Are you upset with a Northville real estate agent because they won’t show you a house without a pre-approval letter?
Here may be the real estate agent’s reasons why they won’t show you a house without a pre-approval letter
- Northville Home sellers and listing agents won’t accept a purchase offer without a mortgage pre-approval letter. Metro Detroit Home sellers want to know that the buyer can buy a house and that it isn’t a dream. I used to do mortgages many years and I can’t tell you how many people think they can buy a house. They may have too much debt. They may have poor job history or bad credit. But there is no way they would be approved for a mortgage by lenders. So if you don’t have a pre-approval letter then you can’t get your purchase offer accepted. It won’t even be looked at. The seller will not even accept it if there are no other offers.
- Without a pre-approval letter you are just a “looker”. If you are not serious enough to get a pre-approval letter then you aren’t a serious buyer in the eyes of many real estate agents. So why should they waste their time and gas to show you a house you are not serious about. It doesn’t take much time to get a pre-approval letter. So many real estate agents feel if you won’t take 20 minutes to get a pre-approval letter you are not serious about buying. Agents want serious buyers. They have seen enough houses they don’t need to see another one with somebody that isn’t ready to buy.
- The line “I’m serious” or “I’m going to buy” and it won’t be with a real estate agent that won’t show me a house with out a pre-approval letter. Unfortunately as most experienced Metro Detroit real estate agents and mortgage people will tell you…. they want serious buyers that can prove it. In today’s market many people can’t get approved because of the tougher bank rules. Even though you think you can or that your were approved a year or two ago. It’s a new world of banking and mortgage lending.
- Real estate agents are busy like everybody else in life. They only have so much time in a day. Do they spend it with a serious buyer who has a pre-approval letter or a “looker”. They would rather spend time with their family or enjoying time off than a spend time with a non-serious buyer. Whether it is a lake home on Upper Straits Lake in West Bloomfield or a subdivision in Northville.
- You are going to be upset if you got a house offer accepted (which it would never get that far in Metro Detroit) and then found out you couldn’t buy. You will most likely be mad at everybody but the person who didn’t get pre-approved.
So my advice to anybody thinking of buying a home….. get your financial affairs in order and see a mortgage lender to get a pre-approval letter. It will make the whole buying process going easier once you are pre-approved. Plus you should have figured out what you want in a monthly payment before you go to the mortgage lender. It will only take a few minutes to get pre-approved and you will be ready to get the home of your dreams.
Whether you are a Livonia real estate home buyer, a Northville home buyer, or a Farmington Hills home first time buyer get yourself a pre-approval letter.
Russ Ravary your Metro Detroit real estate agent
helping Oakland and Wayne County real estate buyers and sellers make their move easier
My Quote of the day is:
“Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great.”
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