LISTING, LENDING, BUYING AND TAPPING
After sharing my story about co-ops last week, I received an email from a real estate agent I’d never worked with before. She had an upcoming listing in a co-op building with deferred maintenance and asked if my co-op lender could handle the loan. I reached out to the lender to see if they’d worked with this building before and requested a deferred maintenance report from the agent.
Shortly after, I received another inquiry from a different listing agent. This time, it was about a condo with technical issues that had been resolved, but the work hadn’t started yet. I sent the condo information to seven lenders, and only one agreed to lend on the project.
The takeaway is simple: if you’re listing or buying a condo or co-op, send me the details ahead of time to explore financing options.
Check out this link for the video where I talk about the above topics and touch upon the art of tapping. You may also want to learn how to attract more clients using Client Magnet Tapping Technique by Brad Yates.
Care and Share!
Manny Kagan,
President,
Pacific Bay Financial Corporation
Your professional mortgage broker since 1983
NMLS #205637
DRE #00874630