Stop Doing Real Estate Over Text! How Extreme Digitization is Costing Homebuyers Thousands
A few days ago I was swapping war stories with a real estate lawyer and wow, the state of 'customer service' out there is kind of shocking. That is, homebuyers are literally texting (and e-signing) their way through a life-altering transaction, completely uninformed.
Seems that in the age of extreme digitization, not many Realtors and Mortgage Brokers want to get on the phone and explain all that paperwork.
That's a travesty. Because it's costing homebuyers thousands of dollars... and worse. When you're spending six figures on a home, you simply must understand the financial and legal implications of what you're signing. And there's a lot that needs to be signed.
From pre-payment privileges to pre-payment penalties and beyond, homebuyers are finding themselves a wee bit shocked when they arrive at the lawyer's office, usually just a few days before closing. By then, it's too late to 'figure it all out' or make changes to the transaction. Hardly the lawyer's fault.
Here's just a smattering of what can go wrong when no one picks up the phone to explain things.