Thanks for your comment, Kathy. I think the more we expect it of them, the more it will happen. They like it when I tell them that getting it done before the search will help to them have a faster closing.
Excellent tips, Jean. Thank you so much. I'm going to utilize this list when my next buyer comes along. It will definitely give them an idea of what will be required by their lender in order to purchase a house. Hopefully, it will save us all a lot of time and effort. Great post!
Hi Jean, there is nothing bewtter then to be prepared. Great advice to make it easier on the loan process. I am programmed to ask a prospective buyer "are you pre-qualified".
Christi - Hopefully doing it up front will save lots of hassle. Thanks for your great feedback!
Noah - It's surprising how many buyers "think" they're qualified. I had someone last night who told me they are, and when I asked if their mortgage broker had seen their tax returns, she said no. Another case of the letter not being worth the paper it's written on.
Thanks, Gita. If everyone would do this up front, it would save so much hassle and heartache. We've probably all had what we thought was a good contract with a good pre approval letter, only to have it fall apart in the first few days. It seems like a lot of work for them at first, but once they understand, they like the idea that they can have a much faster closing. Thanks for commenting.
I only wish more folks thinking of buying would start this process first before looking for homes. We know most start looking on line and while that is fun, it would be so much better if they were only looking at homes that they qualify for.