I agree with Jory that perseverance, connections & strategy get the job done. Our buyers team that consistently helps dozens of clients each year has specific ways to give you an "unfair" advantage over those represented by other agents. We have built tremendous relationships with local agents over time, think outside the box, and work tirelessly on your behalf to obtain the home you desire. I'd encourage you to interview several of the top buyer's agents to see who will deliver the best service.
Which area of Riverside are you looking at? Most of it is already at retail market price. If you overpay, you are not likely to make much of a profit unless you are able to recover that via buy/hold.
You are right that most buyers can not exceed what they are qualified for. All cash buyer does not mean that they are not getting a mortgage, just that they feel comfortable with their ability to do so and willing to risk their deposit.
There are some similarities of the successful files:
1). First and foremost, every successful buyer has had a kick tail, remarkable agent. Hands down, some of the best I have seen in 20 years. You know they are good when the seller accepts their FHA borrower over a cash investor (Absolutely true story...in the Bay Area no less!!).
2). The borrower is prepared (preapproved), realistic and listens to the counsel of their agent. This is not a market for "I need to think about it" or "I will speak to a lender when I find a house".
3). All ducks are in a straight line for a quick and smooth closing.
There is one similarity to the preapproval files in the drawer:
1). The borrower is insistant that they can find a home on their own. Every update of the preapproval letter is sent to a new agent. Essentially, the consumer is bouncing all over the place rather than interviewing and hiring a agent to represent them.
Just observations from your friendly lender....find a great agent and take their lead and advice very seriously.
All my best,
With that being said I agree with Kevin! Interview and find yourself a top buyers agent, that specializes in the area you are planning on purchasing your new home. He said it best with the top agents having relationships built while negotiating prior deals it gives you an advantage others don't have.
As a listing agent , I get many calls from buyers trying to go direct.
The fundamental problem is that banks or sellers aren't giving homes away at a discount, they still want max dollar.
On top of that , you have no idea what kind of agent you will end up with . Also , trying to pin down the listing agent is exhaustive work.
Give Kevin Allen a call...he is one of the most ethical hard-working , strategic Realtors I know...he'll get the job done for you...just listen to instructions.
Best of luck!
This is very frustrated time to buy a house. We, the buyers, are to be blamed for creating houseing buble
Provided the loan type and the property type qualify for this program, and provided that we receives all required documents within the allotted time frames detailed in the program guidelines ...WE GUARANTEE IT.
Do not loose to a "Cash" buyer anymore.
Contact us, find out how the "Keys on Time" program can benefit you and get pre-approved.
Senior Loan Consultant
All California Mortgage
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