Harv Sharma

At ATB Saddle Ridge Calgary North! Go Team Saddle Stars!

A new story but known practice by brokers! On Oct 17, I walked into my favourite restaurant for a pickup and was welcomed by the Chef. I asked him if he would mind me keeping my business cards there and he was surprised to know that I am a mortgage specialist, he said I always knew that you are a banker but we never talked about you specializing in mortgages Turns out he had just put an offer on a house with possession date of Nov 16, he shared two concerns with me.... 1) He waived the financial condition on his house as his broker adviced him over the phone that he was approved by Scotia but never provided any written documentation or Commitment to Lend (which by the way, one should never waive condition until they have Commitment to Lend by the Lender) 2) His broker never responds to his phone or texts and has told him that his approval would no longer stand if he check for approval with another lender Chef is a smart guy and he knew what exactly his broker was doing. He was keeping the chef hanging so the chef is helpless when it’s close to closing and then tell him that he could only get the approval from a B Lender at a higher rate of interest. It took me a few calls to convince the Chef that it’s okay to check for mortgage with a few banks and being a customer he is free to explore his options before committing to one. On Oct 18, the Chef decided to trust me and sent me all documents by eod. Oct 22, he was approved from ATB and I emailed him the Commitment Letter. I was so happy for him He takes possession today and my best wishes to him for buying his first home in Canada

Happy Diwali Everyone!!