Get Pre-Qualified or Pre-Approved
Pre-Qualified means that you have talked to a lender
or a mortgage broker who has, based on information you told them,
calculated what your home budget should be. This qualification
is subject to verification of the information you gave the representative
and the appraisal of the actual home you will purchase. Pre-Approval
means that a lender has actually verified your financial information
and approved you as a borrower for a specified amount. All you
need to do is to purchase a home which will appraise at the price
you and the seller agreed upon.
Getting pre-qualified or pre-approved is important for two reasons.
First, as your Realtor® I will need to know which properties
fall within your financial means. I want to show you the best
value possible in your price range. Second, when you write an
offer on a property you will want to attach the pre-qualification/approval
letter to your offer so that the seller is favorably impressed
by your financial credentials.
know of a great local loan officer by the name of Kim Rivas. She
is an MBA graduate from Cal Poly. I recommend all my clients to
Kim, and I do all my personal financing through her. She has very
competitive rates, great loan programs, and she gets the job done.
She is a "no pressure" person, works 7 days a week,
and answers her cell phone anytime. I work with a lot of loan
officers, and in my opinion she is the best. Let me know if you
would like her phone number and I would be happy to put you in
touch with her.
Let's look at some homes!
Once I know your taste in homes and your budget I can arrange
for us to preview some homes. I usually book about four to six
homes; or about what we can see in two hours. I've found that
more than that often overloads buyers with too much information
("Was the blue master bath in the yellow house or in the
white house with green shutters?).
Sometimes on the very first outing you'll find THE house. After
all, I'll try to show you your "best bets" right away.
If not, I'll keep on going with another round until you've seen
the entire possible inventory. If the inventory is low, you may
need to be patient. I'll watch for new listings that might match
your criteria and call or e-mail you right away so that you can
get the jump on competitive buyers.
What should I offer?
Once you find THE house, I'll guide you through the offer process.
Writing an offer takes about a hour. I'll explain how to form
the terms of your offer. I'll also review the recent sales which
are comparable to "your" house and advise you regarding
various strategies you may want to consider. Every client and
every house are differentand so are offers. Here is where
my years of experience will pay off for you.
You'll need a personal check to write an "earnest money
deposit" to attach to your offer. This check is held uncashed
until after your offer is accepted by the seller and escrow is