IF HOME BUYERS ARE SO SMART, THEN WHY AREN'T THEY GETTING PRE QUALIFIED?
No doubt most buyers are getting smarter all the time. With listings available on the Internet, most people have access to a computer and it is said most shopping for a home starts online, then it can be assumed home buyers really are getting more savvy.
Having said that, however, it befuddles me that the message to get pre qualified, to research loan programs available, to understand the buying process does not take place before a contract is written. Of my recent inquiries for a home purchase 2/3 wrote contracts before contacting a lender. Further, who are these Realtors writing offers for these people?
It can be costly to not get pre qualified. Along with qualifying home buyers I educate them about selecting a real estate agent to work with, what pitfalls to look for such as what properties can't be financed besides the loan process itself. Doing the prep work up front is so valuable I wish all home buyers would take that step to get pre qualified first. There are times it works out just fine to do things in reverse, but it can sure add some unnecessary angst.
Home buyers need to be smart and get pre qualified. My website has a lot of information for the Kentucky home buyer www.dagriffinfinancial.com. Rather than spend a lot of time there, I am always happy to break it down in a phone conversation and supply a top list of mistakes made by home buyers as well as steps to take before buying a home.
