Vero Beach Real Estate Voice: June 2011

Pre-Qualify? Not Till I Find a House!

Pre-Qualify? Not Till I Find a House!

This is a great post highlighting the importance of  pre-qualifying...I had to share this post!   Deb does a great job pointing out the  importace.....Thank you Deb!

 

How many times have you heard this? It is one of my personal pet peeves and it's getting worse and worse. I remember the days when all I asked was, "How's your Credit?" and with the right answer off we would go! Even I felt comfortable showing homes without an Approval Letter. No biggie. Obviously, today is totally different. Yes, I would love to show them houses if they are able to BUY! Please get your Approval Letter

How many times has your "potential client" said, "I am not going to have any trouble getting a home," in response to your questions? I then go on to explain just how turbulent the times are and how our Qualifying Requirements have tightened and changed and they come back with the proverbial answer like, "yeah, but I'm good friends with my banker", or "my family will loan me the money" or "I have perfect credit," and you just want to scream...THEN GET PRE-QUALIFIED.

Nothing is in stone these days. I recently contracted a large and lovely home for a couple that did have perfect credit. They were making $250,000.00 per year AND they were Pre-Qualified by Bank of America. I submitted their letter to the Foreclosure company and we had a deal! Awesome. The home was $349.000.00 and it was their dream home.
After about a week of dealing with the Underwriters and making calls and being a bit pushy we were running out of our "Final Approval" period and I didn't want them to lose their large Earnest Money check...so, I pushed.

It turned out that they were being paid by their own Company. So? The company made the money and seemed to be able to afford the payout. As it turned out, because the company had shown a loss on their Tax Return the previous year they were DENIED. Even with the Approval letter. You just never know...my heart broke for the moment.

FOR CLIENTS AND CUSTOMERS: We ask you to please understand when we do not want to jump and run to show you a house without an Approval Letter. It isn't that we are lazy or selfish or are attempting to make your lives difficult. It is however a huge undertaking to not have the Loan Go Through! We as Realtors are bound by an agreement of Ethics. One of the main requirements is to always tell the truth! The truth is, it's tougher than it use to be to get a loan. You may have perfect credit and lots of money in the bank.
But, this in and of itself is no guarantee!

Domino Effect:
Please get your Approval Letter

Not to mention that if we do go view homes, that is no longer an easy thing to do! With gas prices the way they are we are footing the bill for a very expensive venture! For you it is fun and possibly a part of your vacation.

To us it is a full day out after making arrangements, driving you to home after home and then....if you choose to make an offer on the home we begin with the paperwork. Once accepted if you then go for an Approval and it is denied, we have worked many, many hours for free and basically nothing...We have turned many lives upside down and inside out.

The Sellers have begun to make plans for the move that isn't going to happen. They have even begun a search with another Realtor that is in the same work mode as us! So, the other Realtor, thinking their house is selling begins the entire process over and again many, many lives are affected. It's the domino affect!

Please get your Approval Letter?

Other Agents: Any ideas how to get this point across? Lissa suggested that we tell them to lock in the interest r
ate. Good idea.

 

                                                                                                          
**********************************************************************************

 

Brooks Prime Properties, LLC
Waterfront Real Estate Specialists
936-295-0005
Lake Conroe Real Estate, Lake Livingston Real Estate
Your Waterfront Realtor®  Deb Brooks 
Follow Me on Twitter

 

Texas Home Search on FaceBook

www.brooksprimeproperties.com

www.lakeconroeprime.com

 Some photos attributed to FreeFoto.com                                              Brooks Prime Properties, LLC

 

Lake Conroe, Lake Livingston Video Advice!

 

About The Author 

                                                                      

Barbara Martino-SlivaRealtor® at Dale Sorensen Real Estate Inc., VERO BEACH FLORIDA is the author of this blog and several other sites on the Internet. She has also been a guest speaker on an on-line radio program dealing with Florida and Vero Beach Real Estate and a columnist for the digital magazine FLORIDAYLIFESTYLEONLINE. Barbara is your Real Estate Connection in the Vero Beach area, and is always available to help you with your Real Estate needs. If you have decided that quality of life in VERO BEACH  is worth seeing, call her anytime at 772-321-4484 or to search for homes visit: www.VeroPremierProperties.com and her Vero Beach Blog: www.VeroBeachRealEstateVoice.com.

Over 92% of all homes are found online. I create a dominating online presence for my clients properties. My Real Estate blog is highly indexed in GOOGLE.

 

                                              Barbara was just voted 

                      "FAVORITE REALTOR on the Treasure Coast 2015

 

 

        "Your Vero Beach Real Estate Connection" 

                                       Vero Beach Realtor Barbara Martino-Sliva, Vero Beach Real Estate

                         BARBARA MARTINO-SLIVA OF DALE SORENSEN REAL ESTATE
                     
                                       Beyond Your Expectations

           Fine Vero Beach Homes in "all price ranges"

 

           

 

                   www.VeroPremierProperties.com
                   www.VeroBeachRealEstateVoice.com

                              www.GrandHarborVeroBeach.net
                   BARBARA@martino-sliva.com
                         772-321-4484

  
                                                        Follow me on Twitter

     Copyright © 2015 and beyond Barbara Martino-Sliva, All Rights Reserved.
              Information is deemed reliable but not guaranteed. 
                      

                                                Flag Counter

Pre-Qualify? Not Till I Find a House!
share
Pre-Qualify? Not Till I Find a House! This is a great post highlighting the importance of pre-qualifying… I had to share this post! Deb does a great job pointing out the importace… Thank you Deb! How many times have you heard… more
WORDLESS WEDNESDAY, VERO BEACH FLORIDA, CHARMING LITTLE BEACH TOWN
share
WORDLESS WEDNESDAY, VERO BEACH FLORIDA, CHARMING LITTLE BEACH TOWN If you are looking for a beach community in Florida… consider "Vero Beach"… Located on the Atlantic Ocean, "VERO BEACH"… more
VERO BEACH 4TH OF JULY FIREWORKS, JULY 4, 2011
share
VERO BEACH 4TH OF JULY FIREWORKS, VERO BEACH FLORIDA, JULY 4, 2011 I would suggest calling the Vero Beach Recreation Department @ 772-567-2144 for more … more
Improved Housing Values Reported in 13 U. S. Cities
share
"IMPROVING HOUSING VALUES REPORTED IN 13 US CITIES" Check out the report by AP Business Writer, Derek Kravitz… "SPRING BUYING BOOSTS HOMES PRICES IN 13 US CITIES"… Thanks Myrl for bringing this to our attention… more
SUMMERPLACE, VERO BEACH FLORIDA, CHARMING ISLAND COMMUNITY
share
SUMMERPLACE, VERO BEACH FLORIDA, CHARMING ISLAND COMMUNITY "SUMMERPLACE" is a charming true beach community with a natural landscape and sandy streets… if you are looking to live in a one-of-a-kind… more
SEARCH VERO BEACH HOMES, $800, 000 to $1, 000, 000, VERO BEACH FLORIDA…
share
SEARCH VERO BEACH HOMES, $800, 000 to $1, 000, 000, VERO BEACH FLORIDA HOMES FOR SALE SEARCH VERO BEACH HOMES, $800, 000 to $1, 000, 000, VERO BEACH FLORIDA Click on the homes above to view information… contact… more
SANDPOINTE/VERO BEACH, VERO BEACH FLORIDA, GATED ISLAND COMMUNITY
share
SANDPOINTE/VERO BEACH, VERO BEACH FLORIDA, GATED ISLAND COMMUNITY "SANDPOINTE" is a gated community that spans from the ocean to the river and offers quality … more
OCEANSIDE HOMES FOR SALE, VERO BEACH FLORIDA, FLORALTON BEACH
share
OCEANSIDE HOMES FOR SALE, VERO BEACH FLORIDA, FLORALTON BEACH "FLORALTON BEACH" is a community located in the south beach area of Vero Beach. A casual and laid-back community offering a variety of… more
Buyer Tip: Put Your Best Foot Forward When Making That Offer On Your…
share
Buyer Tip: Put Your Best Foot Forward When Making That Offer On Your New Home Debe has some of the best posts on AR.. here is another… She gives some great tips on how to make an offer… and how to prepare to make one… Thank you Debe! … more
The difference between selling and salesmanship.
share
"THE DIFFERENCE BETWEEN SELLING AND SALESMANSHIP" Richard Weisser always posts some great blogs along with some spectacular photos. Here is his latest… I like it and am sharing it with you… Thanks Richard. There is a… more