They should have their lender picked out before we even begin to look at houses.

They can shop forever for all I care, they're just not shopping w me until they can demonstrate that they have the means.
Also remember the way somebody does something is the way that they will do everything and if they're going to be penny-pinching for a lender they're going to drive you nuts making a deal.
Remember you don't have to take them all!

I can't say this is a situation I encounter.

I haven't had that happen. Once in a while, there will be a legitimate reason to switch lenders at some point during the process. But that's rare in my world. 

   They have to meet the contingency deadline that is in the contract.  

I don't know... that has never happened to me.

My buyers need to have a lender BEFORE I  burn my gas...

Sounds like you are too eager...

Eve

why are they not going with the lender who pre-approved them??????  you'd better set the rules at the beginning of the game.... they need a firm hand praful....

Yeah they should be pre qualified for a mortgage when putting in an offer and we always do a 30 day mortgage contingency... 

I don't work with them UNTIL AFTER they have chosen a lender...

I take contril nd let them know all will be similar costs, you pay up front or in the rear. The difference is service. 

I prefer them to use a lender I'm familiar with. They also need to be qualified and ready to make that decision in our market. Yes, I have worked with a buyer that drove me crazy & every lender he tried to work with.

I work with other clients

Point out all the homes that they like that have gone off the market already.

I basically force my clients to only use my two lenders LOL 

My cart is behind the horse. Where's yours?

It's never a problem with me. When I discover my buyer is "shopping around", I let them know that they can shop 3 lenders within a 30 day period. If they continue the process of more lenders or more credit pulls after 30 days, it will effect their credit in a not so favorably way. That stops it right there!

Tell them once they pick someone they need to stick with them and then we'll go looking at houses... and pray they aren't doing the same with agents.  Get that BBA signed!

I think I've had that once a long time ago.  He missed on the home that he liked.   Now with the 3 day CFPB rule, they need to make sure that the lender can close on time.  

remind them that their credit will take a ding if they shop around too long

Praful,

With all due respect, where do you find these people?  When someone is willing, ready and able, they have their act together and do not dilly-dally! In my opinion, these are the people who are not worth your time or attention.

Our contract says they only have so many days & they are in default & the house goes back on the market. Tell them that.

Ha!, I had one of those earlier this year, until the deal almost went dead... when I said "tomorrow you are losing your earnest money, and your deal is over, pal...".

I busy myself by selling houses to the clients that are ready, willing, and able.

Have them use your recommended mortgage lender.

Richard Weeks has my answer.

This typically happens before the sale with my investors.

Unless its family or a friend I always have them pre-approved before I show them house. If you are already showing them houses then I suggest talking to them. Let them know that until they are approved for a loan you cant show them anymore houses. If they ask for a reason just state that you need to make sure you are showing them houses in their price range.

Finding a lender is not the problem, finding the right home is something that might end our relationship.  I learned in 1996 when I began my career from a seasoned veteran to let the client know that they won't make the market, just must find a home within the market.

I don't allow this - "time is of the essence" always!

They could wind up in Default ?

I've only had that happen once ... and I did not even know they were doing until .... I was asked, when do I have to decide?  That was a holy crap moment, for sure!!!  People to underhanded and covert things and think they are clever and it can, and sometimes does backfire on them ... and cause them harm. 

Wait.

This is the biggest purchase of ones life...let them have it

Explain there is no last penny, but rates will move up! Choose carefully!

When the 3rd house they love is purchased by someone else, they tend to wake up and smell the coffee.

And that's when I thank my lucky stars I didn't send them to any of my resources. These folks will need to find their own inspector, handy man, lawn and pool service folks.

It has not happened.

Picking 1st agent and when that's me I'll give them several good choices and let them know they need to get pre-approved before we go looking for houses. Shopping without pre-approval is a waste of their time these days.

Can't see homes or make an offer without a preapproval. 

Maybe they are not for you! 

Give them the contract deadlines and remind them their EMD is in jeopardy.

I will forget about them as fast as I could. :)

I'm with Richard Weeks on this one!

65% of clients do not want to show me the preapproval letters. Adios.

Hasn't happened to me.