Some buyers just don’t understand just how important this is. It is truly one of the most important things a home buyer can do before contacting a Realtor to be their buyer agent. Some buyers get offended when a real estate agent asks them if they have contacted a lender. This shows the lack of understanding of how the process works. A Realtor is not pressuring you when they ask about your talk with your lender. They are actually doing you a service and doing their job. A buyer should actually be more worried if the buyer broker doesn’t ask this question.
It is the buyer agent’s job to be sure you can afford the homes you are looking at
When a buyer’s agent asks you if you have spoke to a lender about your mortgage and what the outcome of that conversation was, he is actually performing his duty as real estate agent. One of the material facts he is required to disclose to listing brokers is a buyer’s ability to close on the property. A real estate agent is not allowed to write a contract that he knows a buyer can’t perform on. That is why it is so important to keep your real estate broker informed about your conversations with your lender. Your broker will also most likely talk to your lender on multiple occasions to make sure things are moving forward. The buyer agent also must inform the listing broker immediately during the life of the contract if they learn you are unable to close for financial reasons such as loss of job or change in your economic situation.
The buyer agent is making sure you are not wasting everyone’s time
Another reason a buyer broker should inquire about your ability to get a mortgage is that if you can’t get a mortgage or qualify tor a house in a specific price range is it is truly a waste of time for everyone involved. It takes time for a seller to get ready to show their home for each appointment, the buyer broker needs to meet you at the home and show you properties you might be able to purchase. It wastes the buyers time as well. No one wants to spend time looking at properties they can’t buy.
In a seller’s market you must be ready to submit an offer that day
It is sellers market in most the US in 2018. If a buyer sees a home they like and they are ready to make an offer they need to be ready to make the the offer fast or they will miss out on the home. It is also required by almost every single seller now for the buyer to submit what is called a pre-qualification letter with their offer. A pre-qual letter is a simple letter, usually about a paragraph, from your lender saying if all the info you gave them can be verified you can get a mortgage on a particular home. This letter must be submitted with your offer for the sellers to consider your offer valid. Most real estate agents will advise their sellers not to sign the offer until they get that letter. The sellers don’t want to take the home off the market and find out in 2 weeks a buyer can’t get a mortgage.
Some luxury homes can’t even be viewed prior to proof of ability to purchase
Some luxury homes are not even accessible to buyers until they either show proof of funds or a pre-qual letter. It is isn’t uncommon when working with other luxury brokers for them to ask me to present them with proof a buyer can afford the home. This is understandable and an acceptable practice in the luxury home market. It is for the sake of bot wasting people’s time but also security. Almost every 4 million dollar home has some pretty nice stuff in it. The sellers just want to make sure it just isn’t someone looking to case the place.
![Real Estate Agents Evergreen CO](https://orsonhillrealty.com/wp-content/uploads/2019/03/Orson-Hill-Realty.png)
Orson Hill Realty is a real estate company in Evergreen, Colorado that serves the Denver Foothills and the Denver Metro. Orson Hill Realty can assist in any size real estate transaction from small land listings to luxury listing agents and buyer brokers.
Orson Hill Realty has experienced listings agents and buyer agents. Our Realtors know how use high tech digital marketing mixed with old school marketing to sell your home faster and for more money.
This technology also helps buyers find their home faster. That way a buyer never misses the perfect home again. Any real estate agent in this day and age that doesn’t leverage technology is not doing their clients any favors. All Orson Hill Realty real estate agents are Realtors.
Orson Hill Realty is a full-service Colorado-based real estate company that offers professional real estate agents and brokers to assist you in your buying or selling process. Our agents are well-versed in the local community and have a strong online presence, making them highly effective in their field. For buyers, we offer online listing alerts and a user-friendly portal to facilitate an efficient home search, with access to homes not yet on the market, and for sellers, we advertise on a wide range of listing websites to ensure high visibility for your listing.
As realtors, we are dedicated to upholding a higher level of ethics and experience in our business, and we are deeply invested in the community, with active participation in various local events and activities. Our real estate agents possess a wealth of knowledge on the local area and know how to negotiate the best prices for your needs. We offer excellent services for luxury homes and horse properties, although we handle any size real estate transaction with utmost professionalism.
Our company places a strong emphasis on technology, recognizing the importance of an online presence to meet the demands of our fast-paced industry. With multiple high traffic websites and digital marketing strategies, we ensure that your property is marketed throughout the internet to reach a wider audience. We are dedicated to providing luxury services to all our clients, regardless of the price point.
Orson Hill Realty
Ask me about Southwest Florida real estate
Leave A Comment
You must be logged in to post a comment.