Last year we were much more successful in closing deals involving mortgages than we’ve been in the past– the banks have let up a little on their strict 2010 policies! Loans are being approved again, appraisals are coming in and banks are loosening up. However, it’s important for buyers to know what guidelines your bank follows ahead of time to make sure you meet their criteria, because all banks don’t work for all buyers. We recently had a VERY qualified buyer who didn’t “fit in the box” of a particular bank they chose because of the bank’s strict guidelines. Late in the process we discovered they were declined! Knowing their situation, a local bank got involved that had different guidelines perfectly suited for these buyers. The deal was put together in a matter of days and they now own the house! BUYERS: Do your homework and feel free to call me for financing advice!
Interested in real estate in Miami? My areas of specialty are Coral Gables, Coconut Grove, Pinecrest, Ponce-Davis, South Miami and waterfront properties. Feel free to call or email me today. Let me and my team help you in your search!