Your preapproval letter attached to your offer makes the seller take it seriously and can be the difference between acceptance and a counter or rejection. For example, when Ryan and Brittany felt ready to buy their first home, they met with a lender they had chosen after talking to several possibilities.
Archive for November, 2011
Mistake #5: Neglecting to Get a Preapproval Letter
November 5th, 2011
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A branch manager at First American Title Company has estimated that about 30 percent of the transactions at her branch fall apart or are delayed before closing. The most common reason for this is the buyers’ failure to be preapproved for a loan before making an offer. This mishap can result in lost time and [...]
Mistake #4: Alienating the Sellers, Thereby Losing the Deal Part (2)
November 1st, 2011
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Don’t ask sellers what would the lowest price would be that they would accept. This puts them on the defensive, makes you look like a predatory bargain hunter and hurts your credibility. Again, if you feel the price is too high, make a written offer and let them accept or counter with their lowest price.
