Do Your "Home" Work - Part 2

The Denninger Report  - by Gini Denninger

Automated search
If they don’t offer, ask your agent to set up an automatic search to send you information from the MLS. This can be set to send you property information, new listings, solds and changes, such as new photos... every day! When you see some that you like, call your agent and discuss these properties as quickly as possible. If you are searching in a very desirable area, timing is everything!

Recommendations
Ask your agent for mortgage officer recommendations. This is crucial. They work daily with these people and know who is good and who lacks. The agent wants the deal to go through as much as you do, if it doesn’t happen due to a mortgage officer who either is not knowledgeable or just doesn’t care (yes, they are out there) all the time, money and effort the agent expended is lost and they don’t get paid. They WILL recommend a GOOD mortgage officer who knows what they are doing... the Realtors^® income depends on it.

Pre-approval
Once you select your mortgage officer, get a pre-approval letter. This is crucial if you want to submit an offer that is seriously considered. Most listing agents will ask for proof you are able to get a mortgage and tell the seller you are able to buy based on this information. If you don’t have this its a rare offer that gets accepted because the seller does not want to tie up their property with questionable buyer.

A pre-approval means the mortgage officer has checked your credit and the numbers work. This also means that you know exactly what dollar amount you qualify for, and are shopping in an affordable range. Don’t be sorely disappointed when your dream house ends up going to another buyer just because you did not have all your ducks in a row.

Curbside shopping
You found some properties you like. Begin your curbside shopping! This means before you decide you want to see the inside, look at the property from the outside. This way you can pare down your list to the properties you really want to see. Know that once you commit to an appointment to see a house, it is rather rude to refuse to go through the house because you don’t like the outside. The home owner usually goes to great lengths to get the house ready to show, and often two agents show up to walk you through. Don’t be selfish, do what is right... do some driving and eliminate homes your not interested in seeing more of before making an appointment.

One exception is if you are looking in a really hot (competitive) area. When you talk with your agent about the houses you find online, let them know you will do a drive by. If they think there’s no time, that you have to get in right away, they will tell you and book the appointment! But in most cases, they will be appreciate your being proactive with your time and theirs.



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