Physician Relocation Services

[napoleanna]

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So I keep getting these postcards from a group called Physicians Relocation Services. (www.physiciansreloservices.com) Seems to be a group that matches soon to be residents with real estate agents and mortgage brokers in areas they anticipate matching.

I have never bought a home before and want to when I start residency. This service seems like a good idea but I am so little aquainted with real estate I am not sure.

Has anyone worked with this group? Are there any disadvantages to using a service such as this? Any information/advice would be appreciated.

Thanks!

 

[Bobblehead]

I only had time to glance over the front page of the link. But the saying "no such thing as a free lunch" does come to mind. If you're not paying for it out of pocket you may be paying for it later on in terms of higher interest rates, less favorable closing costs, added fees, etc. Buyer beware.

 

[penguins]

You are allowed to shop around so I would see what they offer and then call other places too. The only thing I don't like about it is that they ask for your social security number.
I have called/contacted a couple of lenders now and they don't need that for a quote/information. As long as you know your credit score (which you can get free from equifax or another place) and your credit card debt, car debt, school loan debt... they can give you a quote. Obviously it isn't written in stone until they verify the numbers and stuff themselves.
Of course, this place is going to make a profit. But they are marketing themselves to a certain group and that is their market share. I don't think they are neccessarily going to charge you more than another place.
Shop around and don't be pressure to commit to anything until you see what several places have to offer.

 

[UHS05]

I tried using them last year...their realtor never got back to me and still continues to fill my inbox with his automatically generated stupidly cheerful spam mail. And the lender they have on there was completely unapproachable once the loan application (and application fees!) were in and then told me a week or so before closing that she couldn't give us the loan. She then proceeded to ignore my phone calls and emails until I contacted the manager at her bank...at which point things "miraculously" got sorted out and I closed a week late.

Others may have had better experiences, but I would not recommend them in the least bit...

 

[napoleanna]

Thank you so much for the advice and info I think I will steer clear of them. Good Luck to everyone!

 

[APACHE3]

BA and Suntrust and Physicianloans.com all have special doc loans.

 

[diosa428]

I tried using them last year...their realtor never got back to me and still continues to fill my inbox with his automatically generated stupidly cheerful spam mail. And the lender they have on there was completely unapproachable once the loan application (and application fees!) were in and then told me a week or so before closing that she couldn't give us the loan. She then proceeded to ignore my phone calls and emails until I contacted the manager at her bank...at which point things "miraculously" got sorted out and I closed a week late.

Others may have had better experiences, but I would not recommend them in the least bit...

Blacklisted on SDN. Worst place to be blacklisted ever.