When working with buyers, it is necessary to get pre-approved prior to seeing homes. We can see condos and homes all day long, but if a buyer is looking at $ 700,000 and later finds out he is approved for $ 500,000, we need to know upfront. Otherwise, we have just wasted everyone's time - buyer, seller and agents. A preapproval will likely determine where we will look and the type of home. If paying cash, then proof of funds are necessary.
In Boca Raton, Florida, we submit a preapproval or proof of funds with our offer. Otherwise, I get a call from the listing agent asking for it. If this happens and there is more than one offer, a buyer stands to lose the house. If you are a buyer, please take a few moments to read the post below by Amanda and Jared Christiansen.
Thank you, Amanda and Jared, for posting what I explain to buyers all the time.
This is a question we have been asked many times in the 8 years that we've been selling real estate in the Fort Wayne area.
Some of our buyers are 100% certain on their credit scores, income, and buying power.
Some of our buyers aren't sure if they can qualify for a mortgage because of income, questionable credit scores, or a recent bankruptcy.
Either way we have our buyers get pre-qualified for a mortgage before we start the house hunting process.
Here are some reasons why:
1. What if you think you can afford a $300,000 home, we go view a couple, and you fall in love? After you meet with the mortgage banker you realize you can only qualify for $200,000? There's a big difference between the two prices in Fort Wayne. That lower priced home just isn't going to live up to the higher one.
2. What if we show you 5 homes before you get approved and then you find out you can't even get a mortgage? That's wasted our time, your time, and the seller's time. We've had many sellers that have young kids and pets. Them rushing around for an hour to prep the home for a showing where the buyer can't even buy isn't fair to them at all.
3. There are many types of loans out there. How do you know which one is best for you? What's the difference between uninsured and insured conventional loans? What is PMI? What's the difference in interest rates on a 15 year v. a 30 year loan? All of these questions can be answered by a qualified mortgage banker.
We highly recommend Ruoff Home Mortgage and have had nothing but success with them, but it's always your choice in who you use.
So when you call us to help you find your new home in Fort Wayne, expect us to ask you to get pre-qualified for a mortgage before we open the first door and see the first home. It's not that we're trying to be difficult, it's simply good business to do it this way.
Feel free to give us a call or text with any and all real estate questions at (260) 704-0842. Thanks for stopping by!
Amanda and Jared Christiansen are award winning Realtors with Century 21 Bradley Realtors in Fort Wayne.
Enough about us...
Tell us what you want your real estate experience to be, and we will do it YOUR way.
Buying a home in Fort Wayne? Tell us your wants and needs. Let us know how you envision your family living. Tell us what's important to YOU, and we'll find the community and home that fits.
Selling your home in Fort Wayne? Our job is to make you the most money possible in the shortest amount of time. We offer our sellers professional staging, professional photography, and more internet marketing than most.
We are committed to giving you everything we have to offer. We are both full time agents and will work around your schedule. Do nights and weekends work better for you? NO PROBLEM. We are here to help YOU at YOUR convenience.
Amanda can be reached at 260-704-0843, and Jared can be reached at 260-704-0842, or you can email us at JaredChristiansen@gmail.com, or Amanda427@gmail.com.
By Email: Elyse@ElyseBerman.com
By Text - 561-716-7824
Cell - 561-716-7824
Elyse Berman, PA, CRS, ABR,GRI, e-PRO, of Realty Associates Florida Properties 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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