Don't do what I did - prequalification

[Daria B.]

In all the flury of trying to get this property I neglected to secure my pre-qual letter. Something so simple and I kept putting it off because I "knew" all I had to do was call my lender and poof she would send it off in the next minute. Wrong!!! Life changes around us - haha.....

The person I deal with left the bank she was at and took a managers position at another bank. Great for her bad for me because just a few weeks ago when I spoke with her I told her I was looking for property again. That's when I should have asked for the letter. I call her from time to time just to keep up with rates and to say hello.

So now I can't find where she has gone and if she's even still in the lending business.

I immediately called another lender as a referral from the realtor I am working with on this deal but guess what, I'm new and have to fill out all the paperwork because they don't know me. It was expected, somewhat. Half way through gathering all the financials as they required, it's now reaching the end of day. I emailed the lender back and said I wouldn't be able to get her everything in time for her to get the letter out to me. Again, bad me.... :(

Meantime, my realtor is waiting for the pre-qual so we can do this contract......

Hind sight I should have talked to my realtor I used for past deals to get that lenders new contact. It's already COB but I did get the lenders new contact info and she and I caught up with one another. I explained what I needed and she is getting my letter tomorrow. She's got all my information so I don't have to fill it out again - she can get what she needs and I'll sign what I need to.

Lesson for anyone starting out and even those that would dare do what I did. Make sure you get your pre-qual so that you don't ruin the deal yourself.