WHY should I get Pre-qualified? I have not found a home yet

Reblogger John McCormack, CRS
Real Estate Agent with Albuquerque Homes Realty 16572

Scott Godzyk brings us some great information on getting prequalified before you find your dream home.  It can make all the difference in starting off to a smooth real estate transaction or a rough ride.  Please leave your comment on Scott's post.  He will appreciate hearing from you.

Original content by Scott Godzyk NH License 033394

With an increase in Buyers looking to purchase Homes in the Manchester NH area comes in increase in questions. When a Buyer yesterday working with another Buyer Agent argued that they should not have to meet with a Loan Officer yet as they had not had an offer accepted yet, it leads me to believe they are not being guided properly. They soon learned they could not even submit an offer without a pre-qualification letter. Early last night came a call and an apology. This Buyer was so firm in their beliefs because they chose an agent who was not providing any assistance in the buying process and were literally on their own in the buying process. 

Their agent was not providing guidance. Did not get them pre-qualified and did not even tell them what the proper process is and why. Come to find out the Buyer drives back by my listing, stops and talks to the seller who is outside and got a real quick lesson in reality,

The Seller informed them why they would not even look at an offer without a pre-qualification letter and also let them know what services i was providing to them as they shop for their new home which will be purchased when this home sells.

The Buyer acknowledged that they were wrong and should have done a better job in hiring an agent.  As they floundered with their agent, the home they wanted went under contract. 

It is an important lesson for BUYERS to know that the FIRST THING for anyone Looking to BUY A HOME should be to get pre-qualified by meeting with a LOCAL and TRUSTED LOAN OFFICER. The process is usually at no cost and can easily tell you what mortgage programs may be available for you and what you can afford.

The next and perhaps the most important part is by hiring a Buyer Broker who will provide guidance through each step of the buying process. The key is identifying homes when they come on the market, see them quickly and make a good offer the first time. Know that All agents are not created equal. You have a choice and making a good choice equals a good home buying experience.

Please review my Tips and Advice in helping you to get your Dream Home

1. CHOOSING THE RIGHT BUYER BROKER: As a home Buyer in this market you need every advantage you can to get find, buy and close on your DREAM HOME. It starts with choosing the right agent.

a. Using a Full time agent whose sole job is in Real Estate.

b. Using a Full service agent who will guide you through each step of the BUYING process. Discount brokers often equal discount services.

c. Using a Local agent who knows your neighborhood and is readily available when you need them is a must. Out of town agents can leave you high and dry in your time of need.

d. Using a well experienced Buyer Agent can give you the advantages you need when Buying your home. Not all agents are created equal. Choose only the best..

2. GET PRE-QUALIFIED: Before even looking at a home you should get pre-approved for a loan. Few Sellers will look at your offer without it. Meet with a local and trusted mortgage broker, they can prequailify you at no cost, they will look at your credit plus your financials and let you know if there are any mortgages that you may qualify for. You should then tell them you are looking at bank owned homes so they can provide you with a list of what condition the property needs to be in for you to be able to get a mortgage.

3. STARTING YOUR HOME SEARCH: After you have found a full time local agent to work with, you got pre-qualified and now you have the price range you should be looking in. You should by now have decided what town/city you are interested in and what neighborhoods you like or do not like. 

a. Prepare a list of the towns/cities you like.
b. Prepare a list of any specific neighborhoods you want to move to.
c. Furnish your agent with a list of what condition you would like the house such as in new, good, average condition or can need work etc.
d. Furnish your agent any must have features such as a garage.

Once you get a list of the homes that meet your criteria, my suggestion is to drive by them before you go inside. Narrow down the list to go inside only the homes that meet your needs. 

My best tip is to act quickly when needed, area's such as Manchester are experiencing a decrease in listings and an increase of sales. Homes coming on the market are often out under contract very quickly.

4. MAKING AN OFFER: Now that you have found your dream Home, you are ready to make an offer. In a market such as ours with a decrease of homes on the market and an increase of sales, you want to make the best offer possible.

a. WHAT PRICE TO OFFER: You need to assess what the home is worth in todays market and subtract for any needed repairs. Never make an offer using a specific percentage off an asking price as the price may already be well below market value, at market value or priced way too high.

c. ARE THERE ANY OTHER OFFERS? if there are other offers submitted you may only have 1 shot to make your best offer to get this home.

d. CONTINGENCIES: Sellers hate offers with contingencies, strengthen your offer by only including a 7 day home inspection and a mortgage contingency.

As the market here in New Hampshire is stabilizing, the time for Low ball offers is over, your offer should be well written and to the point. Include a copy of your pre-qualification letter to let that seller know you are ready, willing and able to purchase.

LEARN How you can get FREE BUYER REPRESENTATION by contacting US Today.

IN CONCLUSION: There is a lot of behind the scenes work going on with the purchase of a home. If you did not notice most of these steps, I did a great job. With the decrease in Listings, there is pressure on Agents to provide more service. For agents who have been providing a great service to their clients throughout the last 4-5 years they are being rewarded as home sellers and buyers talk, they let each other know who did the great job or who dropped the ball. As you see it is no accident a home sells. It is through the hard work of the agent.

As a consumer you have a choice. Avoid the thinking that bigger is better. You deserve the Best and that is having some one guide you through each step of the Buying process. If you are looking to purchase a property in NH, you can choose ME. I strive to offer the best in personal and professional service through EACH step of the BUYING processIt does not take magic to turn your "For Sale" sign into a "Sold" sign. it takes a full time Local Agent who specializes in Listing homes like yours.

Please call for a FREE MARKET ANALYSIS to know what the value of your home is.


If you need to sell your home and you owe more than your house is worth, i may be able to help. I specialize in working with home owners to get your home sold. There are many options such as a short sale which may be able to help you.

Please try and avoid out of state or out of town agents and companies that make "out of this world promises". We are local agents with experience who never charge any up front fees.


We are local agents with experience who GET RESULTS!!!

We stand by you through every step in selling your home..



About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. With 27 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area. To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com . We are Full Time Agents ready to serve all of your Real Estate needs through each step of the buying and Selling process. We are proud to be locally owned and operated.

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