Tredyffrin Easttown Real Estate - FAQ Why do I need a pre-approval?

By
Real Estate Agent with Long & Foster Real Estate Inc 610-225-7400 PA License - AB067198

In this series we are answering frequently posed Tredyffrin Easttown real estate questions.

We get many inquiries to show homes and buyers often balk when we ask them if they are pre-approved for a mortgage and if so how much. This video answers this question. Let me know if you have a real estate question, you can email me a t Nick@VandekarTeam.com. In the meantime subscribe to our blog and to our channel on YouTube so you don't miss any of this series.

 

Points from the video:

  • Put your self in the sellers shoes, you are asking them to vacate their home, often with kids or babies and at short notice, don't you think it reasonable they want to know you can actually buy the house.
  • The Tredyffrin Easttown Real Estate market is pretty hot right now and many homes are selling with multiple offers. Having a pre-approval ready helps you to be ready to craft an offer and not be rushing to find a mortgage provider who can provide one often in the evening.
  • You don't want to be looking at homes you cannot afford or be looking at homes below what you can afford.

We get it, you just want to buy a house, but you need to be prepared, and meeting with an experienced Realtor who understands the market and after sitting and talking with you what it is you want to buy can save you a lot of time and trouble in the search process.

If you want to live in Tredyffrin Easttown, or have a home to sell and want to know those looking at your home are able to afford it,  contact us today and let us put our energy and marketing strategies to work for you.

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If you are buying or selling on or around Tredyffrin Easttown or along the Main Line we can help you,  contact us or connect

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Feel free to subscribe to our blog to stay up to date with our latest posts and information on the Tredyffrin Easttown and Main Line Real Estate Market. 

 

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Rainmaker
1,416,463
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hello Nick and Trudy, looking at homes without a pre-approval is not different than going food shopping, filling up the cart with no wallet/no cash. It's a must.

Feb 23, 2017 09:23 AM #1
Rainmaker
946,614
Beth and Richard Witt
Long Island Cash Home Buyer - Huntington, NY
Long Island Cash Home Buyer 516-330-6940

i AM ALWAYS AMAZED AT THE AGENTS THAT SHOW A BUYER A HOME WITHOUT A PRE-APPROVAL... A potential waste of time for all parties...

Feb 23, 2017 09:39 AM #2
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Nick and Trudy 

It's such an important issue that we have to keep reminding buyers about. There is such a good rationale for getting pre-approved and hopefully many will read this, understand, and take action.

Jeff

Feb 23, 2017 10:35 AM #3
Rainmaker
670,866
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Beth Atalay thanks totally agree, you cannot go shopping without a wallet.

Richard and Beth Witt I understand it because there are too many agents, and the consumer thinks they have nothing better to do than open a door for them because all they want to do is buy a house. Understanding the process and making sure the buyer has everything in place is part of theprocess.

Jeff Dowler it is all about educating the buyer so they understand the process and know what to expect.

Feb 23, 2017 11:58 AM #4
Rainmaker
1,139,732
Jane Peters
Home Jane Realty - Los Angeles, CA
Connecting you to the L.A. real estate market

It really is to the benefit of the buyer to get that pre-approval. It prevents needless disappointment and frustration.

Feb 23, 2017 01:06 PM #5
Rainmaker
670,866
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Jane Peters totally agree.

Feb 23, 2017 01:08 PM #6
Rainmaker
2,402,560
Rebecca Gaujot, Realtor®
Vision Quest Realty, Martha Hilton, Broker - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Nick and Trudy, pre-approval is a must and prevents wasting the buyers and agent's time.

Feb 23, 2017 08:52 PM #7
Rainer
123,813
Shahar Hillel
Augusta Financial Inc. - Stevenson Ranch, CA
Mortgage Consultant, Loan Officer.

Very good points clarifying the need to be pre-approved.

Feb 23, 2017 10:30 PM #8
Rainmaker
4,526,599
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Nick and Trudy.  This is solid information for all buyers that plan on getting financing.

Feb 24, 2017 04:35 AM #9
Rainmaker
670,866
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Rebecca Gaujot even with a pre-approval some buyers do not realize what the payments will be, it is only as you educate them that they realize thatmaybe they want to buy something a little lower in price so as not to affect their lifestyle.

Shahar Hillel thanks for stopping by, I understand they just want to buy a house and to do that they want to see houses, but they also have to realize they need to do it efficiently and not miss the one when they do find it because they have not gone through the steps of preparation.

Gabe Saunders thanks for your comment, we are trying to make sure Tredyffrin Easttown buyers are educated and know the process.

Feb 24, 2017 05:43 AM #10
Rainmaker
647,837
Keith Landis
Keystone Home Finance - NMLS#834342 - Conventional - FHA - VA -USDA - Jumbo Programs - Direct Phone 412-726-1654 - Pittsburgh, PA
Pennsylvania - "Your Pennsylvania Mortgage Source"

Obtaining a Pre-Approval is a must.  Even buyers who have always had perfect credit sometimes encounter an unexpected glitch or error on their credit report.  Obtaining a Pre-Approval prior to finding a home allows the lender and the buyer to correct any glitches.

Feb 24, 2017 10:52 AM #11
Ambassador
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Nick & Trudy Vandekar  i like Beth Atalay answer it is like going shopping without money better yet it is like checking out without  money  ... You cannot shop for house without  being qualified first 

Feb 24, 2017 04:37 PM #12
Rainmaker
4,852,681
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

This is good information to share.

Have a wonderful weekend. Enjoy the beautiful weather.

Feb 25, 2017 05:11 AM #13
Rainmaker
670,866
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Keith Landis good advice thanks for the comment

Hannah Williams I agree that was a good analogy

Roy Kelley you too thanks for stopping by.

Feb 25, 2017 02:24 PM #14
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Rainmaker
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Nick & Trudy Vandekar, 610-203-4543

Tredyffrin Easttown Realtors, Philly Main Line
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