit all documentation within 24 hours from the time it was requested; the applicant cannot change the loan product(s) and/or terms from those which were originally applied for; the borrower is not applying for VA, Bond, or Brokered Loan; the closing does not occur on the contract closing date due to delays attributable to third parties such as a lack of certificate of occupancy, unresolved title issues, etc., or if the seller or purchaser extends the closing date; the closing does not occur on the contract closing date due to events outside the control of Fairway Independent Mortgage Corporation, including inclement weather, natural disaster, or other catastrophic event. Promotion expires September 30, 2018.
Conditions: Conditions that may apply to the 17-day closing guarantee include, client must be fully credit and income pre-approved, no changes can be made to the Real Estate Purchase Contract after submission of conditions for clear to close, seller must cooperate with scheduling the appraisal inspection without any delays and the appraisal is at value and not subject to repairs, there must be an acceptable preliminary title report, the property must not have extensive insurance claims causing difficulty finding an insurance provider, the offer is not valid on condominiums, rural housing, or unique property types, and the agreement is only valid on conventional, high- balance conventional and FHA transactions.