This post was written by fellow blogger Paula McDonald. Its message is simple but so important to those entering the housing market. Before looking at new homes, buyers should talk with their trusted lender to see how much home they can afford. And if you have a home to sell before you can purchase another one, we can talk about the steps to make that happen.
Read Paula's article and let me know if you have questions about the Central MS real estate market.
Before You Show, Get Your Ducks in a Row
Many times, real estate agents are so eager to show a prospective buyer homes they don't take the necessary steps to have the client qualified and prepared to make an offer. In this day and age of impostors, scammers, and sometimes just uniformed buyers, Seller's more than ever are savvy when they are accepting offers. Therefore, it is imperative that real estate agents educate their buyers BEFORE showing property.
If you are a prospective buyer, please do not be offended when your agent asks you for your Pre-Qualification letter, proof of funds, etc. In order to properly represent you on a potential sale, having your ducks in a row as a buyer can help you successfully navigate the negotiation waters. The more prepared you are up-front, the better you look as a buyer.
Here are a few tips for having your ducks in a row before looking for a home:
- Have your financing situation decided on. Reach out to a local lender whom you can actually speak with personally when you need to.
- Know what you can qualify for, how much you need to put down, and have this Pre-Qualification letter in a PDF format to send to your agent when needed.
- If you are a cash buyer, have your bank draft a Proof of Funds Letter also in a PDF format.
- If you have a current home that you need to sell, seek out the advice of a professional real estate agent who knows your market, knows how to properly market a home to sell, and get your home listed.
- Looking for homes prior to listing your current home can often lead to heartache if you find that perfect home and you are not ready to buy!
- If listing your home, make sure you make the necessary repairs, painting, and clean up that will help your home be shown in the very best way.
Taking these steps above will greatly assist you with your home buying efforts. A good agent will assist you in getting your ducks in a row. When you are then ready to make an offer, you will be able to present a solid offer as a qualified buyer.
In a busy Spring market when the competition to buy increases, the buyer who is ready to go and prepared will stand out in a multiple-offer situation. Ready to buy? Call your real estate agent today and get those ducks in a row!