Your Local Michigan Mortgage Specialists

Tales from Overseas aka Shanghai Surprise

December 5th, 2016 by Inlanta Staff

This tale involves a referral that came from a friend of a friend who we helped relocate from Chicago to GR. We connected him with an agent that helped him purchase a home sight unseen and helped him navigate a very smooth purchase transaction. He felt so confident in our abilities that he referred his in-laws to us. This was a complicated deal, to say the least. His in-laws had lived in Shang Hi “full time” for the last 3 years working full time for an American company that paid them 50% in American currency and 50% in Yen. They were purchasing a primary residence in the states. The complications on this deal ranged from obtaining a valid credit report, communicating with clients that are on opposite time zones literally half a world away, dealing with set travel schedules that had no flexibilities, foreign embassy’s that were half a world away had crazy security measures…This deal was a tough one for many reasons and in fact due to all of our challenges it looked like we weren’t going to make our closing deadline which btw there was virtually no wiggle room on as the seller had threatened to take the deal off of the table. With true trust and confidence in Superhero Stephanie, the clients took our word that we could close a refi immediately after the purchase and they ended up pulling from an IRA that had to be replenished in 60 days to avoid tax and penalty. We just closed on their refi and all took a very large sigh of relief!!!!