Why Is It so Important to Be Pre-Approved in the Homebuying Process?

Keeping Current Matters

You may have heard that pre-approval is a great first step in the homebuying process. Pre-approval from a lender is the only way to do this. Pre-approval shows homeowners you’re a serious buyer.

Buyers, Are You Ready? Get Pre-approved before you shop!

The Living Room

It has always been a good idea to get pre-approved for financing by your lender before you step foot into the housing market, but today it is even more important. Covid-19 safety guidelines require pre-approval before you go into a listing.

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Pre Approval vs Pre Qualified vs Underwritten Pre Approval: What’s It All Mean?

HomeLight

Do you know the difference between pre approval vs pre qualified when it comes to mortgage loans? The problem is, if they haven’t been preapproved, they’re “scrambling to get approved and can miss out on a home because it takes time.”.

4 Reasons You Should Get a Mortgage Pre-Approval

RIS Media

If you’re just starting out with the home-buying process, you may want to get a mortgage pre-approval. This is a statement from a lender that informs you of a certain amount you are qualified to borrow, as well as a specific pre-approved interest rate.

How To Get Pre-Approved For A Mortgage Loan

First Team Real Estate

If you’ve read any tips for homebuyers then chances are you’ve heard that you need to get pre-approved for a mortgage loan. The question is – how exactly do you get the pre-approval? What is a mortgage loan pre-approval? Pre-approval vs. Pre-qualification.

The Inman Handbook on how to juggle multiple offers

Inman

With some agents seeing upward of 20 or more offers on their listings in today's market, the process can quickly become overwhelming for everyone involved.

1 in 5 Homeowners Missing Mortgage Payments in 2020: How Should Agents Respond?

Real Trends

Real estate agents navigating the COVID-19 landscape have had to adapt their entire marketing model — eliminating or scaling back open houses, substituting video tours for in-person previews, and limiting home visits to buyers who are pre-approved for financing.

Ways Real Estate Agents Can Aid Homebuyers

Realty Biz

Real estate agents are there to facilitate home purchases, whether you’re representing buyers or sellers. Here are a few ways real estate agents can aid homebuyers. . Too many real estate agents ask people to describe their dream home and nothing else.

5 tips for buying a home in a seller’s housing market

Housing Wire

Need a real estate agent? Get pre-approved before beginning your home search. A mortgage pre-approval is non-negotiable in this environment. Work with an experienced agent. There’s no doubt we’re in a seller’s housing market.

4 Must-have Real Estate Buyer Agent Checklists (PDF Download)

The Close

If you’re a real estate buyer’s agent, there’s no doubt you are BUSY. Buyers tend to take a lot of time, have a ton of questions, and need plenty of attention from their agents, making life as a buyer’s agent a little crazier than most of us would like. Agent Basics

How to negotiate your home purchase offer

Housing Wire

Get pre-approved to show you mean business: Consider obtaining a pre-approval for a mortgage from a lender by the time you reach the offer stage, as this document can play a key role in the negotiation process.

Why Have a Buyer’s Agent

The Living Room

Most of the time you can connect directly to a real estate agent who can open a door and show you any home you want to see. Same as having a real estate agent of your own? If you’re thinking about buying a home, you’re ready to connect with a real estate agent.

Rocket Mortgage strikes big advertising deal with Realtor.com

Housing Wire

Effective Thursday, homebuyers on Realtor.com who say they wish to be pre-approved for a mortgage will see an advertisement from Rocket Mortgage that will allow them to receive pre-approval in as little as 20 minutes.

How to Make a Winning Offer on a Home

Keeping Current Matters

The best way to know this is to get pre-approved for a loan early in the homebuying process. Only 44% of today’s prospective homebuyers are planning to apply for pre-approval, so be sure to take this step so you stand out from the crowd.

The Keys to a Quick Close: 6 Ways to Speed Up Your Client’s Closing

Realty Biz

As a real estate agent, there are few things more frustrating than working with a client who is knee-deep in a closing standstill. Between organizing, verifying, and thoroughly checking documentation, accounts, and pre-approvals, agents can sidestep delays with ease.

How Top Agents Master Speed-to-Lead and Land More Clients

HomeLight

We set up a showing in the next three hours, and scheduled a listing appointment for tomorrow because they need to both buy and sell,” says HomeLight Elite agent Tony Baroni. Baroni is an agent with 15 years of experience in and around Tampa, Florida.

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5 Ways to Win a Real Estate Bidding War without the Highest Bid

Redfin

All-cash offers, pre-approval letters, and flexible timelines are all strategies that can beat out the highest offer. Get pre-approved for a mortgage. One of the first steps you should take towards purchasing a house is obtaining a pre-approval letter.

Win Bidding Wars: How to Write Offers That the Seller and Listing Agent Will Love

HomeLight

You need to write offers that tell the seller and listing agent three things: your offer has the best terms. Sarita Dua is a top agent in Portland, Oregon who’s been winning bidding wars all year long — including seven straight in a single weekend.

5 Tips for Homebuyers Who Want to Make a Competitive Offer

Keeping Current Matters

Listen to Your Real Estate Agent. The best way to know this is to reach out to your lender to get pre-approved for a loan early in the homebuying process. Today’s real estate market has high buyer interest and low housing inventory.

Is now a good time to sell a home?

Housing Wire

Only allow buyers with pre-approved mortgages to schedule tours (this ensures they’re serious), and require masks, gloves and other precautionary measures while in the home. As news of rising home prices spreads, more and more homeowners consider selling their properties. .

Tips for Buying a Foreclosure Property

Point2Homes

The real estate agent you choose to work with is even more important when buying a foreclosure. Specifically, a real estate agent who is experienced in helping buy foreclosures and who has a good knowledge of the local area will know when a home is a bargain. Getting Pre-Approved.

How to Win a Bidding War: Write Offers the Seller and Listing Agent Will Love

HomeLight

You need to write offers that tell the listing agent your offer has the best terms, lowest risk, and is most likely to cross the proverbial finish line. In part two of our Walkthrough series on winning bidding wars, Sarita Dua continues her explanation of the 3 C’s of winning bidding wars (confidence, communication, and creativity), how to beat an all-cash offer, and how to write offers that the listing agent will love. HomeLight’s Agent Resource Center.

HomeLight Trade-In: Why Homeowners and Agents Love Real Estate’s “Easy Button”

HomeLight

In this bonus Walkthrough episode, you’ll learn why homeowners call HomeLight Trade-In the “easy button” of real estate and why agents say it’s a “game changer” that’s helping them sell more homes and create happy clients.

Terrible things buyers do to upset their realtors

Realty Biz

Real estate agents are a crucial part of real estate. Agents understand that buying a property is the biggest investment most of us make in our lifetime. But if home buyers act in a way that puts too much pressure on our agents, the home buying journey becomes a mess.

The Competitive Edge

The Residential Specialist

Because inventories are shrinking, agents need to find creative ways to make their buyers’ offers stand out. Even before the COVID-19 pandemic hit in March 2020, residential real estate agents were seeing inventories shrink and increased competition for homes.

2021 Home-Buying Insights From Mortgage Lenders

Lighter Side of Real Estate

A recent article from realtor.com outlined the key insights mortgage lenders want home buyers to understand if they’re planning to buy a home in 2021, including: Get pre-approved from the get-go. The majority of buyers purchase their home using a mortgage.

What Is a Verified Approval Letter—and How It Helps in a Competitive Market

Realtor.com

Although there are factors when competing with other buyers that are beyond your control, there is one step that will give you an edge: Start your home search process by getting a Verified Approval Letter (VAL), an underwritten offer that shows sellers your financing is verified.

How to Get a Home Loan: 10 Steps to Success

Redfin

Clearing your way to get approved for a home loan will ensure that you are ready to act when that dream home appears on the housing market. Most mortgage lenders advise starting the pre-approval process for a home loan 6 to 8 months ahead of when you expect to begin looking for a house. .

Loans 95

Here’s What Your Mortgage Lender Wants You To Know About Buying a House Right Now

Realtor

But there are still many great opportunities if you’re patient and have a great real estate agent and lender.”. Get pre-approved ASAP. Experts say p otential buyers should make pre-approval their first step.

Navigating This Crazy Seller’s Market: 10 Must-Read Homebuying Tips for First-Time Homebuyers

Redfin

Get pre-approved for a home loan. It’s always wise to seek a mortgage pre-approval before you start searching for a house. When you’re buying in a seller’s market, that pre-approval is essential. Work with an experienced real estate agent.

2021 means new challenges for mortgage lending

Housing Wire

But for others, low mortgage rates gave way to pre-approved borrowers struggling in a very competitive seller’s market. Even some of the most seasoned real estate agents have had to slow down in their current business model.

Zillow: How Your Buyers Can Score Their Dream Home

RIS Media

Evaluate your current credit situation and make a game plan to clean up your credit score, if needed, prior to starting the pre-approval process.” Be sure to also clarify the difference between pre-approvals and pre-qualifications.

Buyer Interest Is Growing among Younger Generations

Keeping Current Matters

From pre-approval to bidding wars and guidance on down payment assistance resources, having an agent by your side might make the difference in your ability to land your dream home.

5 Main Categories Buyers Fall Into Based On Motivation

RIS Media

– Explain the importance of being pre-approved for a mortgage from the seller’s perspective. As in the previous situations, it’s a good idea to have the buyer pre-approved, if he or she needs financing, prior to beginning a search.

Generate Listings With Virtual Seminars

RIS Media

You can even have them answer a pre-event questionnaire about if they want to buy or sell a home and what their timeframe is, or if they just want to attend for awesome, free information. Create a Call to Action: Offer a free value analysis on their home and/or a free pre-approval.

A Warning to All of You Who Work in Real Estate

Lab Coat Agents

And second, probably the most damaging is the confusion and negativity it creates on the newer agents because they spend so much time on these people who are never going to buy and it burns them out. – A Buyer – Pre Approved. – B Buyer – Not Pre Approved.

Understanding the Closing Costs Associated With a New Home Purchase

RIS Media

For borrower assistance, see REeBroker Group Pre-Approval. Agent Best Practices Latest News Buying Closing Costs Homebuying Lending Real Estate Financing REeBroker Group Success Tips

4 Ways You Can Help Ensure Fair Housing for Buyers

RIS Media

The Real Estate Buyer’s Agent Council (REBAC) is determined to explore this question and share our perspectives with managing brokers so that buyers are protected from discrimination and brokerages stay on the right side of fair housing laws. Encourage your agents to keep learning.

Homeownership Expenses That Your Clients May Overlook

RIS Media

Your buyers even may have obtained pre-approval from a lender. Agent Best Practices Latest News American Home Shield® Home Warranty Homeownership Expenses Real Estate Agent Success Tips

Navigating Bidding Wars During a Hot Real Estate Market

RIS Media

Keller Williams real estate maverick, Alexis Bolin, joined us this week on a Secrets of Top Selling Agents webinar to discuss what you can do to navigate a hot market and distinguish your client’s offer from the others.