Terry Whiteley

GET PRE-APPROVED

I'm Terry Whiteley a Coldwell Banker United Realtor in Tyler Texas. I want to talk to the HOME BUYERS out there. Initially,during the HOME BUYING PROCESS we sit down in a relaxed friendly supportive environment. That's because I am not selling anything. My mission or goal is build rapport with you so I can determine interest and needs. Plus I want to determine if you are motivated or just looking. Because you have choices it's important for you to know that sometimes we represent sellers and sometimes we represent BUYERS. Therefore, I will take the time to explain information about brokerage services. As the BUYER my very next question will be "... do you know how much ($$$) you are PRE-APPROVED for? Or said differently do you have a PRE-APPROVAL letter from your bank? Unfortunately, many FIRST TIME HOME BUYERS look at me with blank expressions because they don't understand the HOMEBUYING PROCESS. On the flip side many experienced buyers can produce the needed documentation. If you are a FIRST TIME HOME BUYER this is where I pause then ask "would you like to hear more"?

IMPORTANCE OF PRE-APPROVAL LETTERS

There are several good reasons why a PRE-APPROVAL letter is important. First, it's a time saver!!! It saves both of us time because now we can focus on which homes to target. It lets me know if you are really motivated or just looking. Secondly, it will shield you from potential embarassment especially if you fall in love with a home that is beyond your financial means. Third, it speeds up the HOUSE HUNTING PROCESS. Fourth, we can write a contract together which SELLERS will take serious because they know you have the money to back up your offer. This is another time saver as this enables and speeds up the CLOSING PROCESS which recently has been hammered as lenders struggle to get loans through the underwriters in a timely fashion. Like it or not lenders are taking 2 - 4 weeks longer. That's why PRE-APPROVALS are important. Finally, if there is a credit issue it gives lenders time to find potential problems before they arise.

IT'S A MATTER OF SELECTING THE RIGHT AGENT

Recently I chatted with a client (seller) about the importance buyers place on the appearance of a home. Buyers make very quick value judgments about the asking price a seller is seeking based on a set of "appearance cues" they see during the walk through. For example...have the carpets been vacuumed, are the windows clean or has the yard been reasonably cleaned up. Think about this. When your flying and after pulling down the seat back tray in front of you and you see coffee stains, don't we as airline passengers begin to wonder about routine maintenance on components we can't see? It's those same "appearance cues" that buyers get when they walk through your seller's home. Buyers say to themselves if the carpets aren't clean I wonder what else they have ignored that I can't see. Granted inspection results play an important role during the negotiation of the asking price. In my opinion it's the "appearance cues" that buyer's first see or sense that matters most. These "cues" often determine whether or not the buyers will even choose this house to make an offer.