How Did We Manage to Save This Transaction Disaster?

 
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Recently I sat down with Erika Hagfors and Andy Varcak of Envoy Lending to give you a behind-the-scenes look at one of our success stories. Erika recently represented one of our buyers who was adamant about going with their own out-of-state lender. We’d never heard of this lender, and on a Friday when we were just four days from closing we received an email from this lender saying they wouldn’t be able to finish the loan. When buyers and sellers are all packed and ready to move, this kind of situation is an absolute disaster. The lender offered no solution or explanation, and Erika’s buyer was totally heartbroken. “We were able to create a situation that was more than just a win-win.” Thankfully, that’s where Andy, one of our preferred lender partners, came in. Andy and his processor worked with the borrower over the weekend to come up with a clean package for underwriting. Within one week they emailed the documents to escrow, and the transaction was rescued. Not only did things close on time, Andy also negotiated better terms for the buyer. Thanks to this amazing group of people, things worked out and ended up better than they were before. We were able to create a situation that was more than just a win-win. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

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