The Benefits of the Buyer's Consultation

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So, you've decided it's time to buy a home. Whether you are a first-time buyer or not, one of the most important things you can do for yourself is to engage your real estate professional in a consultation.

From a strategic standpoint, the buyer's consultation is crucial. You can meet with your agent and come up with a plan. We can guide you to a mortgage professional, and we can coach you on negotiation strategies. It's much less stressful to have a negotiation strategy in place rather than finding the home you want and not knowing what to do next.

The consultation also allows you to discuss these things in a much more relaxed atmosphere. You simply tell us what you're looking for in a home, what you need for your mortgage, and we can pull the right strings for you as opposed to flailing about and not handling things in the right order. 

The buyer consultation allows us to do you a much better service while saving you a lot of time in the field. We'll also provide you with Internet tools to aid you in your home search.

If you have any questions, please do not hesitate to reach out to us. We look forward to hearing from you!

Why You Need a Pre-Qualification Letter

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Today, we will discuss the importance of the pre-qualification letter. The pre-qualification letter is essentially physical evidence that you can afford a home. 

The pre-qualification shows seriousness to all parties involved: your own agent, the listing agent, and the sellers. A pre-qualification also helps to inform the buyer. You'll know how much you can afford, and you can plan on how much you actually want to spend. 

The lifespan of a pre-qualification letter can vary from lender to lender. If nothing changes, it could be good for up to 90 days. It's important that you don't change anything. Please don't quit your job or buy a car. Don't do anything that would significantly impact the numbers your lender has pulled.

In terms of what the pre-qualification letter says, my preference is not to have a number on the letter. We merely include the letter in the offer packet. The seller doesn't need to know how much you could afford. That would definitely hurt your negotiations with the seller if they know you can afford $250,000 but you're only comfortable offering $200,000. Frankly, it's none of the seller's business how much you could afford.

 

When you get a pre-qualification letter, you're not required to stick with that lender. However, whether you change lenders or not, make sure you select a reputable lender. 

If you have any questions on today's video, give us a call or send us an email. We would be happy to help you!