I frequently get calls from prospective buyers who are thinking about dipping their toes into the housing market. They want to start looking at houses right away so that they can get a "feel" for what is available to them.  To these people, I always ask this first question (after I confirm that they are not currently working with another Realtor):  "Have you spoken to a lender to find out the price range you should be considering?"  

Most people have no idea that this is critical when starting to shop for homes.  Talking with a lender first will tell a prospective buyer if they can even be considered for a mortgage.  If a buyer is not aware of their current credit score, they may not even qualify for a mortgage.  For these people, they need to clean up their credit before they can start the house hunting process. Once they know that their credit score is mortgage-worthy, the prospective buyer will then know what price range is reasonable for their search.  If they start looking at homes that are above their qualifications, they may be dissatisfied once they look at homes within their means. There is a significant difference between a $350,000 house and a $250,000 house!  Finally, the prospective buyers will know how much cash they may have to bring to the closing and can start saving for their down payment and closing costs.  So when thinking about buying a house, call a lender first.....Then call a seasoned Realtor!

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(c) Copyright 2012 Kathryn Maguire.  All rights reserved.

Kathryn Maguire, MBA, GRI, ABR, SFR, and e-Pro  

The Real Estate Group

Serving all of Hampton Roads, Virginia, including Chesapeake, Virginia Beach. Norfolk, Suffolk and Portsmouth

GreatChesapeakeHomes.com

GreatNorfolkHomes.com

GreatVABeachHomes.com

Kathryn@MyAgentKathryn.com

(757) 560-0881 (Cell)

(757) 410-8500 (Office)

(888) 696-2613 (Fax)

 

2 Comments on Putting First Things First

MAY
21
2010
532,155 Points 45 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Lookin better and better Kathryn. Great content, great visuals, I know I'll be a regular to your blog. Have a great weekend
9:52am • #1
275,890 Points 17 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Thank you so much!  I am really getting into it and have learned so much. I now rank #8 in Chesapeake and 294 in Virginia.  Every day I get a little closer to my goal.  I am on a mission and I thank you so much for your help at the earliest stage of my journey!
10:00am • #2


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Kathryn Maguire Serving Chesapeake, Norfolk, VA Beach

Chesapeake, VA

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GreatNorfolkHomes.com (757) 560-0881

Address: 1112-F Eden Way N, Chesapeake, VA, 23320

Office Phone: (757) 410-8500

Cell Phone: (757) 560-0881

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