Tips for being THE buyer that gets the home!

Real Estate Agent with Windermere

While I am not a lender, part of my job as your Real Estate agent is making the home buying process as easy and trouble free as possible.

Nothing is more important for a home buyer than finding out how much you can spend, and just as important, how much you WANT to spend when you start your search for your new home.

your money!

The local Real Estate market here in Bellingham Washington has leveled out in terms of buyer/seller leverage. It has been a buyers market for some time, and still seems to be at the high end of the market. But at the entry level price point, and the mid level price point, there is lots of activity and it is very important to make sure all your "ducks" are in a row when you find that house you love!

Here are a few tips:

1) Its very important to start with a reputable lender! Ask friends or co workers you trust who they  recommend. Then do your own research!

2) Definitely shop around. After you have found a few lenders you feel you can work with, it will be simple to get their interest rates off web sites or a quick phone call. It will take just a short conversation to find out how much you will be qualified for. And they should be able to guarantee closing costs and closing dates also.

3) Be ready to provide paperwork the lender will need to qualify you after you have chosen who you want work with. This will usually include things like your last two W-2 forms, a couple recent pay stubs and bank statements. Remember that the bank will run a credit check on you, so ask them if it will hurt your rating when they do check.

4) Get pre-approved! The lender should be able to get you your pre approval amount within a day after they receive all your paperwork. Ask them how long the pre-approval will be good for too!

5) Remember to keep on top of them regarding deadlines like appraisals, loan documents etc.

Remember, this will help you stay ahead of the game if you are competing against another buyer for the same home! If you want to be THE buyer instead of the OTHER buyer, be prepared.

It is my job to help you be as prepared as possible. If it comes to financing or inspections or negotiation on price!

Patrick Johnson, ABR E-pro

Windermere RE

Bellingham Washington


Comments (7)

Bernice Dubon
RE/MAX First 403-607-9117 - Calgary, AB
Calgary Alberta Realtor

Great Tips Patrick.  I also feel that it's very important that buyers know their numbers.... Know what you'll be paying,when, and how often, so nothing comes as a surprise.

Bernice Dubon in Calgary Alberta, Royal LePage Solutions


Oct 15, 2009 06:27 AM
Patrick Johnson
Windermere - Bellingham, WA

Thanks Bernice! I agree with you regarding how many points etc. you will be paying. I just wanted to lay down the basics that buyers will need to be prepared.

Take care,

Patrick Johnson, ABR E-pro

Windermere RE, Bellingham Washington

Oct 15, 2009 06:49 AM
Douglas Fischer
East Oahu Realty - Selling Honolulu, Hawaii Condos - Honolulu, HI

Good tips.  And, if you don't have this kind of conversation with your buyers, who will?

Oct 15, 2009 07:03 AM
michelangelo vasco
mvp realty inc. - Manhattan, NY

very good points for the buyer to be prepared and know ahead of time where they stand loan wise

Oct 15, 2009 07:07 AM
Lisa Matykiewicz
United Brokers Group - Gilbert, AZ

Great list Patrick!  This is very similar to the list I provide my clients as well.

Oct 15, 2009 07:17 AM
Claude Cross
Homes By Cross, Inc. - Charlotte, NC
Charlotte NC Homes For Sale

Sounds like a fine road map to home ownership. Helping clients from becomming mortgage poor is indeed a worthy role. Best of luck in your market

Oct 15, 2009 07:51 AM
Charles Perkins
Charles G. Perkins, CPA - Burien, WA

Excellant advice.  Knowing how much you can borrow and how much house you can afford are very important. 

Nov 09, 2009 07:35 AM