ADR BLOG

Who's your Realtor? Top 5 Raleigh Realtors right here!

February 9th, 2021 2:42 PM by Andrew Walter May

With interest rates so low (How low are they? See our posts on social media), it's hard to get your hands around purchasing a home. There's a lot to it (ADRMortgage.com blog shows down payment options and how not to get burned).

Your Realtor is supposed to be your friend. Often times it's simply a contract to them. We had one buyer recently get stuffed into a one week contract. I hate to see that. After a week this client's due diligence and earnest money was to go "hard" (be at risk; after losing your DD and EM a few times, it can hurt).

This person was a first time home buyer and didn't really understand the risks (let alone what due diligence and earnest money are). That's why consumers need to expand beyond the Realtor for advice. Our referred Realtors do not simply toss you over to the in-house "loan officer" (not usually, if ever, licensed).

So what happened next? Well, we immediately had our client cancel the purchase and sales contract and extended the DD and EM periods out to normal. We were able to also get the seller to lower the DD and EM amount (originally 10% of the purchase price! OUCH!) at risk.

As expected, when the appraisal came back substantially light (lower), the client had a decision to make. Negotiate or walk. When this happens usually the seller forces the buyer to lose the difference between the inflated purchase price and the actual appraised value (read: keeps your money and sells to another). In this case we saved the consumer about 5% of the purchase price. The seller and buyer agreed to do this because all of the buyers money wasn't at risk. The buyer could still get their earnest money back and that was a huge savings.

How can you avoid this situation? First, work with honest Realtors. We have been working with Realtors for 15+ years in the Triangle and my top five are:

  1. Irene Higginson - 919 389 7778
  2. Scott Hoyt - 919 208 8368
  3. George Roa - 919 904 6595
  4. Jennifer Belward - 203 216 3990
  5. Robert Terry 919 810 3912

All five avoid the in-house loan officer like an unlicensed plague. All five find the best products and services for you, so you don't get stuck in a terrible situation. And I've proudly referred them to many clients.

When looking for a Realtor select one of these five and tell them Andy May sent you. They will honor your business and help you for many years to come.

ADR offers substantial savings to all Purchase and Refinance Clients. Call Andy May for a rate quote and see how much you will save with our special finance rates. It only takes 5 minutes to fill out a loan application at www.adrmortgage.com.

919 771 3379
This is not an offer. Relevant disclosures and licensing found at:
www.adrmortgage.com
Posted by Andrew Walter May on February 9th, 2021 2:42 PM

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