Too many listing agents accept offers without ever picking up the phone to call the lender listed on a pre-approval letter. It’s wildly shocking how few actually vet the lender behind the buyer. It happens less than five times a year—and we close hundreds of loans. That kind of oversight can cost sellers time, money, and opportunity.
If you’re a listing agent or seller, this guide is for you. Whether it’s a competitive market with multiple offers or a slower season where only one offer is on the table, knowing who the lender is and what they bring to the table makes a huge difference.
Why Vetting the Lender Is Crucial When Selling a Home
Too many listing agents accept offers without ever picking up the phone to call the lender listed on a pre-approval letter. It’s wildly shocking how few actually vet the lender behind the buyer. It happens less than five times a year—and we close hundreds of loans. That kind of oversight can cost sellers time, money, and opportunity.
If you’re a listing agent or seller, this guide is for you. Whether it’s a competitive market with multiple offers or a slower season where only one offer is on the table, knowing who the lender is and what they bring to the table makes a huge difference.
Why It Matters to Ask the Right Questions
Your goal is to accept the strongest offer, not the one that falls apart at underwriting. When you accept an offer, you’re pulling your home off the market and hoping the deal makes it to closing. If the buyer’s lender isn’t experienced, communicative, or capable, you’re taking on unnecessary risk.
Be sure to also check out the Questions To Ask: About Your Buyers.
Benefits of Vetting the Buyer’s Lender
- Avoid delays that derail your move or closing timeline
- Prevent deals from falling through due to weak pre-approvals
- Reduce stress by working with reliable professionals
The questions below are not just about getting the “right” answers. You’re listening for how the lender responds. Do they sound confident and experienced? Do they sidestep key details? Are they proactive or reactive? A strong listing agent sets the tone early—and when you vet the lender properly, you protect your seller’s position.
Your Risk
When listing your home for sale the greatest fear you have is accepting an offer and taking your home off the market for a buyer that ultimately does not qualify for a home loan. By taking your home off the market you:
1. You miss potential home buyers that may have been interested in your home.
2. You waste time planning for a move only to have to postpone and reschedule it.
3. And if you made an offer on another house you potentially risk defaulting on that purchase contract and losing your option and earnest money if you needed your house to sell.
Lender Experience and Background
Q: How long have you been originating loans?
A: Make them be specific. Hopefully the answer is not a generic “for a while.” Mortgage Mark entered the business in 2002 and has been originating loans since 2004 and is among the best mortgage loan officers in Dallas. The longer a lender has been in business, the more likely they’ve seen and solved common issues.
Q: What was your personal production volume last year — both in number of units and total loan dollars?
A: This gives you a real-world measure of how active and experienced they are. If a lender did five loans total, that’s not the same as someone doing five every week.
Q: Tell me about your company — are you a banker, broker, or mortgage banker?
A: This tells you how much control they have over the loan. Mortgage bankers underwrite, close, and fund in-house, which means they’re not waiting on third parties. That level of control helps prevent delays and surprises.
Q: Are you local? What area or state do you do most of your business in?
A: Local lenders are more familiar with area appraisals, title companies, and agent expectations. This often translates into more accurate timelines and fewer hiccups during the transaction.
Q: Have you worked with this buyer’s agent before?
A: Strong working relationships mean better communication and smoother coordination. If they’ve closed deals together before, it’s a positive sign.
Q: How do you know the buyers?
A: Ask whether this is a past client, a referral, or someone they just met. You want confidence that the lender truly knows the buyer’s file, not someone who issued a quick pre-approval without digging in.
Team Structure and Support
Q: Tell me about your team — do you have dedicated support or shared staff?
A: You want to know if they’re running everything themselves or have a structured team. A well-supported team with defined roles means more eyes on the file, fewer mistakes, and better outcomes.
Q: Do you have a dedicated processor, or do you share one with others?
A: A dedicated processor can keep files moving without distractions. This helps ensure that tasks are handled on time and communication remains clear and consistent.
Communication and Professionalism
Q: How will you communicate with me, the listing agent, throughout the loan process?
A: Ask what type of updates you’ll receive—calls, texts, or emails—and how frequently. Weekly phone calls with follow-up emails are ideal. Consistent communication means no surprises.
Q: Will I get updates only at milestones, or do you provide weekly check-ins? Will they be in writing, over the phone, or both?
A: Weekly check-ins build trust and prevent last-minute chaos. If they promise updates every Tuesday, repeat it back and ask what to expect if you don’t hear from them.
Q: If something goes wrong or delays arise, do you have the authority to escalate and fix it quickly?
A: Titles matter. A branch or regional manager can usually resolve issues fast without needing extra approval. This can make or break a deal on a tight timeline.
Q: What’s the best way to reach you directly if something urgent comes up — call, text, email?
A: You want a clear, direct line of communication. If they hesitate or only give a general office number, that’s a red flag.
Operations and Workflow
Q: Do you underwrite and fund your loans in-house, or are they brokered out?
A: In-house control is ideal. The more the lender controls the process internally, the less likely you are to experience delays, surprises, or miscommunication.
Q: Will this file be handled by your internal team from start to finish?
A: Continuity is key. You want to know the same team will handle the loan from submission to funding, not shuffle it between multiple departments or vendors.
Q: What are your current turn times for initial underwriting and for closing?
A: Ask for up-to-date info. A confident lender should know their current turn times and be transparent if volume is causing delays. This helps set proper expectations with all parties.
Q: How long does it typically take you to get a file clear to close?
A: A strong lender aims to have the file clear to close at least one week before the closing date. That buffer allows time for last-minute issues to be resolved before funding.
Q: How many days before closing can we expect to receive the final Closing Disclosure (CD)?
A: While three business days is the legal minimum, organized lenders often issue it earlier. Ask how early they typically send the CD and what to expect if anything is delayed.
Appraisal Process and Local Knowledge
Q: Tell me about your appraisal ordering process — how many AMCs do you use?
A: Ask how they source appraisers and whether they have vetted relationships. We work with a dedicated AMC that only services our company, which helps ensure quality, speed, and local knowledge.
Q: How confident are you in getting solid appraisals and accurate values in this area?
A: Local knowledge matters. Appraisers unfamiliar with the market can misvalue homes. Ask if their appraisers know the area and are familiar with the neighborhood.
Q: If an appraisal is delayed or comes in with issues, what’s your backup plan?
A: A seasoned lender should have a strategy for delays, rebuttals, or reassignment. Ask what happens if the appraiser goes silent or the value comes in low—how do they respond?
How This Sets the Tone
These questions don’t just give you answers—they tell the lender you’re a serious professional. If the lender knows you’re going to follow up and hold them accountable, they’re more likely to stay sharp, communicate well, and deliver results.
The more proactive you are upfront, the fewer issues you’ll run into later.
Want to compare notes or talk through a deal? Reach out to Mortgage Mark. We’re happy to walk you through the process and show you how we close clean, on time, and with zero surprises.
Looking for the best mortgage lender in Dallas? Contact Mortgage Mark today and let’s get your next deal done right.
Mark Pfeiffer
Regional Sales Manager
Loan Officer, NMLS # 729612
(972) 829-8639
MortgageMark@MortgageMark.com