Why Getting Preapproved Is Critical

By
Real Estate Agent with RE/MAX Elite 513.520.5305 www.LizTour.com SAL.2002007747

You may think a real estate agent is just being nosy when they ask "Are you preapproved?".

But we ask because there's a mutual win-win involved in that question.

It helps you AND it helps the agent to know that you've been through the preapproval process with a reputable loan officer.

If you've taken that step it establishes a few things:

1.  You're serious about buying a home

2.  We know your comfortable limit AND what we need to ask for as part of the purchase offer when we find the right home.

The mortgage pro is going to establish a few key parameters:

  • The type of loan
  • How much you can borrow
  • The terms of the loan (percent down, length, etc.)
  • Whether the buyer needs closing cost assistance and if so, how much

Knowing those key terms helps me as an agent better serve my clients because:

  • I won't be taking the buyer to communities the loan doesn't fit (e.g. need an FHA loan and the condo association isn't FHA certified)
  • I don't "tease" the buyer with homes above their price point
  • We know whether or not the buyer has to sell their current home to buy

It's always good to know as a buyer what you can and can't do.

Want to discuss further?  Just reach out at 513-520-5305 or email Liz@LizSpear.com.

Serving Greater Cincinnati home buyers and sellers,

Bill & Liz aka BLiz

Posted by

Serving Warren County Ohio & Adjacent Areas

 

The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

Search Homes:  Https://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

 FacebooktwitterWordpressYouTube Pinterest

 

 

 

 

OUR SERVICE AREA:


View Liz Spear Team of RE/MAX Elite Primary Service Area in a larger map

close

Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. 1~Judi Barrett 09/11/2019 06:59 PM
Topic:
Home Buying
Location:
Ohio
Tags:
preapproval

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
2,297,713
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

I love the way this is presented, in that logical click click click mode.  I want to re-blog this one.. will wait a few days from now. 

Sep 09, 2019 06:49 PM #1
Rainmaker
2,762,668
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I’ve heard many people have mixed feelings about this but I think you’re totally right in this particular circumstance.

Sep 09, 2019 07:12 PM #2
Ambassador
2,035,865
Michelle Carr Crowe,Altas Just Call...408-252-8900!
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Hi there, 

I agree, it is important for buyers to be pre-approved.

Sep 09, 2019 08:07 PM #3
Rainmaker
3,276,225
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Spear Team. Knowing what you have to work with saves everyone time. Enjoy your day!

Sep 10, 2019 05:26 AM #4
Rainmaker
3,335,147
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Liz and Bill - for some there may be a "nosy" factor involved but there is a good reason for understanding the mortgage approval status for buyers and for real estate professionals.  Things in a natural progression...baby steps....first thiings first...

Sep 10, 2019 06:32 AM #5
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
2,693,234

Liz and Bill Spear

RE/MAX Elite Warren County OH (Cincinnati/Dayton)
How Can We Help You? Just Let Us Know!
*
*
*
*
Spam prevention

Additional Information