When we decided that we would be staying in this area for awhile, we decided that it would be ridiculous to not buy property. I spoke to several people about their experiences with real estate agents. After much discussion, we decided to go with the recommendation of a lady that I respect. We spoke with Linda and liked what she said, so we agreed that she would be our realtor.

That was a good decision. She basically found out what we liked, did all the research and drove us around every weekend. We actually found a couple of houses that we wanted to put offers on. With the first house, another couple made a higher offer right after we made ours. We decided to not enter a bidding war and instead made an offer on the other house that we really liked. After going back and forth a few times, our offer was accepted.

It sounds like everything was under control. At the beginning of our conversations with our realtor she had recommended a couple of mortgage brokers that she usually used. The gentleman that we chose had been in the business close to thirty years, so we felt comfortable with that. Ah, that is where the problem began. After much paperwork, he proceeded to tell us the details of our mortgage. The interest rate was great and everything else worked for us.

After accepting our offer, the sellers agreed to close in thirty days. When we got down to fifteen days, we were getting a little nervous. The mortgage broker had assured us that there was no problem a few days earlier. Eleven days before we were to close, the bomb hit!

The mortgage broker called and said that we did not get the mortgage because the rate was not available. He had found out three days earlier and had waited to call us. The reason the rate was not available was because he had not locked it in.

This is my warning to you. Stay on top of everything. Even if the realtor or mortgage broker have years and years of experience ? hound them every step of the way. Keep asking that broker if he has locked in your rate. In some cases it might not matter. For us, it made a big difference. Once last month ended, the rates increased tremendously.

Fortunately for us, it all ended well because we have a friend in mortgage banking in another state and he helped us. Without him, I don't know if it could have been completed in the ten days that were left before the closing. Now we are settled in our wonderful house in a great neighborhood.

I hope that my experience will make you aware that you can take nothing for granted. Be on your toes. Stay in constant communication with the realtor and the mortgage broker. Don't assume that they will do their job because they are experienced. Use my experience so that the road to your new home will be a smooth one.