To the Buyers, Please take a few moments and read this post by Endre Barath, a Realtor in Southern California. Where he is does not matter. He makes it easy to understand why you need to be pre-approved before we start looking for homes. It's done the same way in the Boca Raton/Delray Beach market.
Why Do I need to be Pre-Approved before you start showing me homes?
There are many first time buyers out there who have asked me this question. I constantly have to educate them about this question. My answer is very clear to the buyers:
•1. The issue is I want them to be sure, that they are in a position to 'buy' the particular home they found and like.
•2. I want to be sure that they are searching in the price point they can actually buy.
•3. I do not want them to miss out on a home they loved, but were unable to get because they did not have the Pre-Approval Letter to submit with their offer.
•4. Then my own selfish reason: I do not want to waste my time and gas with lookers who cannot qualify to buy anything due to bad credit or the bank's more restrictive underwriting rules.
•5. Sellers and their agents do not want to accept offers from potential buyers who are not in a position to buy; hence they might miss out on a Ready & Able buyer. They will not accept an offer without Pre-Approval from a reputable lending institution.
These are the most pertinent reasons why I expect a pre-approval letter from a buyer. If they do not have this, I always encourage them to do this and if they need a reputable lender I refer them to one.
In the mean time I set up a search program in the Multiple Listing Service a bit higher and a bit lower in what they think is their price point; hence they can get a feel for what the market is like. How is the inventory? What they can get for the various price ranges as well as the difference between certain neighborhoods? Ultimately once the Pre-Approval is done they are better educated on the inventory and when a property comes in their price & liking we can see it and submit a solid & strong offer.
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at firstname.lastname@example.org or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations
By Email: Elyse@ElyseBerman.com
By Text - 561-716-7824
Cell - 561-716-7824
Elyse Berman, PA, CRS, ABR, GRI, e-PRO of Best Connections Realty, Inc. serving Boca Raton FL and the surrounding cities of Highland Beach, Delray Beach, Boynton Beach, Lake Worth, Wellington, Deerfield Beach, Hillsboro Beach, Lighthouse Point, Fort Lauderdale, Hollywood Beach and Hallandale Beach.
Disclaimer: The information contained in this blog should not be solely relied upon and should be independently verified by professional sources. The opinions expressed herein are solely mine.
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