How Can a Mortgage Broker Mend a Buyer’s Broken Heart?

Indeed, you can’t count your chicken before it is hatched despite the lucid life breathing in the embryo lulling comfortably inside the shell. Well, that was the picture I could see until  ONE GLOOMY DAY.

Apparently, the chicken might not reach its full term. 

I could dwell in exasperation and frustration with this transaction nearing consummation for days because of lost of imminent commission and time where I could have put to use in something more productive. But it is a duty call a buyer’s agent has to attend to.

In two occasions, I have likened a lady-in-waiting for the gas and electric company to call me to get the utilities activated for my buyer since the property is HUD-owned and activation is the buyer’s responsibility.

The window for the electric company: between eight in the morning and twelve noon. Not as bad as the gas company who gave me a twelve-hour window: 8AM to 8PM. 

All these aggravations plus the mourning over the GREEN BUCK$ for which I started digging its grave are TRIVIAL.

A week ago, I saw a face of a buyer glowing as he professed the exhilaration about owning his first home in the United States. His eyes sparkled with enthusiasm while narrating the color scheme he picked up for the carpet and walls; the furniture set’s style and its configuration and the conversation he had with his family back in his home town announcing his latest conquest- HOMEOWNERSHIP. It may not be a verdant oasis. But it is the integral part of his dream. The American dream coming into fruition!!!

Last Friday, I could see that same face–sullen; his body– sulking and his heart–shattered.

 The joy that emanated from getting the commitment letter was pounded hard into broken molecules that vanished quickly as it appeared. 

The REASON: EXPIRED GREEN CARD.

At first, I was bewildered. Why was he able to get a pre-approval with an expired Green Card? To answer my question, I asked one of the loan officers I work with in a regular basis if he asks buyers during the prequalification process the question as to the status of his residency in the United States. He told me that it is included in the questionnaire.

Since my buyer chose to work with the loan officer of the bank he has an account with, I could not blame myself for not doing my job in referring him to any of the competent loan officers I deal with in most of my transactions.

Granted that my buyer instituted his own predicament by letting his green card expired, and assuming that it could have been an honest memory lapse and provisional irresponsibility because he has been paying Uncle Sam his dues dutifully, why did the loan officer give him the go signal when at the time of application, his card is already expired?

Don’t you think this dilemma could have been avoided?

How could you appease and recompense a buyer’s crushed emotions? Never mind the money he spent on home inspection, appraisal and the lost of wage for the hours he took away from work to be present during the process, or either the money he has to pay as penalty for the lengthy extension or forfeited deposit.

I have never asked a prospective buyer if he has a valid green card or a citizen of the United States. 

After this incident, I may not be comfortable adding this question in screening the buyers but  I might just do it.

 

 

 

 

 

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About Maria Gilda Racelis

I am a full-time realtor and a no-nonsense individual when it comes to rendering services to my clients. I take my job and the responsibility it entails seriously. My clients come first. I ensure that they know and feel I am working for their best interest. However, I do not carry out tasks to compromise my principle. I conduct my business with pride, honesty and integrity. I will do whatever it takes to meet their goals while adhering to my principle. "And the connection I make with the clients throughout the process, that to me is how I define success." Buying and selling homes can be very stressful. It is my job to make the process easy and fun as can possibly be for my clients. I take personal gratification from the smile on the faces of highly satisfied clients. I have amassed 100% positive and rewarding testimonials from my clients after many years of experience in real estate business. To enhance competency in the field for my clients' benefit, I continually seek to further my knowledge and expertise. With this in mind, I hold the following designations and expect to add more as the need for them arise. If you are looking to work with a competent professional realtor who will put the best foot forward for your best interest, you have just read her profile. I am always available to listen to your concerns and questions. Please do not hesitate to contact me anytime.
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