Given the current market conditions we made a decision a couple of years ago to focus on marketing foreclosures. When working with a buyer who wants to look at foreclosed properties, it is a requirement that they get pre-qualified for a loan with a local lender before making an offer. In order for the process to go smoothly we ask that they provide it up front, in the beginning.
All the marketing efforts we have been doing lately have started to bring in a good amount of buyers, many of whom are looking for fair market (non-foreclosure) properties. Since we know how quickly a well-priced home can go in today’s market, we now require that ALL buyers get prequalified for a loan before we start looking.
We have a great relationship with a local lender who can qualify a buyer in a matter of minutes over the phone or in the office. So, what happens when the buyer sitting in front of you says they don’t want to talk to a lender right now. I don’t know whether it’s because we’ve been so busy lately or if we’ve just wised up and become more selective. But, if a buyer is not willing to spend 15 minutes on the phone with a lender, I have to question if they are really interested in BUYING or if they just enjoy LOOKING.
So, Mr. and Mrs. Buyer please don’t be upset when I ask you to spend some time getting your ducks in a row. I promise you’ll thank me when we find the perfect home for you and the sellers accept YOUR offer because it’s accompanied by a letter that shows YOU really can BUY their home!
If you’re interested in learning more about foreclosed properties in this area, please give us a call and we will be happy to send you a FREE list!