Frisco Texas Real Estate, as well as most anywhere else is an interesting conundrum. When people want to buy a home, most people think you should first talk to a Realtor®, which I think is a good idea. However, most professional agents are going to ask you if you have been pre-approved. We are going to push you to speak to a lender and we will recommend one or more.
Get a Recommendation From Your Realtor
You may want to use your own or work with a lender recommended by the agent. You may want to consider this recommendation as the agent's job is to help you close on the home you want to buy. Preferred lenders have shown that they get the job done, they get it done well and most importantly they get it done on time.
Set Your Budget
I still hear customers saying, "I know I can get approved, why do I need to see a lender before I find the home I want?" Quick what is the first thing you think about when buying a home? That's right—how much does it cost. How will you or your agent know you are being shown the right homes if you do not know what you can afford?
Professional Realtors do not make any money unless the transaction closes. If we waste your time and ours showing you homes you cannot afford, you will get upset. When you see something in a home and you fall in love with that feature and then find out you can't get it in homes you can afford, who are you going to blame? That's right me. Let's get off on the right track and show you homes that make sense financially, physically and emotionally.
Make a Stronger Offer
What is the first thing a seller is going to ask about your offer? Can they get the funding. If you can't get funding you can't close. Nothing changes if you can't close. You do not get your home and the seller cannot sell their home. Again, what happens if we submit an offer without a pre-approval letter? Most likely a good selling agent will show your offer but also recommend nothing on your offer until they see that you have some chance of funding.
The next time you start to look for a home do yourself a favor—get pre-approved. This sets your budget for you to properly search fo your next home. It also allows your agent to present a stronger offer to secure your next home. When you decide that Frisco or anywhere in the DFW Metroplex is the location for your next home, come see me. I will recommend lenders and more importantly you will find out what my other clients have found out—Your Success is My Focus.