Michael Elliott, Burlington, New Jersey Residential Sales (Fathom Realty)

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Matthew Sturkie, CRS, GRI 909-969-3805
Action Realty - Apple Valley, CA
CRS, GRI 909-969-3805

Yes, but not always. If I already know the lender and their reputation, then maybe a call is not necessary. 

May 11, 2024 07:59 AM
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
NC Real Estate Transition & Relocation 919-602-848

Sometimes. It depends on the lender and if it is a pre-qual vs. a pre-approval. It may also depend on how much they're putting down.

I know many local lenders and there are those who are excellent in their field. There are some I don't know or don't have confidence in so yes, I would call. 

I also have lenders who will call the listing agent for me when I'm representing the buyer to insure them that my clients are solid. 

May 11, 2024 08:20 AM
Big Block Realty 858.232.8722 - La Jolla, CA
Serving Coastal San Diego, Veteran's & Seniors

YES! In two phases.

Phase 1: You will cross qualify your borrower with Jason E. Gordon if you wish to have your offer countered or accepted.
Phase 2: I chat with the lender on the offer we're about to select.

May 11, 2024 07:45 AM
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

OH YES! I wanna talk to that loan officer especially if I don't know them! 

And if I get any hedging, arrogance or BS . . . their offer may end up 'redneck counter offer'!!!

Story: Long ago I wanted to talk to the (local, a-hole) loan guy about the qualifications of the borrower whose offer had ZERO EM and the agent said they didn't have the money SO HOW CAN THEY BUY A HOUSE? 

The loan guy kept dodging my calls. Finally I get this clown and he says I DON'T HAVE TO TALK TO YOU!
I'm like have you read the CONTRACT? O YES YOU DO! So I need to know what's the chance these people can close? 
He said "50-50" 

He gave us a PQ on a buyer with 50% chance they could close?

GOODBYE GOODBYE GOODBYE and when an offer comes in with that guy on it (PS he also had a RE license) it is an automatic hard pass! 

May 11, 2024 07:48 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services


Not only yes, but ...

Oh. Hell. YES Michael Elliott 

May 11, 2024 07:28 AM
Andrea Bedard
Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD
Fluent in Real Estate & German, M.A. ABR ASP CIPS

I always call the LOs on all offers that are submitted. It's important information my sellers need to know before selecting an offer. If an LO is unresponsive and their preapproval is a lot of fluff without substance or is with a bank with its departments scattered all over the country and in different time zones that is an indication of how the contract might go. The ones that call me before I have the chance to reach out to them get a green flag on my offer comparison chart. And so do the ones that have an appraisal panel vs. sending it to an AMC for the lowest bid. 

May 11, 2024 09:03 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
The best agent in Southern Utah!

Yes, especially if the buyer wants to use a gold nugget for a down payment! 

May 11, 2024 08:59 AM
Katina Hargrove 352-551-0308
Stake Your Land Realty, Inc. - Eustis, FL
Broker/Owner, SFR®, e-PRO®, GRI, AHWD, REALTOR®

Michael Elliott 

Simply "YES" Need to know from the lender that the buyer is REALLY pre-approved and the lender is legit.

May 11, 2024 10:12 AM
Eileen Burns 954.483.3912
Trans State Commercial Realty Inc. - Fort Lauderdale, FL
FLorida Real Estate Connector

Yes absolutely.  Checking the date of the pre approval and status of buyer's submission and where they are in the desk top approval status.

May 11, 2024 10:12 AM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

with rare exceptions I do a few times through the process.  There are a couple of loan officers that just email me without having to call them and I know what's coming is personal, not canned, and accurate.

May 11, 2024 08:27 AM
Jeff Pearl
Samson Properties / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Yes. But many loan officers these days call me before I call them and verify how solid the buyer is.

May 11, 2024 09:58 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

It depends on whether I know the lender or not. Also depends on whether I know the buyer's agent and how he/she works. It depends on the actual pre-approval letter I receive and how it's worded.

May 12, 2024 06:44 AM
J.R. Schloemer
Kentucky Select Properties - Louisville, KY

Yes I will call to feel out the buyer, as well as the lending institution/LO. Good buyers often times go to bad lending institutions and that is just as bad as a bad buyer, from my experience.

May 11, 2024 08:49 PM
Jason E. Gordon
CMG Mortgage, San Diego, CA - Coronado, CA

As a Lender who has performed tons of cross-quals (many at the request of  Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets), I would absolutely require them if I were the Listing Agent. I would build the value of that “extra important step” into my Listing Presentation too

May 11, 2024 10:59 AM
Ryan Huggins - Thousand Oaks, CA - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Yes.  No red flags, check the quality of the review (full doc or just the highlights), has underwriting looked at it yet, etc.  Lenders do things differently and sometimes I'll even have my lender contact their lender to ask the questions if something seems off.

May 11, 2024 10:30 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Yes, definitely. 

May 11, 2024 10:15 AM
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

I have never had a listing, I'm a buyer's agent.  So I haven't had the need.  However our contract does give lenders the right to discuss with listing agents and I make my buyers aware of this fact and tell them to expect it and point it out when signing the offer.

May 11, 2024 08:41 AM
Alan May
Jameson Sotheby's International Realty - Evanston, IL
Hot enough for ya?

It's nice to have goals.  :-)

May 11, 2024 07:56 AM
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

No I did not. If I had a concern I dealt with the cooperating agent as my contact. 

May 12, 2024 05:44 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Absolutely I do, and want to know if they are fully credit approved, or just had a conversation.   Lately in our market, if a buyer writes on a property, their lender calls us.

May 12, 2024 04:48 AM
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

It depends upon the lender, the agent and what they're asking for...  Of late, some grants and gift monies have sneaked their way in making the need for a call more necessary so that we know these things up front.  

May 13, 2024 04:29 AM
Roy Kelley
Retired - Gaithersburg, MD

That is a good practice.

May 12, 2024 11:43 AM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

No we get Pre-Approval Letters. I check with the Buyer Agent routinely two times . 1. Deadline for Applying for Loan 2. A Day or 2 before their Mortgage Commitment .

May 12, 2024 11:19 AM
John Juarez
The Medford Real Estate Team - Fremont, CA

Transaction currently in progress is with a buyer who changed lenders fairly early in the escrow period. No problem! Offer is non-contingent with a large earnest money deposit made. Why would I call the lender?

And...I usually do not.

May 12, 2024 09:50 AM
Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

Looks like I am going to fall significantly short of my goal of 67.

May 12, 2024 08:04 AM
Peter Mohylsky, Beach Broker
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

No is my answer and I am surprised by the number of opposite answers.

May 12, 2024 06:06 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

When I list, nothing left to chance. I even have insisted talking to the underwriter & when they complain, I remind them that unless I get some assurance on what to expect, I will cancel contract to protect my client

May 11, 2024 11:54 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Most lenders call me to make sure I know how great their buyers are! LOL! If I don't hear from them you bet I call!

May 13, 2024 05:53 PM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Being I always required proof from buyers agents of loan eligibility I never called a bank to question another agents due diligence Michael Elliott . NOW if I were representing Buyer and Seller then I would.

May 13, 2024 12:21 PM
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Call me any time for more details, crossing fingers for your 67 comments, lol

May 13, 2024 06:44 AM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

It is wise to do this.

May 12, 2024 12:20 AM
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Yes, checking out the reliability of the lender is just as important as knowing the qualifications of the buyer.

May 14, 2024 07:58 AM
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse Advisor

Yes- though largely with a different focus from most of the responses. I often want to speak with the loan officer to ensure they truly understand the building early in the process- as this is more often a problem than the buyer's personal situation. Most of our loans are portfolio lending- and sometimes buyers are using bankers/underwriters that I question whether they truly understand the building (despite whatever building databases they might have).  Many of our buildings are just poor fits with agency lending. We also ask buyers to include a REBNY Financial Statement- which gives us a lot of info that agents in other markets don't typically have. Depending where the buyer is in the process- they also have to complete a board package- which provides the agents and board with all of the financial info provided to the bank- and sometimes quite a bit more. Some buildings even ask for a commitment letter to be included in the board package. I don't get a credit report in the board package (only the authorization for the board to order one)- so most of the process in many cases is a bit more transparent than you have in other markets. 

May 16, 2024 09:10 PM