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No I Can't Let You View the Property Today Unless You've Been Pre-Approved

By
Real Estate Agent

No I Can't Let You View the Property Today Unless You've Been Pre-Approved

Why?  Because part of my job is to ensure for the seller that everyone that looking at their property is qualified to buy it.  I don't want to waste their time, or mine.

 

No I Can't Let You View the Property Today Unless You've Been Pre-Approved

I've recently gotten a rash of calls from buyers, particularly on my most recent listing, calling up wanting to know if they can view the home TODAY!  No.  Well then, how soon can I look at?  Well, have you spoken with a lender yet about financing?  No, okay, I'll be happy to provide you with some phone numbers, but we need a pre-approval letter before I can show you the home.

Some buyers understand this, but others...well, maybe the others simply don't watch the news, and know how difficult financing is to obtain these day.

One buyer called up wanting to see a home.  When I asked her about financing, she replied that she was just planning on looking at some houses before she bothered with finding financing.  Great, but how will you know what you can afford (ie, what the lender will actually loan you) if you haven't spoken with one, yet?  She got it.

Another buyer recently called up with the "I've got to look at it TODAY!" call.  Have you spoken with a lender about financing?  Financing will NOT be a problem.  GREAT!  Let me know when you have the pre-approval letter and I'll be happy to show you the home.  He hung up on me.

So, was that a legitimate buyer, a looky-loo, or a thief trying to case the house out?  The world may never know.

How about you?  Do you let people in houses that you have met, don't have a relationship, and who hasn't spoken with a lender yet about financing?

Are you a buyer interested in getting in a new home today?  I've got several quality lenders available to speak with you about your financing needs.  Just give me a call and we can start the process today!  It's important to know where you stand in your lending needs before you start house shopping.  You don't want to find your dream home, only to have it slip away because of a lack of financing.

photo courtesy of gruntzooki

Posted by

__________________________________________

Hickory Home SearchForeclosure Hunter

 

Roger Johnson is a Realtor with CENTURY 21 American Homes in Hickory, NC.

 

I service the Catawba and surrounding counties, and the Hickory, Newton, Conover, Taylorsville, Claremont, Statesville and Charlotte, NC real estate markets.

Visit us on the web at: www.HickoryNCHomes.com

You can contact me via Email or give me a call at 828-381-9245 or 828-568-2121 ext 310

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Comments (11)

Kathy Torline
ERA Herman Group Real Estate - Colorado Springs, CO
Colorado Springs Real Estate Blog 719-287-1049

Financing is more important now than ever; it's an education process to explain it to potential buyers.  Thanks for sharing!

Oct 25, 2010 02:00 AM
John Combs
Alan Deblat Real Estate Corp. - Oceanside, NY

Asking about pre-approval for financing is one of my first questions to all buyers. Showing buyers properties before they are pre-approved is not helping anyone including the buyer.

Oct 25, 2010 02:00 AM
Roger Johnson
Hickory, NC

You got that right, Kathy!  Financing is THE Key, today.

Right, John.  Now, just getting some buyers to understand that :)

Oct 25, 2010 02:03 AM
Rodney Mason, VP of Mtg Lending
Guaranteed Rate NMLS# 2611 - Atlanta, GA
AL,AR,CA,CO,FL,GA,IN,MI,MS,NC,SC,TN,TX,VA

Great stance on this.  Sometimes, its the "Financing won't be a problem" buyer that actually end up having the most trouble.  Many are completely out of touch with today's lending environment.

Oct 25, 2010 02:53 AM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

I always ask for the pre-approval first.  It makes sense to ask for it in this market since you need to put the pre-approval with any short sale offer or foreclosure, so I tell potential buyers that they have to be ready in case they find a house right away.  This usally is all I have to say, and they email the pre-approval to me so I can start showing them houses.

Oct 25, 2010 03:19 AM
Brian Bean
The Dream Big Team at Better Homes and Gardens Real Estate Champions - Riverside, CA
Homeowner Advocate, Dream Big Team, S.Calif

Most people don't understand how the real estate industry works, but after we explain it, most seem to get it. The ones who don't, it's better if I refer them to find another agent anyway.

Oct 25, 2010 03:30 AM
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Some Buyers simply refuse to accept the fact that they must be pre-qualified to even start looking at houses, after all, how would anyone know the price range they should be staying in?  Some lookers just say they are "Cash Buyers" OK, then just get a letter from your bank with proof of funds. They then just go away..no mystery there..they were just LOOKERS!! Unfortunately despite of what we know, many Realtors continue to take these buyers out with hopes that one day they will buy a house. They must have lots of time to waste chasing after lookers!!

Thanks for your post.

Oct 25, 2010 04:45 AM
Roger Johnson
Hickory, NC

Financing won't be a problem, Rodney...We can't get any! :)

A pre-approval works, Stella, because it also makes sure that we're showing houses in the right price range, as well.  Thanks.

 

Oct 25, 2010 04:53 AM
Roger Johnson
Hickory, NC

The problem with referring them out, Brian, is that they're still going to need a pre-approval before showing my listings! :)

Beth, I can't drive around lookers.  My time and gas today are too expensive for that!

Oct 25, 2010 05:03 AM
Team Honeycutt
Allen Tate - Concord, NC

I agree with you completely! It is not fair to ask sellers to clean up, pack up the kids, find something to do for a couple of hours for a person who may not be able to buy. If a buyer is serious, they will have a preapproval.

Oct 25, 2010 06:30 AM
Roger Johnson
Hickory, NC

If a buyer is serious...That says a lot right there.

Oct 25, 2010 08:36 AM