The internet world is full of real estate insiders and outsiders who are trying to change the way the business is done and in turn profit from it. Like all of those trying to break into some internet related business, some will be successful and some will not. But when it is all said and done, most real estate transactions take a great deal of work, patience, experience, skill and more to be completed properly. Obtaining the financing is just one part of the puzzle, usually left up to an experienced professional. To this point in time, I am not aware of any transaction completed in my company that I would consider to be purchased with a purely internet obtained mortgage.
Somebody still has to perform the functions that a local mortgage broker performs.
There is more to it that meets the eye. There is another challenge, and it's called Mammoth. Although the borrowing for a Mammoth acquisition has become far easier than it was 10 or 15 years ago, there are nuances here, like any other market, and probably more. We can't go sit on their desk. We don't have a long term relationship.