Archives for the month of: May2011

Have your financing ready to go!!

Today’s lending environment has changed. Gone are the days of simply “fogging a mirror” as proof of life to obtain a home loan.

Lending in the past few years has become MUCH more detailed and complex  – your lender will require much from you, and they’ll need 45 days to get you to the closing table.

Of course, you may use anyone you wish. We like to recommend our sister company Premier Mortgage Lending; a local lender with over 75 years of combined lending experience. You may find their link to the right on our home page.

ALL offers today require some type of “proof” you can buy the home. This comes in the form of a loan approval letter from a reputable financial institution. With over 20,000 (!!) listed properties on MLS today, it’s certain you’ll soon find one to buy.  Without that “evidence”, your offer cannot be seriously considered by the seller, and you’ll lose out to someone else who was prepared. And THIS is why your agent says “Get Prequalified First”!!

To make your homebuying experience a pleasant one, have your financing ready to go!!

Give your Realtor ample time to do a good job for you!!

Once you’ve found a property you’d like to see, your agent needs time to contact the listing agent, learn if it’s still available or if a contract is being negotiated, research any special buyer restrictions (of which there are many today), get gate codes, lockbox codes, and learn the specific instructions for showing the property – because there ARE specifics on every listing. Remember, thousands of properties listed for sale are still occupied, which adds yet another element: we need to reach the occupant for an appointment. All of these things take time, which is why it’s best to give your agent as much notice as possible before expecting to go out house-hunting! If you’re in the market to buy a house, contact a Realtor with an “ABR” designation (an Accredited Buyer’s Representative) and give them ample time to do their job. You’ll be SO much more satisfied with the results!!