Saving the Deal: How to Avoid Financing Fiascoes and Other Real Estate Deal Killers

  • 2h 7m
  • Tracey Rumsey
  • 2008

In a perfect world, real estate agents would work only with prospective home buyers who have preapproved financing, and sellers who are fully aware of their property’s title status. In reality, Realtors can do everything right to get listings, present houses, and make deals . . . only to have them fall through at the last minute. Saving the Deal gives readers proactive tips and valuable advice that will help save them the pain and heartache -- not to mention the cost -- that comes from losing a deal.

Using real-life examples, the book goes beyond the basics to offer real estate professionals practical advice on preventing deal-killing situations involving judgments and liens, mortgage issues, divorce problems, home inspections, contract difficulties, loan approvals, and many others. Readers will find effective strategies for handling each one, with tips on how to see them coming in the first place and heading them off at the pass. This is the one book anyone in real estate needs to read.

About the Author

Tracey Rumsey (Kaysville, UT) is a Mortgage and Real Estate Continuing Education instructor for the Utah Division of Real Estate. She has more than 10 years' experience as a mortgage loan officer, and serves as chair for the Utah Mortgage Lender's Association Education Committee, where she selects and develops curriculum for their education conferences.

In this Book

  • Saving the Deal—How to Avoid Financing Fiascoes and Other Real Estate Deal Killers
  • Introduction
  • Smoothing Out Title Tangles
  • Preparing Realistic Net Sheets
  • Pre-Approval Letters: Reading Between the Lines
  • Dates, Deadlines, and Details
  • Bankruptcy: Clear Up Misconceptions
  • Divorce and Separation
  • Mortgage Approval Income Rules: Timing Is Everything
  • Understanding FHA Loans Helps You Help Clients
  • First-Time Homebuyer Programs: Beginner’s Luck
  • HUD Homes: Guiding Your Bargain Hunters
  • VA Loans: Well Worth Learning the Ins and Outs
  • Flood Zones: Crossing Muddy Waters
  • Risk Underwriting and Mortgage Loans
  • What You Should Know About Homeowners’ Associations
  • Home Inspections: Preventive Measures
  • Appraisals and Sale Prices: Pulling It Together
  • State Housing Agency Information
  • Home Listing Checklist
  • Homebuyer/Offer Checklist
  • Flood Zones Defined