When the Doctor Becomes the Patient

I’m buying an investment property today. I won’t be at the closing because it’s in another city. One of my long time besties is showing up to be my Power of Attorney where she will sign my name to a bunch of loan documents. She was like, “You’re doing WHAT now?” I’m an open book and yet, I’m full of surprises. She’s used to this. Like that time I asked her to read a fable, draw her interpretation and then got it tattooed on my back. She knew what she got herself into when we met 21 years ago.

Unfortunately, the ease with which Real Estate Dad and I buy property is probably not a gem to share with my clients. Most people don’t make decisions like we do.

I know I just stepped through the front door but I’LL TAKE IT!

I know I just stepped through the front door but I’LL TAKE IT!

Anyway…going through the loan process has been a good first-hand reminder of what my clients endure when they are buying homes. You have to provide all your financial documents. You have to explain things that seemingly shouldn’t have to be explained. You have to do things the lender told you that you wouldn’t have to do – all so you can get the loan. I was armed and ready with all my paperwork and knew exactly what to send before they asked for it. But still…there was always more.

We’re coming down to the wire…literally. My friend is signing at noon. The original Power of Attorney document that I signed, had notarized and Fed Exed twice now has yet to arrive at the attorney’s office. The loan package from the lender hasn’t been sent to the closing attorney. I don’t even know how much money to wire. But we have 3 business hours, yes, hours, to get all of this together because C has kids to pick up from school so she ain’t hanging around much past noon. ALL OF THIS IS NORMAL.

The last-minute chaos is exactly what buyers of homes everywhere endure. Some buyers find this really stressful and get upset that things don’t run smoother. I had a recent buyer whose contract fell apart say that this was the “worst process ever” and he was going to continue renting. Well….you want someone to give you almost a million dollars, they are gonna have some questions. This is a process over which we have zero control.

So now I’ll sit by the phone and computer, waiting to see if everything falls into place by noon. Just like all my past clients have, just like all my future clients will do. I’m right there with you people.