Make sure you are ready to buy when you write that offer!

By
Real Estate Agent with John J. Howard & Associates

Two words....Get Prequalified!  Before you go and look inside the home of your dreams it is a good idea to sit down with your lender and get prequalified.  Lenders are asking for more documentation these days so be ready to show them copies of everything except your kitchen sink.

The process can be daunting but if you are working with a Realtor who knows your market and is a full time Realtor he/she will be able to assist you in gathering documents and talking with lenders.

It can be a real bummer if you find your dream home that cost $200,000 only to find out that you qualify for $150,000.  So, talk with your Realtor and you lender/s and find our what you are qualified to buy.  After all, you are in a much stronger position when you can submit your lenders letter along with your offer.

So...Happy House Hunting! and may you find your dream home soon.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Jean Hanley 08/17/2010 07:54 PM
Location:
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Rainer
370,054
Tish Lloyd
BlueCoast Realty Corporation - Wilmington, NC
Broker - Wilmington NC and Surrounding Beaches

Well said!  Having a pre-qual letter is the most important step a buyer can take.

Aug 17, 2010 08:02 PM #1
Rainer
63,700
Brett Reichel
Pacific Residential Mtg., LLC - NMLS 1477 / WA CL-1477 - Clackamas, OR
MLO 210215

Great advice - make sure they are working with a lender who actually pre-qualifies them, too.... I talked to one loan officers assistant who said she routinely writes pre-approval letters for borrowers before the loan officer even talks to the people!  Amazing!

Brett

Mar 26, 2011 09:25 PM #2
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Rainer
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Brenda Jackson

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