I do... and when I represent buyers, I ask their lenders to call the listing agent to make certain they understand my clients are qualified.

Always, without exception. It's part of my due diligence so the seller can make the most informed decision. However, I just had one where the lender flat-out lied in his letter, and during our phone conversation.. that didn't come out until a few weeks into the contract period. 

Yes, especially if I don't know the lender.

I usually request a pre-qual letter, which is sufficient for me.

I always did KAREN SANCHEZ . It's good to know if you are wasting your time.

 It depends upon what documentation (pre-qual or pre-approval letter) was provided by the Buyer side agent.   If it looks questionable, yes I want verification.  

It is a good idea to check with the lender to make sure the buyer is well qualified to make the purchase. No reason to fight about it.

Depends on the agent, lending institution, and terms of the financing. It is a good practice to check in with the lender, but there is no hard & fast rule for how to handle this.

Ah, the age-old question of whether to call the lender before diving into the exciting world of selling a home. It’s like asking whether to check the weather before going for a picnic—yes, you really should! 

As for me, I don’t mess around with mortgage pre-quals; I only roll with the big guns—pre-approvals. They’re like the VIP passes of the mortgage world. You want to make sure the buyer isn’t just a “fingers crossed” kind of situation, right? 

And yes, I absolutely pick up the phone and chat with the lender—because let’s be real, we all know that a little ‘Desktop Underwriter or Loan Originator approved’ badge won’t cut it. At least not for me. I need to know that an actual air-breathing water-drinking human underwriter took a good, hard look at the buyer's financials. I mean, wouldn’t you want to know if the potential buyer can actually back up their dreams of owning a home with more than just wishful thinking? 

So, in short, it’s not a fight starter; it’s a crucial step in keeping this wild ride on the track!  How do you handle it? Maybe there’s a secret handshake I don't know about!

100% depends on my knowledge of said lender/loan officer

💯‼ every single time!

My question: is there any reason your borrower could not close this deal from your end?

Calling the lender financing the purchase for the buyer to get more information on the loan status and qualifications of the buyer are great ways to represent your seller. Knowing this information can help your seller know whether or not this potential buyer can afford their property.

Absolutely.  I ask all kinds of questions, including "Has the loan gone through desktop underwriting?" Some lenders do this in-house.

If I did not vet and verify the buyers' loan qualification, I believe that would be a breach of my fiduciary duty.   

Trust but verify. Everyone here is preapproved here but I still call  that lender.

Yes, my job is to verify and confirm the offer we are considering has done their job and is ready to proceed with the purchase if their offer is chosen. 

Always treated pre-quals as rubbish. As for pre-approvals, depending upon the lender and the loan officer I may or may not. If a preferred lender and loan officer provided a letter and failed to fund, they moved to the bottom of my list and the next preference was up. These days maybe a bit more follow-up. 

If I suspect we are not track, oh you bet. I had one lender underwriter tell me: I can't talk with you. MY RESPONSE? I will cancel this whole deal if U don't tell me the update! She did

No really but i go with the crowd and answer that it all depends.  Depends on if it is an out of market lender, depends on if i know and trust the other agent.  

Always do before I present a offer and tell them also if we accept contract, I will call them every Monday for updates , do not like surprises

Sometimes. It depends on the situation. I find it to be very helpful especially if I'm not familiar with the lender. My lenders call the listing agents for me especially in a multiple offer situation.

Most good loan officers call me to confirm how strong the buyers are. If they don't, then i'll call them.

Lender answer here (and I too don't want to start any fights).

Knowing what I know about pre-approvals, I would ALWAYS call the Lender if I were the Listing Agent and/or require the Buyer(s) to cross-approve with my Preferred Lender. 

One simple extra step can potentially save you (& your Seller) from a Buyer cancellation 2-3 weeks into escrow!  The stakes are raised even higher if your Seller is purchasing a new home contingent on the sale of their departing residence (i.e. your listing).

Yes, in many instances I will call the lender on an offer especially if I don't know the agen that brings the offer.  Much of the time when working with an agent I know and trust that isn't the case.

I do call the lender, unless it is a bank, and we got the offer on the weekend.   I recently got one from a bank I have had very good experiences with, so felt comfortable moving forward before calling.

Yes.

KAREN SANCHEZ 

Yes!

Always, not even a question for me. I call them even if I'm a listing agent: to introduce myself and to see where they are in the reapproval process. 

I doubt my feedback is helpful as my market operates very differently.  For financing buyers (in the minority these days) - I want to see the buyers REBNY Financials- which is part balance sheet and part income statement- and typically included in offers here. Evaluating their REBNY Financials gives me a decent sense of whether the pre-approval is likely to mean anything as I am doing the math on my own. Once I have a sense of the buyers financials-I am then comparing that to what is going on in the building- and whether their terms make sense vs. what is likely to be underwritten. For example- I just sent a client a listing earlier today. I was the last broker to sell in the building 2 months ago- so I know what is happening in the building. I know most banks won't underwrite in the building because only 35% of the building has been converted to condos while the rest are rent controlled/rent stabilized. That makes it difficult for most banks to underwrite in the building. Then add to it that the building is considered "Unsafe" by the city (it's not- but it defaults to that status for work not completed with an updated filing) - though work is being done right now to rectify the problems. The work being done right now in the building is being paid for by a huge special assessment (for only 9 more months though) - which is more than the monthly common charges- yet a 3rd reason why so many banks don't want to underwrite in the building. So- the pre-approval is likely worthless for a building like this unless the buyer is putting down at least 30-35%- and then maybe it's worth calling the lender to see if they will underwrite the buyer that was pre-approved (though I am more concerned whether they will underwrite in the building rather than the status of the buyer).  Back to the client I suggested this building to earlier this afternoon- she would be an all cash buyer for her daughter to live in- and she owns in a building with a similar status- so the risks that might scare off some buyers wouldn't scare this client off. These apartments are indeed discounted to offset the risks/costs inherent in this type of situation.