By Ana de la Rua, April 5, 2018
I always tell my customers that one of the keys for a successful transaction is to hire a good team: a good agent, a good title officer and, yes… a good lender. A good lender can make the difference between having your offer accepted or rejected, stress or no stress and, most importantly, between closing or not closing,
An offer accompanied by a pre-approval letter from a reputable lender can make wonders to its appeal. If well advised by their agent, sellers will automatically feel at ease if the buyer’s lender is trustworthy, communicates promptly and proactively and gives assurances to close on time. When sellers are looking at offers, they want to maximize their profits, but most importantly, they wan to have certainty that that offer will end up in a successful closing and a good lender can mean assurance to accomplish that outcome.
For buyers, teaming with a lender that explains the requirements clearly and manages the expectations of the process ahead provides ease and minimizes stress. Of course, it is important that your lender can offer competitive interest rates, but many good lenders will do their best to match other rates and terms. Ultimately, it comes down to closing for buyers too, a lender can offer a very low rate, but will he/she be able to close the transaction? That’s what matters at the end.
Closing on time is critical in a transaction. Parties make arrangements based on the “sacred” closing date, organize moving, complete payoffs, arrange closing on next home purchases with sellers that may need to close on their next purchase, creating a domino chain reaction easy to disrupt if that original closing date is compromised. A good lender, will move heaven and earth to close on time and, if that is not possible, he/she will communicate promptly about the challenges ahead and the estimated new timelines, so parties can react and re-schedule their commitments before it is too late.
Why am I writing this article? Well, I just closed a transaction 3 weeks after the agreed closing date. That created incredible stress and extra expense on everyone involved. Fortunately, the transaction did not fall through because seller and buyers were both committed. However, what could have been an easy and happy transaction, became a nightmare of uncertainty and frustration, all because the lender did not do his homework, did not communicate proactively and was simply unprofessional.
Please work always with a good lender. If you don’t know anyone you trust, ask your agent, she/he will give you advice based on successful past experiences.
I hope this helps!
Ana de la Rua
Broker
Growing up in Barcelona, Spain, Ana de la Rua’s first interest was in fashion.
She started her professional career as a pattern designer working for several local apparel companies. She was also deeply attracted to the distinct architecture of the city, its tumultuous history of urban development, and Barcelona’s characteristic avant-garde art.
When she moved to Portland 22 years ago, she found a friendly welcoming city immerse in rapid change. The Pearl District was starting its transition to urban living, the culinary scene was in its infancy but rapidly becoming a national phenomenon and over the years she discovered exciting neighborhoods full of charm and promise. All in all, Portland became her adoptive city and the one she and her family proudly call home.
Ana’s interest in real estate started while looking for her first home. She enjoyed the discovery process of finding a place to live but also finding herself through that process: the emotional rollercoaster, the jumping of hurdles, the financial implications, the effects in lifestyle. Since then she has moved four times, living in several neighborhoods of Portland and its suburbs, until she found her ideal home in NE Portland, where she now resides. She also co-founded a real estate investment company, implementing her vision on neglected homes, remodeling and making them energy efficient for renters in need of sound places to live.
It was while looking for investment properties on her own that she had the “epiphany” of becoming a real estate broker. It was extremely challenging to find the right property to buy as the market was becoming increasingly competitive but she was able to find her way around and land successful transactions. She also realized that she had what she appreciated in a good broker: loyalty, commitment, perseverance, patience, and a true passion for all things real estate. It is with all this in mind that Ana is hoping to team with you in your next real estate adventure!
A little more about Ana:
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- When not working she enjoys traveling and spending time with her husband, daughter, and Martha (the doggy), going out with her girlfriends, cooking, entertaining friends, reading, making crafts, and finding all sorts of deals.
- She has a major in Finance and a minor in International Economics from PSU as well as an Arts Degree in Industrial Pattern Making and Design from Institut de la Moda de Barcelona.
- Proficient in Spanish and Català (native languages).
- Loves walking and biking around Portland neighborhoods.
- T: 503-289-0863
- F: 503-961-8224
- ana@livingroomre.com
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503-961-8224