FAQ ~ Should I Find a Good Real Estate Agent or Talk to a Bank First?

By
Real Estate Broker/Owner with MoonDancer Realty, Dillsboro,NC NC# 218097
 

“Should I find a good real estate agent first or talk to a bank first?”. If you knowFAQ enough to do a little research about buying a house first, most professionals will suggest you talk to a variety of lenders before beginning your search. That would be us…the professionals. If you didn’t know to talk to a lender first, not to worry. We’ll provide that advice.

No one goes to the grocery store without knowing how to pay for their purchase? Buying a house is just like that but on steroids. Without knowing what price range and payments to expect, you and your agent will be shooting in the dark and wasting precious energy and time.

You can call a variety of services, your personal bank, savings banks, credit unions, mortgage companies or even online lending institutions provided you are in contact with a real person, not just filling in their online calculators. Whatever method you choose, you need to be able to ask questions. Making that phone call does not commit you to that particular lender. BE HONEST in that initial conversation. You can run but you cannot hide from your credit blunders and issues. If the lender knows firsthand from you any difficulties you’ve had with your credit in the past, then there is a chance they’ll know how to work around those issues. If you aren’t above board and honest then you are in danger of wasting everyone’s, including your own precious energy and time. In my opinion, if you aren’t honest at this stage…kharma takes over. Usually you find the perfect house in the perfect place with perfect monthly payments only to have it yanked from you because when that 120 day past due bill you thought no one would ever find...shows up. Never mess with kharma!

How do you know which lenders to talk to? Start with your own bank. Talk to friends and family with home loans, find out if they are happy with their lender. Google home loans in your specific town. Most buyers are most comfortable when they can establish a relationship with a convenient source.

If you end up choosing a real estate agent first, like us…the professionals, we have a list of lenders our clients have worked with and reported back to us with glowing recommendations.

In fact, let me share the list with you now:

Talk to a LenderKaren Cioce-Cagle, Champion Credit Union - 828-400-1482,kcioce-cagle@championcu.com

 

Talk to a LenderBrenda Patterson, United Community, Bryson City -

 

Talk to a LenderGene Mundt, Federal Savings Bank, Chicago, 815-277-4036,

 

Talk to a LenderJason Chambers, Old Town Bank, Waynesville - 828-713-5478,

 

Talk to a LenderLatisha Perkins, SunTrust Mortgage, Waynesville,

 

Talk to a LenderLisha Shular, Macon Bank, Sylva,

 
Talk to a Lender

State Employee Credit Union, Sylva,

 
 
Talk to a LenderLeah Tove, Envoy Mortgage, Weaverville, 828-299-2085,
 
 
 

“Should you find a good real estate agent first or talk to a bank first?” If you found this blog, you’ve got the first answer. I’ve given you a list of lenders. Go ahead, make the call…I’ll wait!

 

 

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 Working With Real Estate Agents Disclosure | www.MoonDancerRealty.comQ and A Home Inspections

 

 

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MoonDancer Realty Team Photo Collage copyright 2012 Mona Gersky

 

 

Unless noted otherwise, all photographs & content are my own and will only be shared with the courtesy of a written request for permission. 

 

 

   

Tree Dude Border 1 copyright 2012 Mona Gersky

Tree Dude Border 2 copyright 2012 Mona Gersky

 

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Rainmaker
2,346,102
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

You won't get too far if you put the cart before the horse...........great blog Mona.

Jun 01, 2012 09:49 PM #1
Rainer
214,007
Richard Burge Realty/ Burge Homes
Richard Burge Realty/Burge Homes - Conway, SC
Broker in Charge/Owner

I ask everyone who wants to buy a property if they have been to a lender yet.  If not before I ride around showing property I get a quick score from a lender.  No credit .... sorry Charlie....  

 

Great post...

Jun 01, 2012 09:55 PM #2
Ambassador
413,797
Emily Medvec Qualifying Broker
Hello Realty - Santa Fe, NM
Realtor | Serving Santa Fe & Northern NM

Excellent reminder about what to do first. Find out what your buying power is first and avoid disappointment.

Jun 01, 2012 09:59 PM #3
Ambassador
642,949
Mona Gersky
MoonDancer Realty, Dillsboro,NC - Sylva, NC
GRI,IMSD-Taking the mystery out of real estate.

Roger, if you walk behind the horse...you step in it. lolololololol....I slay me sometimes.  Feel free to use this in a fortune cookie at your next function.  ;-DDDD

Richard, it only makes sense.  If someone is serious about purchasing then there should be no problem.

Emily, knowledge is power and comfort.  Nothing worse than being disappointed because you did it to yourself by not talking to the lender.

Jun 01, 2012 10:07 PM #4
Rainer
374,921
Edward Gilmartin
CRE - Boston, MA

It is best to start the process with a real estate agent...get an idea of what is out there. Often times he or she can direct you to a lender that is a good fit with your situation.

Jun 01, 2012 10:22 PM #5
Rainmaker
3,631,608
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning again Mona. Boy to think I knew you when you started blogging and now you are a super star. This is so well written. Great job.

Jun 01, 2012 10:41 PM #6
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642,949
Mona Gersky
MoonDancer Realty, Dillsboro,NC - Sylva, NC
GRI,IMSD-Taking the mystery out of real estate.

Good morning Edward, thank you for your comment.  I agree with you.  I just want the buyers to know how we will start the process with them and that will involve them talking with a lender.

Thank you Sheila, we are part of the mutual admiration society, ;-D

Jun 01, 2012 10:57 PM #7
Rainmaker
535,255
Gay E. Rosen
Julia B. Fee Sotheby's International Realty - Larchmont, NY
As Real as Real Estate Gets!

Mona: Great post... I on a certain web site and they like you to first meet with the buyers.. and then go from there... so I find myself giving that courtesy and meeting first with the buyers, chatting with them in person, and then requesting that they get their pre-approval...  do my detriment..  I could save many hours by not being so courteous! I have found that the time you give people isn't viewed by them in the same manner it is offered.. They think we have nothing but time on our hands... not that we are establishing a relationship. SO, what I am saying is at the end of the day... pre-approvals are very improtant.. and we should not meet with anyone until they have one...

Jun 02, 2012 01:53 AM #8
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Mona Gersky
MoonDancer Realty, Dillsboro,NC - Sylva, NC
GRI,IMSD-Taking the mystery out of real estate.

Gay, thanks.  It does seem like 80% of the time, if we don't get the buyer pre-qualified first...we've wasted time.  Anyone serious about buying a house will talk to the lender first.

Jun 02, 2012 02:59 AM #9
Rainmaker
1,560,731
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

At least this isn't the which comes first, the chicken of the egg?  LOL   A buyer can get a good idea very quickly these days on their ability to purchase.  Talking to a good loan officer and a good agent can be done simultaneously, but it's always best to have the pre-approval printed out!!

Jun 02, 2012 04:55 AM #10
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Mona Gersky
MoonDancer Realty, Dillsboro,NC - Sylva, NC
GRI,IMSD-Taking the mystery out of real estate.

Carla, there is no excuse to not get pre-qualified.  It's quick and free...and saves a whole lot of heartache and headache!

Jun 02, 2012 09:14 AM #11
Rainmaker
670,482
Patty Da Silva, Davie, Southwest Ranches Cooper City, Plantation, Weston, REALTOR
BROKER of Green Realty Properties® - 954-667-7253 - Davie, FL
Top Listing Broker

Hello Mona,

Getting a real pre-approval before starting to see homes is so important... we advise buyers to get preapproved with a local direct lender as they are faster, more accessible and often cheaper.

Jun 02, 2012 10:30 AM #12
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642,949
Mona Gersky
MoonDancer Realty, Dillsboro,NC - Sylva, NC
GRI,IMSD-Taking the mystery out of real estate.

Patty, you make a good point about accessibility.  It is always helpful when the real estate agent can speak directly to the Loan Originator as issues develop.

Jun 02, 2012 12:11 PM #13
Rainmaker
755,382
Jill Sackler
Charles Rutenberg Realty Inc. 516-575-7500 - Long Beach, NY
LI South Shore Real Estate - Broker Associate

Good one. Suggested. I like your "never mess with kharma" line.

Jun 02, 2012 12:17 PM #14
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Mona Gersky
MoonDancer Realty, Dillsboro,NC - Sylva, NC
GRI,IMSD-Taking the mystery out of real estate.

Jill, and yet people continue to mess with kharma!  I never get that.  That's just like thwarting the Golden Rule, you know there will be consequences.

Jun 02, 2012 08:37 PM #15
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GRI,IMSD-Taking the mystery out of real estate.
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