The Spring Market is Coming! 

 

You see it all the time. An excited buyer loves the place I’m showing off at an open house and just can’t wait to put in an offer. As the conversation progresses, I find out they haven’t been pre-approved by a lender for a mortgage. With no proof of financing, most buyers, unless they plan to buy in cash (RARE!), have no way to place an offer.  It frequently is a surprise to buyers that, these days, sellers generally won’t accept an offer without proof of a pre-approval. The lender’s view addresses the strength of the offer being placed and shows the seller that this buyer can close the deal. 

According to this article, more buyers are getting their ducks in a row and getting a pre-approval before starting house hunting. That way they’re ready to jump once they find their “Forever Home”. In the recent market, houses were coming under agreement in days after being listed, so speed was essential to securing a buyer’s dream home.

 

Realtor.com survey says more buyers are ready to place offers with pre-approvals prior to house hunting

 

If you’re thinking of buying a new home, we recommend you take the time to get a pre-approval. It’s pretty convenient and great information to have, even if you’re just considering. If you’re not quite ready to jump into the market yet, it’s still a great idea to find out where you’re at right now. That way you have solid information to plot a path towards getting to where you want to be. Call us at (781) 222-3344 if you’d like more information or want the names of some great mortgage brokers in our area.

 

Buyer and Seller Consults are a free service we provide.

 

Remember, The Spring (Market) is Coming!

 

Lew McConkey, Realtor
Coletta Cutler Realty