Home Buying in 43160>Question Details

myndidanee, Home Buyer in Richwood, OH

Why do I have to pre-qualify before I can see a home? My husband and I have found a couple houses we are interested in looking at. We are working

Asked by myndidanee, Richwood, OH Thu Feb 16, 2012

witha lender who has told us after minor credit repair (which we are pro-active in at this time) we would potentially qualify for a loan between 110-120k. We are only looking for homes under 80. We do not feel that we are looking above what we can afford. We would like to look at homes so that we can have an idea of what type, style, size etx house we consider at crunch time. We are also relocating an hour away from our current home so it is not like we can easily drive by a house as it listed. We also feel as the majority of the homes we are looking at have been on the market for quite some time, and dont feel like we are wasting anyones time. We are not only looking for a home but a realtor that would appreciate us looking. As most people know Open house just dont happen anymore!

Help the community by answering this question:


From my perspective you are pre-qualified enough to look. You will want something more formal before making an offer. But you are exactly right that you have to look to know what kind of house you want and what area you want to be in. Feel free to contact me if you I can help you.
0 votes Thank Flag Link Fri Feb 17, 2012
If you were to come to me to view homes I would ask to talk to your lender and for you to talk to one of the lenders that I work with. I have had people that were told that they were preapproved if they did a few steps that could not qualify for a loan.
You are willing to make a commitment by driving two hours to look at homes that you currently can not purchase but currently you can not complete a transaction.
You have to realise that a REALTOR® gets paid for closing sales not showing homes. Showing homes is an expense and in addition costs time.
The sellers also have to vacate the property. There are a number of times I have scheduled showing on properties where the buyer just had to see it now. I have watched as I am waiting at the property families load up in the car or van to vacate the property for a showing. to never have the buyer show up. Many times the reason is "something came up' or 'I forgot'. We are all just trying to be more respectful of everyones time and effort in the process.
0 votes Thank Flag Link Fri Feb 17, 2012
Realtors are asking you to get pre-approved partly because of the time involved but, more importantly, to respect the home sellers. Most sellers spend a lot of time cleaning and preparing their home before showings, besides making arrangements for pets, children etc. Sellers expect the buyers to be qualified to purchase before they spend their time preparing the home and the inconvenience of having to leave their property to allow the showing. You may have better luck trying to see homes that are vacant so that sellers are not upset.
Tonya Brown
Coldwell Banker King Thompson
0 votes Thank Flag Link Thu Feb 16, 2012
Hi myndidanee,

Most (if not all) sellers ask for a pre-approval to be submitted with offers. That being the case, sellers allow Realtors to show their homes assuming the buyers want to purchase at that time and aren't just looking. (It does take the seller some time to make sure their homes look nice/neat for each showing). Asking for a pre-approval shows the seriousness of the buyers and weeds out the looky loos.

Shanna Rogers
SR Realty
0 votes Thank Flag Link Thu Feb 16, 2012
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