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zozopetal

Advice

  • (9 Contributions,
  • 0 Best Answers,
  • 1 Helpful)

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Are we getting screwed?

Answer

mack the reason is the commission that is why she is stalling.   On $50,000, the agent makes $500 and gets half $250.   On a house in Madison Park in Seattle the $1,000,000 price tag fetches a $10,000 commission.   This Broker must really be desparate for cash to put the cabash on a $50,000   deal

  (0)
Are we getting screwed?

Answer

I think what is happening is she is waiting for interest rates to back down so she can make more commission in points.   Call her bluff ....tell her you know what is going on with locking rates and waiting for rates to go lower to make more YSP!!!!Tell her you will report her to the association if she doesn;t have loan doc's in 3 days.

  (0)
Can you lock with multiple lenders?

Answer

the key is who gives you the best rate.....pure and simple.   Did you sign paperwork saying you were on the hook for the appraisel with #1.   If you didn't don't worry go with the best rate. What i would do is lock in at 45 days after 20 days if rates drop go to another broke and get 1/2% lower rate.    No brokers make you prepay for apprasial.

  (0)