Power of Being a Pre-Approved Buyer

By
Real Estate Agent with Green Home Realty, 210-789-4216,www.Selling-SanAntonioHomes.com TREC #0492321
http://actvra.in/GbX

Power of Being a Pre-Approved Buyer
Power of Being Pre-ApprovedThere is no doubt in most real estate markets that those Pre-Approval Letters carry more power than those Pre-Qualification Letters. The facts remain that those who seek pre-approval are more likely to close their transactions than those who are only pre-qualified. Naturally, the lenders will state that certain lender requirements will have to be met to get final underwriting approval, but a Pre-Approved Loan still carries more weight.

In most cases, real estate agents want to be assured that their buyers are able to complete their transactions from contract to closing.  Normally, financing takes about 30 to 45 days depending on the type of loan, and any other lender requirements.  This month’s video presentation from KW International just about sums it all up for buyers, who are getting pre-approved before they start their home search. With interest rates at an all time low of 3.53%, Now is a Great Time to Buy that new home, condo, or townhome.


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Topic:
Home Buying
Location:
Texas Bexar County San Antonio
Groups:
Real Estate Rookie
Lone Star Real Estate Professionals
Texas Real Estate
It's A Buyer's Market
Almost Anything Goes
Tags:
contrat to close
prequalified
preapproved loans

Comments 36 New Comment

Ambassador
711,988
Jerry Newman
Texas REALTOR, San Antonio Military Relocation
Green Home Realty, 210-789-4216,www.Selling-SanAntonioHomes.com

Yes, Wayne. It's just a Good Practice to have in place. Proof Funds or the Pre-Approval is always best.

August 11, 2012 02:47 PM
Rainmaker
757,020
Will Hamm
Where There's a Will, There's a WAY!
Hamm Homes

Hey Guy,  Great blog, I always tell people we need to get the horse before the cart to do it right.

August 11, 2012 08:22 PM
Ambassador
711,988
Jerry Newman
Texas REALTOR, San Antonio Military Relocation
Green Home Realty, 210-789-4216,www.Selling-SanAntonioHomes.com

Yes, Will. It's a great lesson to teach all my buyers. I just want them to be in a better position to make those offers.

August 12, 2012 02:50 PM
Rainer
190,273
Stephanie Stringer
Mortgage Loan Originator
First Choice Loan Services NMLS#210764

Hello Jerry- I had to re-visit your blog to share with you some exciting information that just rolled out with our company.  It's actually better than a pre-approval letter.   If you have a serious buyer looking to purchase in the next 60 days I will gather their income, asset information and order tax transcripts through the IRS and then submit the file into underwriting without a property contract.  Yes, an underwriter will decision the loan without a contract.  My conditions will be pretty much to get a contract and the remaining necessary items (title work, tax certs, and etc...)  Now this letter is the GOLDEN TICKET in buying a home!  This is big for the sellers too!

September 18, 2012 09:52 AM
Ambassador
711,988
Jerry Newman
Texas REALTOR, San Antonio Military Relocation
Green Home Realty, 210-789-4216,www.Selling-SanAntonioHomes.com

Thanks, Stephanie, I will certainly give you a call for my new clients. This is some Great News!

September 18, 2012 05:39 PM
Ambassador
711,988

Jerry Newman

Texas REALTOR, San Antonio Military Relocation
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Additional Information

San Antonio Texas Real Estate, a great place to live. Let me be your guide and source of information for buying, selling, or investing in Military City, USA.