Tag Archives: buying
Question: What’s the difference between a real estate client and a real estate customer?
Answer: Quite a bit.
I was with a a customer a few weeks ago and and we had an interesting conversation about the differences between a customer and a client.
Some basic definitions … from the Code of Virginia:
But … apparently lenders wont’ have to run a second full credit check before closing on a mortgage : Despite earlier reports to the contrary, it turns out that your mortgage lender will not have to pull a second full credit report on you hours before closing on your home purchase or refinancing. In a clarification of a policy announced earlier this year, mortgage giant Fannie Mae now says that applicants will need to come clean about any debts they have incurred since they submitted their mortgage application — or debts they never disclosed on the application. But a formal pre-closing credit report will not be mandatory to confirm creditworthiness. The chances of everyone in the lending pipeline (underwriters) actually getting this memo: slim to none. Continue reading →