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This tends to be the most generally given and generally disregarded advice in our industry. The fact of the matter is that there are a number of reasons this is important. It allows you to get an idea for your purchasing power based on current interest rates, down payment, etc., it enables you to start building a relationship with one or more lenders to determine if you’ll be able to work well with them, and it empowers you to make purchase decisions when you find the right home. However the most important reason is quite simply, leverage.

The reality is, all sellers want to insure their interests are being thoroughly protected, and if they receive an offer on a property without a pre-qualification letter or pre-approval letter from a lender they will either not respond at all, or will respond with less favorable terms until they are sure you are a ‘real’ buyer. Many times, especially with highly desirable properties, the day or so it might take you to get that letter from you lender (even if you already know you are creditworthy!) can make the difference between securing the house or bidding against other offers. Even if the home has been on the market for a few months, a good pre-approval letter sends a favorable first impression, and can literally make thousands of dollars of difference in the mind of the seller during negotiations. So do yourself a favor and get this step out of the way.

At RealEdge we have the opportunity to work with some great local lenders, and if you don’t have an existing relationship with a lender, we think that’s a good place to start.

In today’s selling landscape the seller of your home might fit the typical mold of Joe and Susie Homeseller, relocating out of the area for a job or moving up to make room for kids, and waiting to sell their house until they move.

However, that’s only one of many possible scenarios, and it’s important to know which one.

Maybe the seller of record is Absentee Owner Investment LLC and the home has been vacant for six months, or maybe it’s a relocation company, a bank, an estate, some other corporate entity, or even Uncle Sam! All of these are highly possible, and each one makes a large difference in how you negotiate with them once you have identified your home of choice.

For example if you’ve decided to write an offer on a single owner home where the sellers have staged the home immaculately, and insist on being present for all showings,  your negotiation strategy might be less effective if you employed the same tactics as if the property is a lender foreclosure and the home has been vacant for at least six months and who knows how long before that. This knowledge and resulting application of this knowledge only comes with experience, and is another reason why it’s important you have a professional, active, and knowledgeable Realtor in your corner.

Contact us today to get started!

home-for-sale-1
Home Inspection Image

So you put a contract on a property, and you just found out (choose one):

A) there is termite damage

B) There is a federal tax lien on the property

C) there is mold in the crawlspace

D) the seller was your orthodontist and he remembers how you didn’t floss

E) there is a boundary dispute on the survey

F) The roof must be replaced

G) The neighboring house is a rental

H) There is now a backup offer on the property

I) The electrical wiring was last updated by Thomas Edison himself

J) Your lender was arrested for tax evasion

K) The underwriter is requesting a copy of your junior high track photo

L) The seller’s agent has a pretty severe Napoleon Complex…

Believe it or not, all of these things and countless others have happened before and will happen again. If not one of these exactly, it is almost assured that SOMETHING will happen during your transaction that feels like it’s coming out of left field.

The truth of the matter is that there are not very many ways to predict these things, but when they happen it is important that they are being handled in a timely manner with a deft hand. This is yet another reason why it is so important to have the knowledge and experience that a Realtor brings to the table in your fold.

Whether it’s deciphering an inspection report, making appointments with contractors and tradesmen to obtain bids for repairs, navigating legal and financial obstacles that may come up, or simply making sure that you’re not being hung out to dry, a good agent is able to advise their clients in all matters.

So take a deep breath, relax, and know that if you’ve made the decision to go with a RealEdge agent, you are in good hands.

now-what
+ Before You Buy, Prequalify
Real Edge Real Estate Logo

This tends to be the most generally given and generally disregarded advice in our industry. The fact of the matter is that there are a number of reasons this is important. It allows you to get an idea for your purchasing power based on current interest rates, down payment, etc., it enables you to start building a relationship with one or more lenders to determine if you’ll be able to work well with them, and it empowers you to make purchase decisions when you find the right home. However the most important reason is quite simply, leverage.

The reality is, all sellers want to insure their interests are being thoroughly protected, and if they receive an offer on a property without a pre-qualification letter or pre-approval letter from a lender they will either not respond at all, or will respond with less favorable terms until they are sure you are a ‘real’ buyer. Many times, especially with highly desirable properties, the day or so it might take you to get that letter from you lender (even if you already know you are creditworthy!) can make the difference between securing the house or bidding against other offers. Even if the home has been on the market for a few months, a good pre-approval letter sends a favorable first impression, and can literally make thousands of dollars of difference in the mind of the seller during negotiations. So do yourself a favor and get this step out of the way.

At RealEdge we have the opportunity to work with some great local lenders, and if you don’t have an existing relationship with a lender, we think that’s a good place to start.

+ Know Thy Seller

In today’s selling landscape the seller of your home might fit the typical mold of Joe and Susie Homeseller, relocating out of the area for a job or moving up to make room for kids, and waiting to sell their house until they move.

However, that’s only one of many possible scenarios, and it’s important to know which one.

Maybe the seller of record is Absentee Owner Investment LLC and the home has been vacant for six months, or maybe it’s a relocation company, a bank, an estate, some other corporate entity, or even Uncle Sam! All of these are highly possible, and each one makes a large difference in how you negotiate with them once you have identified your home of choice.

For example if you’ve decided to write an offer on a single owner home where the sellers have staged the home immaculately, and insist on being present for all showings,  your negotiation strategy might be less effective if you employed the same tactics as if the property is a lender foreclosure and the home has been vacant for at least six months and who knows how long before that. This knowledge and resulting application of this knowledge only comes with experience, and is another reason why it’s important you have a professional, active, and knowledgeable Realtor in your corner.

Contact us today to get started!

home-for-sale-1
+ Expect the Unexpected
Home Inspection Image

So you put a contract on a property, and you just found out (choose one):

A) there is termite damage

B) There is a federal tax lien on the property

C) there is mold in the crawlspace

D) the seller was your orthodontist and he remembers how you didn’t floss

E) there is a boundary dispute on the survey

F) The roof must be replaced

G) The neighboring house is a rental

H) There is now a backup offer on the property

I) The electrical wiring was last updated by Thomas Edison himself

J) Your lender was arrested for tax evasion

K) The underwriter is requesting a copy of your junior high track photo

L) The seller’s agent has a pretty severe Napoleon Complex…

+ So, Now What?

Believe it or not, all of these things and countless others have happened before and will happen again. If not one of these exactly, it is almost assured that SOMETHING will happen during your transaction that feels like it’s coming out of left field.

The truth of the matter is that there are not very many ways to predict these things, but when they happen it is important that they are being handled in a timely manner with a deft hand. This is yet another reason why it is so important to have the knowledge and experience that a Realtor brings to the table in your fold.

Whether it’s deciphering an inspection report, making appointments with contractors and tradesmen to obtain bids for repairs, navigating legal and financial obstacles that may come up, or simply making sure that you’re not being hung out to dry, a good agent is able to advise their clients in all matters.

So take a deep breath, relax, and know that if you’ve made the decision to go with a RealEdge agent, you are in good hands.

now-what

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