Much better than Pre-Qualified. Pre-approved means that you, as the buyer, are fully approved as to credit, income, and assets. All that’s required for full approval are, mainly, a fully executed purchase contract, acceptable title and appraisal. Being pre-approved will tell us the amount and kind of financing you qualify for. FHA, VA, and conventional financing each require different minimum credit scores, down payments, and, of course, for VA, being a qualifying veteran. Figuring out which works for you is important; some condo projects, for example, won’t accept or aren’t approved for FHA and/or VA. Also, each of these can cover some closing costs, some more than others. Covering your own closing costs makes your offer stronger in a bidding war. I’ve been doing loans for over 30 years. See our MORTGAGE PAGE for particulars. Most real estate transactions fall apart because the lender can’t perform. This just doesn’t have to happen.
Buying a home can be overwhelming. But, like anything else, it’s a process. It starts with how much you qualify for. For many first timers, what they qualify for scares them to death. It’s way too high!!
- I can help you find homes that are a little smaller, renovated 10-15 years ago rather than new or just redone, or a little farther away to get that payment where you need it.
- We’ll find that sweet spot, to give you the confidence that you’re doing the right thing.
The important thing is to understand the process, so you can proceed with clarity.
Having to sell to buy is complicated, but not impossible. Contingent offers work in some instances, but not well in bidding wars. Getting buyers to let you rent back is better. Each require special handling. I can help you. Either way, you need to get pre-approved to get some perspective and a game plan.
If the kids are gone and you want to downsize, and/or, if you’re ready to retire, you’re probably having to sell to buy. You’re in a much stronger position than if you’re trading up, for your down payment is typically much bigger, or it’s all cash; either way, your offer is stronger. Some retirees can buy with a reverse mortgage. Others may need traditional financing. It sounds complicated, but it doesn’t have to be.
Get some perspective and a game plan!
Decide on the areas and zip codes you want to consider. I want to discuss this with you. Where you work. Other places of interest may affect where you want to live. Get to know what you’re looking for. I set up an interactive search for you, enabling either of us to change the parameters, or to set up a new search. These searches in the MLS (Multiple Listing Service) are better than Redfin, Realtor.com, Trulia, and others, for the MLS updates the second something happens, and doesn’t include listings that aren’t for sale anymore; others almost always do. You can also do MLS searches on my website at any time. It is a search experience that is truly exceptional, and you can save the search! Try It!
As listings you like show up, it is imperative that you contact me to see them ASAP, for the good ones go fast. I am almost always available. It’s important that you see properties; it helps you to reorder your bucket list to what’s truly important, whether it be amenities, attached garage, proximity to work, whatever. Learn your market. Make a confident, informed choice.
I am good at, and very experienced at navigating through bidding wars. I will fight for you. Having someone with over 32 years in the business on your team is a good thing. Before you submit an offer,
- You’ll have a good idea what the home is worth
- What it’ll probably take to get it
- What it’ll likely appraise for
That will give you the clarity to proceed with confidence. CONTACT CHUCK