Monday, February 01, 2010

Get Pre-qualified For A Loan Before Looking For Homes

My Favorite 2 Lenders:
Dave Ross - https://www.davidrossloans.com/
Julie Sanchez - http://alderus.net/mortgage-advisor/julie-sanchez/ - se habla espaƱol

visit the above lenders to find the best rates and for personal service.

My intention as an agent is to assist and protect my customers at all costs; with that being said...It still amazes me that when you explain to future home buyers the importance of getting pre-approved for a loan and that it assists & steamlines the homebuying process that many people are hesitant about moving forward.

Once we both meet, you will find that my style and attitude of assisting homebuyers will put you and your family at ease. I'm very easy going and non-threatening and will listen to your housing needs.

Remember, first and foremost my job as a real estate agent in Las Vegas is to simplify the process for you and protect your interest. I have a fiduciary obligation to assist not only you, but all of my clients.

Here is a good way to compare the home buying process; I relate it to dining out....you go to the restaurant, look at the menu, discuss with the waiter what you are looking to eat, and then you proceed with ordering...etc....

In real estate, you choose an agent that will help you get pre-approved for a home loan so the buyer can know exactly what their purchasing power is, and it will let them get an ideal of what the monthly payment will be. Getting pre-approved for a loan takes 5-10 minutes, and once you have the pre- qualification letter, it shows the seller that you are serious about purchasing their property and can put in bids below the asking price in many cases.

However for me there is nothing worse then wasting time looking at homes that are not affordable for the buyer because their agent has not done their job by assisting in the loan preparation process. Years ago,when I was just starting out in the business, I would take anyone out to look at homes. I did'nt know any better so it did'nt take long for me to learn that I was not doing the client or myself any favors by skipping the loan approval process.Being a trusting person, I used to take people's word that they did'nt have any late payments, liens, missed child support, bad credit... etc. I wasted my client's time and my own as well. That was then, this is NOW!

Once pre-approved for a loan, the next step is to sit down with your agent with all parties that are decision makers and view homes online that fit your criteria on the multiple listing service before going out to look at homes. This way, you can narrow your search down before driving all over town and you can select homes from any location or area in Las Vegas. (In many cases, the other spouse is not available to look together and so by the time a home has been identified and you both look at it, it is already sold. this is common in a hot foreclosure/REO market like Las Vegas. So do yourself a favor and make sure all parties buying the home are together when home shopping.)

It is important that your agent pre-call the listing agent, so as to not waste everyone's time. There may be multiple offers on the home or the home may be sold already. Often, there are situations where homes that are listed have been pulled for auctions. Many times there are people living in the home and an appointment needs to be made to view the home at a convenient time for the homeowner.

Hopefully, this will give you an ideal of the home buying experience in Las Vegas.

If you are out of state, or would like a relocation guide to Las Vegas real estate, click here then call Steve Harless at 702-217-1680 to assist you on your upcoming move. Hope this article helps you. best regards, Steve