Real Estate Agent Familiar with NACA Process

[Karen Kingston]

Hello everyone,

I'm a real estate agent from New York. I work equally with buyers and sellers. This past month a past rental customer called me and said she was looking to buy a house. She proceeded to tell me that she's using NACA for the purchase. Great right? Wrong.....I was just able to get scheduled for a workshop to introduce me to the program which is next week but in the meantime, they viewed a 2 family home and want to submit an offer!!! None of the agents that I know are familiar with the program. My broker told me to try to find her a different program but they want to use NACA. So here goes....... I really just need some guidance , advice etc about the process. We got a home insurance quote already but is there anything else I or they need to do? How about agency? Do I need to act as a Buyers Agent? This is going to be interesting : ) Any help is appreciated.

Btw....she has a point of contact but it takes over a week to get a response. I would love for this to work out for them but in the back of my mind it seems more like a trial run to prepare to successfully close a deal using the NACA program somewhere down the line.

Thanks

[Carley M.]

Chris Mason you might benefit from actually understanding how NACA works. The people who give up and leave the program do so because they get frustrated or simply aren't organized enough to act as their own Processor. A lot of the problems I've seen are simply the result of lack of proper staff training and failure to communicate realistic expectations to the clients.

There is only one workshop where you learn about the program and one other workshop to teach these first time homebuyers about realtors and looking for houses. The "months" that these people spend in the cycle are used to write letters explaining their credit issues (this happened, I got behind, won't happen again) and working through any items that an underwriter might or is questioning, and making sure the borrower is sustaining on a budget that allows savings.

This is a financial overhaul for some people. It's completely foreign to everyone going through the program and there aren't clear road maps to follow since every single purchase has different issues.

This isn't a scam or a trap, it's an amazing program where the staff is just not managed appropriately.

I successfully completed NACA and am helping 4 of my friends go through the process now.