Why do I feel that buyers drag their feet when I tell them to see a lender before shopping for a house...?

Juvedall
Agent
Houston County, TX

Would you go to buy a pair of shoes without knowing how much money you have in your pocket? It's the same when you shop for a house. Know what you can afford or qualify first and then we'll go hunting for one.
Lately, I have been dealing with first time buyers that they feel they should talk to lenders only before making an offer. A Lender is not a Dentist, okay ?

Answers (4)
Lynn911.com Dal...
Agent
Dallas, TX

I love it ... I receive 100's of calls per week, I state unless you have lender approval letter I can't show properties that letter instructs me how to work with you as the buyer. Most of time I can based on ?'s asked determine if they can qualify. If not lease is their option

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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Lynn911

Web Reference: http://www.lynn911.com
Thu Sep 3 2009, 21:23
Bill Eckler-Flo...
Agent
Venice, FL

It IS one of our responsibilities as leaders in the real estate business to spread the word.....and sometimes it's necessary to repeat the message.

The more the message is spoken and the more it's heard.....the better the chances of making a difference.

Thu Sep 3 2009, 18:58
Fred Griffin
Broker
Florida

A Buyer without a Pre-Approval Letter and / or a Proof of Funds Letter is not a serious Buyer.


There may also be ethics questions involved when Agents show properties to unqualified Buyers.


If the Buyer will not get a pre-approval letter or a proof of funds letter, then respectfully decline to show property to them.

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Best wishes,
Fred
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Tue Sep 1 2009, 16:18
Claudia Mckenna
Agent
Chesapeake, VA
FIRST ANSWER

That always makes me wonder how serious they are. How do they know what price range to look at? You could go out looking at homes in the $250 range only to find out they qualify at $200. It wastes everyone's time to be premature, possibly losing a home they might have liked. People do this online calculating and think they're automatically able to purchase a home. I've had this happen only to find out there were credit issues, so now, until I've got lender approval, we don't go out.

Tue Sep 1 2009, 14:31

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