There are plenty of downsides to using a lender outside of our market:

Most listing agents will upload all pertinent documents to the MLS when they list the property. (We always do this for very good reasons.) However, not all listing agents do this. When your client is ready to make an offer and you’re in this situation, then do the following:

1) Let your client know that you’ll want to review these documents as soon as they become available. While it’s unlikely, there could be something in the documents that they’re not okay with, and they could lose their option fee if that happens. (You’re presenting any downside to them ahead of time.)

2) Immediately call, text, and email the listing agent to let them know that you have an offer incoming and you didn’t see the docs in the MLS. Oftentimes, the listing agent has the docs and forgot to upload them. Sometimes, the SDN isn’t required (if an estate sale or foreclosure.)

3) Write your offer and check the box “has not received the notice” and enter 3 days for that period for Paragraph 7.

The survey is generally the other pertinent document. You will usually check #1 on Par 6.C and then select “buyer” or “seller” to pay if no survey is provided. This decision will depend on how competitive the situation is.

4) Present your offer. When all of the documents become available, present them to your client ASAP. The contract or offer does not need to be amended since the seller has satisfied their obligation to present the documents.