Unless all your clients are cash buyers, mortgages are an integral part of any real estate agent’s business. Knowing some basics about mortgages will make you a better adviser to your clients and a more effective businessperson. Although it is by no means necessary to become a mortgage expert, the following three mortgage insights will increase your value as a real estate professional. 1. Condos have special underwriting requirements. If you’re working on a condo deal, it is in your and your client’s best interest to work closely with the mortgage loan officer to make sure the property meets the lender’s underwriting criteria. This is typically done through a condo questionnaire the lender will provide you. Among other things, they will be looking out for things such as pending li…
