ANOTHER ESCROW CLOSED!!! 🎊🎉🎈🍾 Congratulations to my investor on this property in La Puente with a lot of potentials! We can’t wait to see what it’ll look like after developments.
The transaction went smoothly until the day before loan docs signing. I still remember that morning, the loan coordinator called me and told me that lender withdrawn the loan docs and signing was canceled due to a huge impact on buyer's credit. The FICO dropped by almost 150. Then, we found out that the buyer had a pending dispute of a huge amount with the credit card company. Default on payments caused the issue. That almost killed the entire deal. I felt my brain frozen for minutes after ending up the call, but then I told myself, instead of getting shocked, the thing I should really do is coming up with different approaches and finding a way to resolve the issue. So, the very next morning, I brought my buyer to the bank, had her pay off all the credit cards, then requested a letter from the bank to show the proof of the payoff. Then we contacted the three Credit Bureaus, explained the situation to their service team and also got a higher-level approval from their supervisors. After a good six hours on the phone, we were able to fax all required documents to them and requested an expedited update on the credit. Then after four days of waiting, we got a GREEN LIGHT from the lender.
I will never oversee so many unknown variables to count for with this transaction. Nonetheless, we close our deals because we are on top of everything and proactive with issues arise.
Thinking of buying or selling or investing? Pm or Call me with questions. 626-560-1388 . I will treat your home selling or buying the same as selling or buying my own home!!! #bidding #justsold #forsale #openescrow #justlisted #LaPuente #Bassett #AvocadoHeights #residential #home #sold #escrowclosed #southerncalifornia #realtor #realestate #soldbychen #buying #firsttimehomebuyers #forsale #homesearch #losangeles #InlandEmpire #selling #zillow #loopnet #socalrealtor #home #rehrealestate #ChenZhouRealty #CreditRepair #FICO #Credit