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If Youre Looking To Buy In Todays Market You Have To Be Ready
Dated: May 5 2017
If You're Looking to Buy in Today's Market, You Have to be Ready!
Remember all of those baby boomers who were in the news before the Millennials or Generation X or Y or whatever letter is attached? The majority of those baby boomers have either retired or are quickly approaching retirement or semi-retirement and are buying homes with cash in large numbers. Paying for a home with cash may sound foreign to many people, but these purchases are a large part of our real estate transactions today.
If you are not paying cash for a property, you are at a disadvantage in this current, booming, fast-paced, real estate market we have entered. Unfortunately, it is simply a waste of time for you to even think about viewing homes until you have spoken with a lender to get a pre-qualified / pre-approval letter to show your creditworthiness.
If you hesitate for even a moment or have to call a lender to get a pre-approval letter once finding a home that fits you well and you are interested enough to put in an offer, you have dropped the ball and are letting one of the many cash buyers slide in and grab it away just that quickly.
The only way you can somewhat level the playing field full of cash buyers today and stand a chance to purchase a home for your family is to phone a lender, have him or have her email you that pre-approval letter, and take it with you to meet with a real estate agent.
You may have been through an easy lending process in the past and have little doubt of your ability to afford a house of your choosing today, but lenders may have other ideas and both sides of the transaction need to know before you view homes, make an offer, or try to put that house under contract. Most sellers are advised against accepting an offer without the pre-approval letter presented immediately, because you can almost be assured that another offer for that seller's home is simply moments away from being presented.
As the old saying goes, if you snooze you lose! A wannabe buyer is going to lose out today if they are not prepared.
To get the ball rolling on getting your financing in place, contact your favorite bank or mortgage broker. Our buyers have had an excellent experience with Patrick Croft with Bank of England Mortgage and you can too! Contact me today and I'll get you connected with Patrick and help you find you next home!
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