Press Release
Weichert "Buyer Verification" Gives Sellers Peace-of-Mind
10/12/2007
MORRIS PLAINS, N.J. – Having a home sale fall through is very disappointing. The letdown is even greater if it happens right before the closing, especially if you’ve already purchased another home.
To avoid such setbacks, an affiliate of Weichert, Realtors®, Weichert Financial Services, makes available to all home sellers a “buyer verification,” aimed at eliminating a primary cause of failed transactions: problems with financing.
Under this courtesy service, Weichert sellers may request that any buyers making an offer on their property obtain a mortgage credit approval from Weichert Financial Services. This offer applies even if the prospective buyer has a pre-approval from another mortgage lender and is working with a real estate company other than Weichert. There is no charge to either the seller or the buyer, and this service is not conditioned on either party buying a product or a service from Weichert.
Why is it advantageous – for both parties – to have Weichert Financial Services verify a buyer who already is pre-approved or intends to use a different lender?
Stephen Adamo, president of Weichert Financial Services, said, “Experience has shown us that faulty pre-approvals and unexpected complications all too often put a home sale in jeopardy. By doing our own verification, not only can Weichert sellers and their buyers enjoy greater peace-of-mind, but should any problem arise, we can readily step in.”
In one recent home sale cited by Adamo, a buyer with no down payment had been approved by a leading national lender for two loans: a first loan to cover 80 percent of the purchase price and a second mortgage loan for 20 percent. Two days before the closing, the lender suddenly withdrew the 20-percent loan. The distraught buyer turned to Weichert Financial Services, which was able to structure a 30-year, fixed rate, 100-percent financing loan that allowed the sale to close four days later.
In another instance, buyers originally pre-approved through Weichert Financial Services chose another major lender based upon the promise of a lower interest rate. When the buyers arrived at the closing, they were shocked to find that their mortgage funding hadn’t come through. Again, to the buyer’s relief, because the buyers were pre-approved by Weichert Financial Services, it was able to act quickly and successfully closed the loan in less than 10 days.
Weichert Financial Services is committed to working hand in hand with sales associates and consumers to make home buying and selling as smooth and glitch-free as possible. The company routinely surveys its customers and takes pride in a consistently high level of customer satisfaction. Weichert Financial Services provides face-to-face personal service and values its reputation for consistently going the extra mile to help home buyers and sellers get to closing/settlement.
Quick and easy loan decisions are the norm. Buyers can apply by phone or in person and typically can expect a decision within 24 hours or less. A product line of more than 300 mortgage solutions helps ensure that every qualified borrower secures just the right financing.
Weichert Financial Services is one of the “Top 50” lenders in the U.S., according to the industry newsletter “Inside Mortgage Finance,” based upon sales to Fannie Mae and Freddie Mac in the second quarter of 2007. In an August 2007 study accessing the credit standards of the nation’s lenders, SMR Research Corp. ranked Weichert Financial Services among the least risky and most reliable. The quality of its products is in the top five percent, according to Radian, a leading mortgage insurance lender.
Weichert has nearly 18,500 sales associates in over 500 company-owned and franchised sales offices in key markets throughout the U.S. A family of full-service real estate and financial services companies, Weichert helps customers buy and sell both residential and commercial real estate, and streamlines the delivery of mortgages and home and title insurance. For more information, call Weichert's customer service center at 1-800-USA-SOLD or visit Weichert's Web site, www.weichert.com. Each Weichert franchised office is independently owned and operated.
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