The closing that didn’t close

Recently had the misfortune of having a closing that didn’t close because the lender did not fund the loan after all the documents had been signed by the buyer. Taylor Bean & Whitacker was the lender and the day of the closing was banned from making any Fha loans not to long after that Taylor Bean ceased operations and closed down their doors leaving my client along with many others high and dry.

The closing was extended several times because of the lender and was a very stressful experience for my buyer who did everything she was suppose to and handle everything in a graceful manner a lot better than I would have. I can’t even imagine her emotions thinking you have a home after signing the documents and the next day finding out the home never funded and the home was not going to be hers.

She was leaving the next day going out of the country so she decided to put everything on hold until she comes back. I hope we are able to get this home for her with another lender because she so deserves it. This is a first for us in Real Estate where we had a closing that didn’t fund I can almost say I have seen it all but I am sure there are a lot wackier things in today’s Real Estate market we have yet to discover.

Is it still a buyers market in Brandon?

Here is the simple answer Yes and No. Yes it is a buyers market being that almost every home listed out there is already a great affordable price and interest rates still low.

No it is not a buyers market if you believe you can ask below 10% of the sellers asking price and believe you are the sellers only option, many homes are now again facing multiple offers, especially the homes that are move in ready and priced right. Homes are selling in the Brandon, Valrico, and Riverview areas. There really is not much inventory out their once you take in consideration the criteria you are looking for.