If REALTOR(S) tell you they won't show you homes before you get pre-approved for a loan by a lender, they have a very good reason.
WHY IS THAT, YOU ASK?
Because in this market of tight inventory, to make an offer without that pre-approval letter is useless. Sellers and their listing agents need it in order to accept YOUR offer and take the property off the market.
WHY WOULD THEY NOT ACCEPT MY OFFER, YOU ASK?
If they accepted your offer and thereby miss out on other buyers who ARE pre-approved and are able to close earlier, it will cost the seller extra on mortgages, taxes, insurances, utilities, etc. during that time.
PLUS THE SELLER HAS NO GUARANTEE THAT YOU WILL GET THE LOAN
When I write an offer on behalf of a buyer, I always leave the loan contingency in "until funded". That means if it takes 3 months for you to get approved OR NOT, the seller is on the hook.
OR YOU MAY GET PRE-APPROVED FOR LESS THAN THE ASKING PRICE
You may get your pre-approval, but it may not be for enough to purchase the home you have an accepted offer on. In that case, either the seller will lower his price (GOOD LUCK WITH THAT) or you get out of your contract. Neither case is a win-win for either of you!!!
HOW DO I GET PRE-APPROVED?
Go to your lender of choice, or call me and I can give you a list of local lenders.
AND WHEN YOU GET THAT PRE-APPROVAL, START LOOKING FOR A HOME IN YOUR PRICE RANGE IN CRESCENT CITY, DEL NORTE COUNTY, CALIFORNIA:
And if you have questions about your searches and on the buying process, please call me.
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