Tuesday, July 16, 2013

Home Buying Tips: Jump through hoop, make offer

Some properties for sale require extra steps to simply make an offer.  Most sellers will require a reputable mortgage pre-approval with a written offer on their home.  However, this week we ran into a bank owned (REO) property that requires a pre-approval from a specific lender, Wells Fargo. This information was presented clearly in the listing information for the property.

These gymnasts practicing at NEIU know a little something about hoops (Photo Eric Rojas, Broker)

Jumping through a couple hoops to make an offer on a property is not uncommon and should not intimidate the buyer.  As brokers, Bob and I know as much information as possible about the homes we'll show prior to showing our clients.  Information like special pre-approvals, short-sale status, renters in the building or if the unit has a renter itself should not be surprises to our clients.  All too often we have a buyer's agent show up at our listings and ask questions like "Does this unit have parking?" 

The research needs to be done to make sure the property makes sense for the buyer.

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