As we look at the shifting market, we have to ask, “What’s the value of a local lender”?
Look at it like this: In the 80’s there was a TV show that’s became iconic – “Cheers” …and the catch line that everyone knew in the intro song was “where everybody knows your name”.
Everybody loves a place like that? Right? There’s an undeniable sense of comfort and familiarity.
Well, if you want to insure your offer has a better chance of getting accepted, a local lender wins the listing agent over when compared to an offer from an out of town lender in much the same way…
The appraiser who will be brought in for a vital element of the approval process — will know their name. The listing agent that receives your offer — knows their name. And there’s a sense of accountability that comes with a local lender, because all parties involved “know where to find them.” Which is particularly important if the transaction hits any snags.
So the next time you consider working with a lender – go local where everybody there knows their name.