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The True Cost of Choosing the Wrong Lender

The True Cost of Choosing the Wrong Lender

Today I decided to shoot a quick video stressing the importance of choosing the right lender when buying a home in Cookeville or the surrounding area.  Lenders are just like any other occupation in that there are good ones and bad ones.  As an experienced real estate agent in the Cookeville market, it's my job to protect my clients from the things that can go wrong in the process of buying or selling a home.  Sometimes the thing that can go wrong is the lender.

 

As a professional, I can't say on this blog who to avoid. However, you'd better believe I make my clients aware of problems well ahead of time so they can avoid them. It absolutely infuriates me when someone costs my client time or money due to incompetence. There are loads of really great, experienced lenders in Cookeville and the surrounding area to choose from and I'm always happy to provide a list of them for my clients. The process of packing up your home and moving can be stressful enough. The last thing we need is a lender who pulls the rug out from under you at the last minute!

Most sellers know that you should check and see if the person offering to buy your home is pre-qualified. Unfortunately that's just not enough.  Some lenders don't really even know how to pre-qualify and give those letters out freely. This is where an experienced real estate agent protects you.  An experienced agent can warn you ahead of time if the offer is accompanied by a pre-qualification letter from a lender who is notorious for this sort of thing. This gives you the opportunity to tell a buyer you'd love to work something out with them, but you just can't do it if that's the lender they are using.  If they really want to buy your home, they can switch to a lender with a good reputation. This is just one example of the many, many ways a good Realtor can save you time and money!



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