Have you ever wondered what it means to be pre-approved for a mortgage or why it’s important before looking at homes to buy?

Many years ago when I first became a licensed Realtor another Realtor told me that whenever I’m going to show potential buyers some properties to make sure they’re pre-qualified for a mortgage.

He said you don’t want to waste your time as a tour guide.

First of all I don’t consider ANY client   OR   the time I spend with them a waste of time …. ever!
So I don’t agree with his attitude or perspective on things.

But I also believe that if you’re an experienced Realtor who is trained to work with buyers and you have the necessary qualification to best serve buyer clients then it should never seem like you’re being a tour-guide.

For me … I look to deliver a great experience for ANY client, whether a Buyer or a Seller.

So  if  I take you out and you’re looking for a house or condo to buy I should be able to narrow our showings down to a short-list of suitable properties that you’re likely to be interested in, that meet your criteria, and you get excited about.

But I DO definitely agree with the important of being pre-qualified for a mortgage.

If you’re NOT pre-qualified here’s what could potentially happen.
You’re going  find a property you love.  You’re going to ask me to write an offer and negotiate for you.
And … If you’re prepared to offer your hard earned money – 6 or 7  figures  … on a property then you likely already love this place and you’re looking for to it.

You already picture yourself  and your family or you and your  pets  living  there.
You’re picturing your living room setup,  where the furniture will go, the hobby room or kids rooms, the backyard or frontgarden.

But then what could happen is we make your purchase offer conditional on financing (of course to protect you).
And then the seller has accepted your offer & we’re just waiting a few days for the mortgage broker to confirm your financing has been approved.

But what if the mortgage broker comes back & says your mortgage application was declined.

What if they say this property is over your budget (sometimes only a few thousand dollars).

Well, then your dreams are shattered then & there.

And it becomes a bad experience. Not just a bad experience then but every time you look at a property after that, or make an offer after that, your tension is high, your hopes are diminished, and it’s not the exciting experience it should be.

Like I said, I always  want  every step of the process to be a great experience.
It’s all about you having a great experience.

If  you’re  pre-qualified, and then we look for properties within your budget and then you want to make an offer on something you CAN get excited because you know it’ll be approved.

If you’re thinking of looking for a home in the near future and want to plan your budget or want to know more about the pre-approval process you can email me confidentially and I’ll be happy to answer your questions.

I can also refer you to the BEST mortgage brokers in town who are the best at getting you the RIGHT mortgage for what you need and provide an equally great experience within the funding process.