Shopping without the Funds - Really?
In the midst of the holiday shopping I wonder how many are dong their shopping without funds. Judi writes a compelling blog for home buyers to have their finances in order before they start shopping. Obtaining prequalifications on your home mortgage should be done as soon as one decides to pursue the purchase of a home. And during the holidays is always a good time to think about that new home.
Would you go grocery shopping if you didn't have any money?
I would feel so foolish if I went into the grocery store, got a shopping cart, and starting looking through the aisles... gathering up food that I like, for buying consideration if I didn't have any money.
Maybe I had brought a friend along that I was going to ask her if I could borrow some money to buy the groceries AFTER I had picked out what I wanted to buy...but I had not asked her yet if she would lend me any money and nor did I know that IF SHE SAID YES, how much she would lend me.Let's take this a step further... when I went into the store, I asked for the manager and asked him if he would walk around with me and explain to me the different types of food that he was offering for sale AND I told him that I did not have any money but was sure that my friend would lend me the amount I needed after I had chosen my basket of food.
Surely he would stop answering questions for the customers that he knew could pay for their food and would walk around with me, who has no money... explaining how the store is laid out and what the best buys were this week.
What do you think? Likely scenario?HA! That's what I thought.. I heard you say, "Inconceivable!"
Yet if you are expecting to home shop, you do not have your own funds to purchase, and you have not gotten at least pre-qualified and even better pre-approved for a loan..."This is exactly what you are doing on a different level."
Now can you understand why your real estate agent WHO REALLY WANTS TO HELP YOU AND REALLY WANTS YOU TO FIND YOUR PERFECT HOME, also wants you to get pre-approved for your loan BEFORE you go home hunting? AND before he/she spends the time home hunting for you and with you?
I thought so... SO GO TALK TO YOUR LENDER AND GET PRE-APPROVED! So you'll know how much you have at your disposal for a new home.Images courtesy of Bruce A Stockwell and Michael LeHet
Looking for a home for sale in Idabel, Oklahoma? Let me Google that for you.
Judi Barrett, B.S. Edu.,
Broker, Integrity Real Estate Services, Office Address: RR 5 BOX 126, IDABEL, OK 74745 580-212-5946
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