Every lender and their dog is now claiming they can close in 15 days, when they probably…can’t. How do we know? B/c we close in 15 calendar days all the time, and we know how hard it is.
I even caught my own dog Kevin bragging that he could close in 15 days, and our conversation went like this:
Kevin: “woof, woof, woof, woof”
Me: “What is it Kevin, did Timmy fall in the well?”
Kevin: “woof, woof, woof”
Me: “Ohhh… you can close in 15 days?”
Kevin: “woof”
Me: “Bad dog! I know you can’t close in 15 days b/c you don’t have a 15 Day Close Resumé! Bad dog!”
Here’s my point – when lenders (and dogs) claim they can close in 15 days: (1) make sure it is calendar days and not business days; (2) makes sure it is from the date the contract is ratified; and (3) make sure they can provide a resumé to prove they can actually perform.
We have a long 15 Day Close Resumé here. It includes actual addresses and names of agents we worked with, so other agents can call and verify that we can perform.
Lenders claim they can close quickly but then blame “one off” issues that prevented them from closing on time. But experienced lenders know how to prevent, avoid and work with the “one off” issues.
Ask for a resumé, please.
Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 310167
