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The Seller Says "The Buyer is NOT using the Bank of the Internet"

 As listing agents, a part of every MLS listing says:

    "Offers will be accompanied by a pre-approval

     letter from a locally recognized lendeOffer to purchaser."

 It is a pretty simple requirement...

and is designed to protect BOTH the Seller and the Buyer.  Using a reliable local lender with a good reputation for both giving accurate pre approval letters and closing in a timely manner,  assures both parties that there is a "happily ever after" in sight per the dates written on thoue contract. 

internet bank   Occasionally, we have a buyer write an offer who chooses to loosely translate "locally recognized" to mean any lender advertising on the internet.  The promises from these invisible Cyberspace institutions are many...some claim to offer "unique loans unavailable anywhere else."  Hmmm...a closer look not only at the loan but more importantly, a look at the actual costs to the Buyer for the loan may well,...and in our experience...HAS revealed quite another story.  The loan is not only "not unique" the fees charged skyrocket high above wtruth in lendinghat any local lender charges.  An attempt to dupe the consumer....how can this attempt be stopped ?

     In Wisconsin....our counsel has advised...the choice of a lender is a negotiable part of the offer to purchase contract. As such...the Seller may object to and in fact refuse to have "The Bank of Cyberspace" with no closing record, outlandish fees and questionable claims participate in the transaction.

    As a result of our watchful eye we have no problems with buyers who claim and lenders who support pre-approvals for which they are not qualified....and what can best be described as imaginary loans that do not close.

    If you or anyone you know, is Selling or Buying a home in southeastern Wisconsin and seeks the counsel of Realtors with eyes and minds toward a smooth closing with a reputable lender, Call the Hansons...we have a practice based upon education and fostered with successful experience. It is our honor to be...at your service for all things real estate.

 

 

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS

Sally K. & David L. Hanson  

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