Avoid Multiple Offer Disappointment

by | Jan 30, 2014 | Market Trends

Avoid Multiple Offer Disappointment

As the market heats up in Portland Real Estate and multiple offers become more prominent, it can get frustrating for buyers if they are not prepared.  Sometimes it takes a little advantage to get the home under contract.  Guild Mortgage’s new program, the Homebuyer Express (HE)  is that advantage.

Homebuyer Express

With HE, Guild provides buyers with specific service level commitments and provides monetary compensation if we do not deliver as promised. There are two primary components to the HBE program: Underwriting Credit Approval Protection and On-Time Closing Protection; both of which apply to FHA, VA, Conventional and High Balance Programs.  Here are the high-points of what this means for you and your clients:

Underwriting Credit Approval Protection:

  • If Guild has issued a preliminary credit approval from our underwriter and then they are unable to close the transaction, they will pay $1,000 for inspections, appraisals or relocation expenses the borrowers incurred in connection with the purchase.
  • They will also reimburse for any lost earnest money deposits up to $5,000.
  • On Time Closing Protection: Guild is confident that they will close the borrower’s loan on or before the purchase contract deadline.  If they fail to meet the closing date due to a Guild delay, they will pay $500 toward the borrower’s closing costs.

Your Unfair Advantage

Not only will the HE provide important peace of mind for you, we’re finding that sellers and listing agents are loving it too!! Imagine if you were presented with two similarly situated offers but only one had the HE Guarantee.  As the listing agent, which would you advise your client to accept?  That’s what I thought… enough said.

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