88 Types of Home Turbulence | Beverly Hills Luxury Homes

You know that Beverly Hills Luxury Home sale is on and you plan to buy one of them. Buying your luxury home in Beverly Hills is like taking an airline flight across the country. When you start on your trip you have no idea how the trip will go. Neither does the pilot! You could run into 88 types of turbulence, or you could have a smooth flight and land on time. Certainly, the pilots will try to use their experience to navigate around the storms and go for the smoothest flight plan, but if they’re honest, they can’t promise a turbulent-free trip.

Their job is to get you to your destination in the least time and with the least aggravation while keeping you informed throughout the trip. Following is a somewhat humorous list of the 88 types of turbulence we might run into while buying a home in Beverly Hills Luxury homes for sale or Beverly Hills Luxury Flats sale prepared by Erik Brown, an experienced realtor in Beverly Hills, Los Angeles, California. Erik has worked over the years in Beverly Hills Luxury Real Estate and has noticed the clients experiencing these 88 types of turbulence while dealing with buying a Luxury Home in Beverly Hills Luxury Real Estate.

This 88 types of turbulence list is not all-encompassing, but it catches most of the common issues. While some of the items are “picky” to some, they are very real and fearful to others. Please take a minute to review the list. As your Real Estate Consultants, Erik and his team see themselves as the pilot of your plane. Our job is to find your home in Beverly Hills Luxury homes for sale, a good investment, negotiate and advocate for you and get you the keys within your timeframe, with the fewest aggravations.

We can promise you no turbulence, but we can promise you that we’ll utilize our experience and expertise to take you on the smoothest flight that we can. If we do hit 88 types of turbulence, we won’t bail out on you. We’ll be your teammate throughout the flight until we get you safely to your destination. Rest assured your advocacy is our #1 goal, and that means you must be delighted with the product we provide and deliver beyond your expectations during the process. Have a look at these 88 types of turbulence:

I) The Buyer/Borrower:

1. Does not tell the truth on the loan application.

2. Has recent late payments on the credit report.

3. Finds out about additional debt after loan application.

4. Borrower loses the job. 5. Co-borrower loses a job.

6. Income verification lower than what was stated on the loan application.

7. Overtime income not allowed by the underwriter for qualifying.

8. Applicant makes a large purchases on credit before closing.

9. Illness, injury, divorce, or other financial setbacks during escrow.

10. Lacks motivation.

11. Gift donor changes mind.

12. Cannot locate divorce decree.

13. Cannot locate petition or discharge of bankruptcy.

14. Cannot locate tax returns.

15. Cannot locate bank statements.

16. Difficulty in obtaining verification of rent.

17. Interest rate increases and the borrower no longer qualifies.

18. Loan program changes with higher rates, points, and fees.

19. Child support not disclosed on the application.

20. Bankruptcy within the last two years.

21. Mortgage payment is double the previous housing payment.

22. Borrower/co-borrower does not have a steady two-year employment history.

23. Borrower brings in handwritten pay stubs.

24. Borrower switches to a job with a probation period.

25. Borrower switches from the job with a salary to 100% commission income.

26. Borrower/co-borrower/seller dies.

27. Buyer is too picky about property in the price range they can afford.

28. Buyer feels the house is misrepresented.

29. Veterans DD214 form not available.

30. Buyer comes up short of money at closing.

31. Buyer does not properly “paper trail” additional money that comes from gifts, loans, etc.

32. Buyer does not bring the cashier’s check to the title company for closing costs and down payment.
The Seller:
33. Loses motivation to sell (job transfer does not go through, reconciles marriage, etc.).

34. Cannot find a suitable replacement property.

35. Will does not allow appraisers inside the home.

36. Will does not allow inspectors inside the home in a timely manner.

37. Removes property from the premises the buyer believed was included.

38. Cannot clear up liens – is short on cash to close.

39. Did not own 100% of property as previously disclosed.

40. Encounters problems getting partners’ signatures.

41. Leaves town without giving anyone Power of Attorney.

42. Delays the projected move-out date.

43. Did not complete the repairs agreed to in the contract.

44. Seller’s home goes into foreclosure during escrow.

45. Misrepresents information about home and neighborhood.

46. Does not disclose all hidden or unknown defects and they are subsequently discovered.

The Realtor(s):

47. Has no client control over buyers or sellers.

48. Delays access to the property for inspection and appraisals.

49. Does not get completed paperwork to the Lender in time.

50. Inexperienced in this type of property transaction.

51. Takes unexpected time off during transaction and can’t be reached.

52. Misleads other parties to the transaction – has a huge ego.

53. Does not do sufficient homework on their clients or the property and wastes everyone’s time.

The Lender(s):

54. Does not properly pre-qualify the borrower.

55. Wants property repaired prior to closing.

56. The market raises rates, points, or costs.

57. Borrower does not qualify because of the late addition of information.

58. Lender requires a last-minute second appraisal or other documents.

59. Lender loses a form or misplaces the entire file.

60. Lender doesn’t simultaneously ask for all the needed information.

61. Lender doesn’t fund loans in time for close.

The Property:

62. County will not approve the septic system or well. 63. Termite report reveals substantial damage and the seller is not willing to fix. 64. Home was misrepresented as to size and condition.65. Home is destroyed prior to closing. 66. Home is not structurally sound. 67. Home is uninsurable for homeowner’s insurance. 68. Property incorrectly zoned. 69. Portion of the home sits on neighbor’s property. 70. Unique home and comparable properties for appraisal difficult to find.

The Escrow/Title Company:

71. Fails to notify lender/agents of unsigned or unreturned documents.

72. Fails to obtain information from beneficiaries, lien holders, insurance companies or Lenders in a timely manner.

73. Lets principals leave town without getting all necessary signatures.

74. Loses or incorrectly prepares paperwork.

75. Does not pass on valuable information quickly enough.

76. Does not coordinate well, so that many items can be done simultaneously.

77. Does not bend the rules on small problems.

78. Finds liens or other title problems at the last minute.

The Appraiser:

79. Is not local and misunderstands the market.

80. Is too busy to complete the appraisal on schedule.

81. No comparable sales are available.

82. Is not on the Lender’s “approved list.”

83. Makes important mistakes on appraisal and brings in value too low.

84. Lender requires a second or “review” appraisal.
Inspectors:
85. Pest inspector not available when needed.

86. Pest inspector too picky about the condition of the property.

87. Home inspectors not available when needed.

88. Inspection reports alarm buyer and sale is canceled. If you want smooth sailing during your real estate transaction in Beverly Hills Luxury Real Estate, and a pilot who can bring you in for a safe, smooth landing, trust… us! We are excited to share with you many more details of how we can help you save time and money on your home purchase.