This past weekend I worked with buyers who are relocating from Virginia. They got a mortgage pre-approval well in advance of their trip here. However, they ended-up buying a new home from a developer who offered a $3,900 discount if they would use the developer’s lender. Not only was the discount enticing, but the lender’s interest rate was as well.
The only glitch was that my buyers had left their financial documents back in Virginia since they had already provided them to the previous lender. This caused a 2-day delay in starting the process for the actual mortgage since they had to wait until after they flew back Monday evening to fax the new lender their documents.
So if you’re relocating to the Chicago area and a new home is a possibility, bring your financial documents when you come to look at homes. It may move your financing along a little faster.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
