Loans By Kathy: The Perfect Home Purchase Transaction

The Perfect Home Purchase Transaction

Yes, the perfect home purchase transaction does exist.  In fact, the last contract I received has been exactly that.  It should be understood that it takes teamwork to make this happen.  Real estate agents that respond to request for documentation or signatures. This also includes the attorney office, the insurance agent.


The buyer had made an offer on a short sale home in January.  We had waited for 5 months for the lender approval, which was continually promised, but never delivered.  The buyer asked me for my advice.  It was simple, terminate the contract and find a home that can be readily sold.  Two weeks later, they were under contract on an REO property.

I had received the fully executed contract within 48 hours!  The buyer had collected every piece of supporting documentation I had requested and sent it to me with the completed mortgage application.  Georgia is an attorney state, and we had a great team player.  I had the title work back within a week.  In fact, it arrived the same day as the appraisal.

Now with the checklist complete, the package was sent to the underwriter for approval.  48 hours, loan approved, subject to a couple of corrections on the appraisal and title work and we are clear to close!!!!

There is now a very happy, first time home buyer enjoying their new home.



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Kathy Sheehan Senior Loan Officer






Bay Equity LLC

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11475 Great Oaks Way, Suite 350, Alpharetta, GA 30002

800.BAY.3703 Bay Equity LLC NMLS ID#76988



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The opinions and general information in this blog are soley those of Kathy Sheehan.  Specifics regarding an individual case should be discussed in detail with a loan professional.  For a confidential consultation, please feel free to contact me via phone or email.  All terms and conditions are subject to change.


Comment balloon 0 commentsKathy Sheehan • July 09 2011 12:58PM