Weichert Realtors 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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