Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com Rochester Real Estate | LOCAL Homes For Sale | Homes for sale in Rochester, NY, LOCAL Rochester real estate listings, market data, REALTOR® info, and high quality content updated every 15 minutes! Wed, 25 Jun 2025 11:50:30 +0000 hourly 1 https://wordpress.org/?v=6.7.2 https://www.rochesterrealestateblog.com/wp-content/uploads/2016/11/cropped-SITE-LOGO-512-x-512-1-32x32.png Why Do Real Estate Agents Ask For A Pre-Approval? – Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com 32 32 June Home Maintenance Checklist: 40+ Must-Do Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/june-home-maintenance-checklist-summer-prep/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20501 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> May Home Maintenance Checklist: 30 Essential Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/may-home-maintenance-checklist/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20484 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> April Home Maintenance Checklist: How To Prepare Your Rochester NY Home For Spring https://www.rochesterrealestateblog.com/april-home-maintenance-checklist/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20364 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> March Home Maintenance Checklist: Get Your New York Home Ready for Spring https://www.rochesterrealestateblog.com/march-home-maintenance-checklist/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20338 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Buy a House in New York https://www.rochesterrealestateblog.com/buy-a-house-in-new-york/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19906 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Sell a House in New York https://www.rochesterrealestateblog.com/sell-a-house-in-new-york/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19905 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Risks of Buying a Non-Warrantable Condo In New York: What You Need to Know https://www.rochesterrealestateblog.com/non-warrantable-condo/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19796 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Builders Should Know About Spec Construction Loans In New York https://www.rochesterrealestateblog.com/builders-spec-construction-loans/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19795 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Moving To The Finger Lakes Region Of New York | Guide To Relocating To The Finger Lakes https://www.rochesterrealestateblog.com/moving-to-the-finger-lakes-region/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19875 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Navigating the Numbers: The Pros and Cons of Using Online Home Value Estimators For New York Real Estate https://www.rochesterrealestateblog.com/pros-cons-online-home-value-estimators/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19794 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Role of Location in Home Valuation In New York https://www.rochesterrealestateblog.com/role-of-location-home-valuation/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19768 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Lowe’s vs U-Haul: A Review of Truck Rental Companies https://www.rochesterrealestateblog.com/lowes-vs-uhaul/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19758 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Understanding the Importance of a Seller’s Property Condition Disclosure https://www.rochesterrealestateblog.com/property-condition-disclosure-statement/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19632 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What are Delayed Showings and Negotiations in Real Estate In New York? https://www.rochesterrealestateblog.com/delayed-showings-negotiations/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19547 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 8 Viable Tactics to Selling Your Home and Moving Out of State https://www.rochesterrealestateblog.com/selling-home-moving-out-of-state/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19542 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Unconventional Methods for Selling a House: Thinking Outside the Box https://www.rochesterrealestateblog.com/unconventional-methods-for-selling-a-house/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19519 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Sell My House Off Market: Pros and Cons Explained https://www.rochesterrealestateblog.com/sell-house-off-market/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19503 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What is PITI and How Does It Affect Your Mortgage https://www.rochesterrealestateblog.com/what-is-piti/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19498 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Set A Home Renovation Budget https://www.rochesterrealestateblog.com/home-renovation-budget/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19490 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Does A Co-Borrowers Credit Scores Affect A Home Purchase? https://www.rochesterrealestateblog.com/co-borrower-credit-score/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19474 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> New Construction Final Walk-Through Checklist: Ensuring a Seamless Home Inspection https://www.rochesterrealestateblog.com/new-construction-final-walk-through/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19458 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Essential Tips for Pumping a Septic Tank: What You Need to Know https://www.rochesterrealestateblog.com/pumping-a-septic-tank/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19450 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Can You Submit Multiple Offers On Homes At Once – A Legal And Ethical Analysis https://www.rochesterrealestateblog.com/multiple-offers-on-homes-at-once/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19414 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Get Your Home Photo Ready for Real Estate Listings https://www.rochesterrealestateblog.com/real-estate-photo-ready/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19409 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does a Home Builder’s Warranty Cover? https://www.rochesterrealestateblog.com/home-builders-warranty/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19394 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> July 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/july-2023-rochester-ny-real-estate-market-update/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19403 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Who Pays Real Estate Commission When You Buy or Sell a Home https://www.rochesterrealestateblog.com/real-estate-commission/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19366 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Quitclaim Deeds: What You Need to Know https://www.rochesterrealestateblog.com/quitclaim-deeds/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19358 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Know About Selling a Home As Is for Cash https://www.rochesterrealestateblog.com/selling-home-as-is-cash/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19347 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Know if My House Has Paranormal Activity https://www.rochesterrealestateblog.com/is-my-house-haunted/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19342 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Why Find The History of a House https://www.rochesterrealestateblog.com/find-history-house/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19316 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> June 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/june-2023-rochester-ny-area-real-estate-market-update/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19313 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does a Real Estate Lawyer Do? https://www.rochesterrealestateblog.com/real-estate-lawyer/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19181 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> May 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/may-2023-rochester-ny-area-real-estate-market-update/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19162 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Know About Buying a Home For The First Time https://www.rochesterrealestateblog.com/buying-home-first-time/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19058 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> <strong>What Should a Buyer Look For at a Home Inspection?</strong> https://www.rochesterrealestateblog.com/what-look-for-home-inspection/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18983 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Companies That Buy Houses For Cash Reviewed https://www.rochesterrealestateblog.com/companies-buy-houses-for-cash/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18889 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Does Home Staging Work and What is The Cost? https://www.rochesterrealestateblog.com/does-home-staging-work/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18814 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Avoid When Getting a Mortgage https://www.rochesterrealestateblog.com/avoid-when-getting-mortgage/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18797 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> <strong>5 Options For Replacing a Roof Reviewed</strong> https://www.rochesterrealestateblog.com/replacing-roof/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18771 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are Restrictive Covenants in Real Estate? https://www.rochesterrealestateblog.com/restrictive-covenants/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18714 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Can The Court Force The Sale of Your House in Divorce? https://www.rochesterrealestateblog.com/court-force-sale-divorce/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18693 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Real Estate Agent vs. Broker: What&#8217;s The Difference? https://www.rochesterrealestateblog.com/real-estate-agent-vs-broker/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18650 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Determine Square Feet In Your House For More Accurate Property Estimates https://www.rochesterrealestateblog.com/determine-square-feet/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18167 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 3 Things That Often Results in a Real Estate Agent Getting Sued https://www.rochesterrealestateblog.com/real-estate-agent-sued/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18133 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Top 5 Types Of Home Inspections Buyers Should Consider https://www.rochesterrealestateblog.com/5-types-home-inspections/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18119 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Pros And Cons Of Rent To Own Homes: What You Need To Know https://www.rochesterrealestateblog.com/pros-cons-rent-own-homes/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18104 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Smart Things To Do Before Moving That Will Help Ease Your Transition https://www.rochesterrealestateblog.com/things-before-moving/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18084 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Become a Real Estate Agent https://www.rochesterrealestateblog.com/become-real-estate-agent/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18071 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Renting A House Or An Apartment: Which Is The Better Option https://www.rochesterrealestateblog.com/renting-house-apartment/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17871 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The 5 Most Important Factors To Consider When Buying A House https://www.rochesterrealestateblog.com/5-factors-buying-house/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17851 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Buyers And Sellers Need To Know About An Appraisal Gap https://www.rochesterrealestateblog.com/appraisal-gap/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17827 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Pros And Cons Of Renting With Roommates – What You Need To Know https://www.rochesterrealestateblog.com/renting-with-roommates/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17794 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 6 Things You Should Know About Buying Land https://www.rochesterrealestateblog.com/things-know-buying-land/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17773 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Long Should Home Sellers Wait To Respond To An Offer On Their Home? https://www.rochesterrealestateblog.com/home-sellers-wait-respond-offer/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17745 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Buy A House With A Low Credit Score https://www.rochesterrealestateblog.com/how-to-buy-a-house-with-a-low-credit-score/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16819 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Things To Consider When Shipping A Car https://www.rochesterrealestateblog.com/things-to-consider-when-shipping-a-car/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16248 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Home Depot Truck Rentals: What to Know Including Pricing https://www.rochesterrealestateblog.com/home-depot-truck-rentals-what-to-know-including-pricing/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16156 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 16 Things To Do Before Listing Your Home For Sale https://www.rochesterrealestateblog.com/16-things-to-do-before-listing-your-home-for-sale/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16138 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Biggest Home Inspection Mistakes to Avoid https://www.rochesterrealestateblog.com/biggest-home-inspection-mistakes-to-avoid/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16112 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Your Credit Score Impacts Your Ability To Buy A House https://www.rochesterrealestateblog.com/how-credit-score-impacts-buying-house/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16086 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Winter Home Selling Mistakes | 7 Errors Made While Selling A House During The Winter https://www.rochesterrealestateblog.com/top-winter-home-selling-mistakes/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16051 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Winter Home Buying Mistakes | 11 Errors Made While Buying A House During The Winter https://www.rochesterrealestateblog.com/winter-home-buying-mistakes/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16013 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Address Change Form Should I Use At The Post Office? https://www.rochesterrealestateblog.com/address-change-form-post-office/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15981 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does Contingent Status Mean in Real Estate? https://www.rochesterrealestateblog.com/what-does-contingent-status-mean-real-estate/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15956 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> DIY Renovation Ideas For Your Backyard https://www.rochesterrealestateblog.com/diy-renovation-ideas-backyard/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15937 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Rent Your First Apartment Guide https://www.rochesterrealestateblog.com/how-to-rent-an-apartment/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15931 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Tips For Selling A Home Virtually https://www.rochesterrealestateblog.com/tips-selling-a-home-virtually/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15907 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Complete Winter Storage Checklist For Your Belongings https://www.rochesterrealestateblog.com/winter-storage-checklist/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15885 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Waive My Home Inspection When Buying A House? https://www.rochesterrealestateblog.com/should-i-waive-my-home-inspection/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15870 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Biggest Self Storage Companies Reviewed https://www.rochesterrealestateblog.com/biggest-self-storage-companies/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15836 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Earnest Money and House Deposits Explained https://www.rochesterrealestateblog.com/earnest-money-house-deposits-explained/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15760 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Moving Mistakes To Avoid https://www.rochesterrealestateblog.com/moving-mistakes-to-avoid/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15568 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Mortgage Myths | Demystifying Common Home Loan Misconceptions https://www.rochesterrealestateblog.com/top-mortgage-myths/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15102 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> First-Time Home Buyer Mistakes to Avoid https://www.rochesterrealestateblog.com/first-time-home-buyer-mistakes/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14815 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 10 Tips For Adding Appeal To Your Home This Summer https://www.rochesterrealestateblog.com/10-tips-adding-appeal-to-home-this-summer/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14237 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Exploring The Merits of Smart Home Technology When Selling a Home https://www.rochesterrealestateblog.com/smart-home-technology-selling-a-home/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13782 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Frequently Asked Questions From Home Sellers https://www.rochesterrealestateblog.com/top-frequently-asked-questions-home-sellers/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2424 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> First Time Home Buyer Programs In Rochester NY &#8211; Updated January 2025 https://www.rochesterrealestateblog.com/first-time-home-buyer-programs/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock http://rochesterrealestateblog.com/?p=580 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How New Doors &#038; Windows Can Boost Your Home Value https://www.rochesterrealestateblog.com/how-new-doors-windows-boost-your-home-value/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13643 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top 5 Things To Know When Flipping Your First House https://www.rochesterrealestateblog.com/5-things-to-know-when-flipping-your-first-house/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13574 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are The Best Mortgage Options for Self Employed Borrowers? https://www.rochesterrealestateblog.com/mortgage-options-for-self-employed-borrowers/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13450 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top 10 Best Places To See Christmas Lights In Rochester NY https://www.rochesterrealestateblog.com/top-10-best-places-see-christmas-lights-rochester-ny/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=10236 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are The PROs And CONs Of Multifamily Homes? https://www.rochesterrealestateblog.com/what-are-the-pros-and-cons-of-multifamily-homes/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13219 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Low-Cost Home Improvements Should You Make Before Selling Your Home? https://www.rochesterrealestateblog.com/low-cost-home-improvements-you-should-make-before-selling-your-home/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13114 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 15 Things Millennial Home Buyers Look At While Buying A House https://www.rochesterrealestateblog.com/15-things-millennial-home-buyers-look-at-while-buying-a-house/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13028 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Does A Fence Increase The Value Of Your Home https://www.rochesterrealestateblog.com/how-does-a-fence-increase-the-value-of-your-home/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12995 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Simple &#038; Low Cost Fixes To Make Your Home More Appealing To Buyers https://www.rochesterrealestateblog.com/5-simple-and-low-cost-fixes-to-make-your-home-more-appealing-to-buyers/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12779 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Improve A Homes Curb Appeal In Rochester NY https://www.rochesterrealestateblog.com/how-to-improve-a-homes-curb-appeal-rochester-ny/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12665 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 7 Ways to Create an Energy-Efficient Home While Conserving Your Budget https://www.rochesterrealestateblog.com/7-ways-create-an-energy-efficient-home/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12633 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Hiring Movers Vs. Moving Yourself | The PROs &#038; CONs Of Each https://www.rochesterrealestateblog.com/hiring-movers-vs-moving-yourself/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12592 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should You Pay Off Student Loans Before Purchasing a Home? https://www.rochesterrealestateblog.com/pay-off-student-loans-before-purchasing-a-home/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12531 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Build A New Home Or Buy An Existing Home? https://www.rochesterrealestateblog.com/should-i-build-a-new-home-or-buy-an-existing-home/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2497 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Buying A Condo Vs. Renting A Condo | What Are The PROs &#038; CONs? https://www.rochesterrealestateblog.com/buying-a-condo-vs-renting-a-condo/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12402 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 9 Money Saving Moving Tips | How To Cut Costs When Moving https://www.rochesterrealestateblog.com/9-money-saving-moving-tips/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12341 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Create a Proper Home Maintenance Checklist https://www.rochesterrealestateblog.com/how-to-create-a-proper-home-maintenance-checklist/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12300 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Tips For Tenant Screening | How To Weed Out Bad Tenant Applicants https://www.rochesterrealestateblog.com/tips-for-tenant-screening/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12291 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Social Media Blogs For Real Estate From 2017 https://www.rochesterrealestateblog.com/best-social-media-blogs-2017/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12045 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Home Improvement Blogs From 2017 | Advice For Home Remodeling https://www.rochesterrealestateblog.com/best-home-improvement-blogs-2017/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12044 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Mortgage Blogs From 2017 | Advice For Home Financing https://www.rochesterrealestateblog.com/best-mortgage-blogs-2017/ Tue, 08 Dec 2015 12:30:23 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12043 Top Reasons Why Real Estate Agents Request A Pre-Approval Letter Before Showing Houses [caption id="attachment_3483" align="aligncenter" width="450"]Why Do Real Estate Agents Ask For A Pre-Approval Why Do Real Estate Agents Ask For A Pre-Approval[/caption] One of the most common home buying myths that exists is that when buying a home, you should find a home before getting a pre-approval.  There are some real estate agents who will show a home, or several homes, to a buyer without knowing whether a buyer is pre-approved or not.  This is a trait that you will find in an agent who likely does not sell a lot of homes. Some of the most common things buyers say who do not want to get a pre-approval include;
  • "I'm going to wait until I find the right home to speak with a mortgage company."
  • "I don't need to speak with a mortgage company first, I'll be able to get a mortgage, no problem."
  • "I'm just looking at homes right now."
One of the most important things to first understand when buying a home is what the difference between a pre-approval and a pre-qualification is.  Many buyers don't realize the difference when in fact, there is quite a difference. A top notch buyers agent will request a pre-approval letter from a buyer prior to showing them a home.  There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.  Read on to find out why this is common practice of top real estate agents before you get upset when a real estate agent requests a pre-approval letter before showing you homes.

Realtor Safety

Arguably the biggest reason a real estate agent will request a pre-approval prior to showing a buyer homes relates to the safety of themselves.  Realtor safety has been a very popular topic in the news as of late.  There has been in the past year several Realtors who have tragically lost their lives while performing their day-to-day tasks. You may ask yourself, how does requesting a pre-approval letter provide any safety for a Realtor?  If a buyer has been to a lender to discuss their mortgage options and has obtained a pre-approval, the lender has done their research on the potential buyer(s).  The lender has information on the buyer such as their social security number, their job history, and other pertinent information. Requesting a pre-approval from a buyer is one of the top Realtor safety tips that is preached by real estate professionals.  If you're in the market to buy a home and haven't received a pre-approval and a real estate agent requests it, remember, one of the biggest reasons they are is for their own safety.

Provides Proof Of Ability To Obtain Financing

[caption id="attachment_3484" align="aligncenter" width="450"]Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home Pre-Approvals Provide Proof A Buyer Is Not Lying About Their Ability To Obtain Financing For A Home[/caption] Another popular reason real estate agents request a pre-approval before showing houses to a buyer is because it provides proof of the ability to obtain financing.  The reality is that not everyone can get a pre-approval.  Real estate agents want to make sure that a buyer can get a pre-approval before spending their time driving around town showing houses to a buyer who cannot obtain financing. Nine out of ten "serious" buyers will have no problem with attempting to get a pre-approval.  Getting a pre-approval does not take a ton of time to obtain, in fact, a top lender should be able to pre-approve a buyer within a few days of receiving a pre-approval application. Buyers who expect real estate agents to show them homes without being approved is one of the most annoying things buyers do that real estate agents hate.  Buyers shouldn't take it to heart when a real estate agent requests a pre-approval.  A real estate agent who is showing homes to a buyer who hasn't taken the time to get a pre-approval is actually just running a very expensive taxi cab and tour guide business.

Saves Time & Frustration

In today's society, most people are very busy and don't have boatloads of extra time.  Another top reason why a real estate agent will request a pre-approval prior to showing a buyer homes is they are not only attempting to save themselves time but also the buyer. A pre-approval provides a buyer, and their real estate agent, information as to what price range they should stay within as well as the range of yearly taxes.  A real estate agent who requests a pre-approval prior to showing a buyer homes is trying to save the buyer time and frustration. It makes absolutely no sense for a buyer who is pre-approved up to a $200,000 mortgage to look at homes that are listed for $300,000.  There aren't many homeowners who are going to accept an offer for $100,000 less than what they are asking for their home, period. A buyer who works with an agent who shows them homes prior to getting a pre-approval is doing a disservice to them self.   What can end up happening is they find out they cannot afford the home they fall in love with which leads to lots of wasted time, frustration, and also heartbreak.

Strengthens Negotiation Ability

[caption id="attachment_3485" align="aligncenter" width="450"]Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength! Real Estate Agents Request Mortgage Pre-Approvals Prior To Showing Homes To Increase Negotiation Strength![/caption] Top real estate agents will request a pre-approval before showing a buyer homes because it strengthens the buyers negotiation ability.  Depending on the local real estate market conditions, if a buyer is attempting to buy a home in a sellers market, it's critical to have a pre-approval before looking at homes. A buyer who has a pre-approval has a distinct advantage over those buyers who decide to look at homes without a pre-approval.  If a seller receives multiple offers on their home, which is pretty common in a sellers market, they are going to select a purchase offer from the buyer who provides a pre-approval. In order to win in a multiple offer situation, it's paramount you have a pre-approval letter.  Having a pre-approval letter is critical, but it also can matter which lender issued the pre-approval.  In most cases, it's best to get a pre-approval from a local mortgage lender and from one who also has a good reputation.

Sellers May Require It

Another reason why real estate agents will request a pre-approval before showing homes to a buyer is because the seller may require it.  Some homeowners do not want buyers walking through their home who haven't spoken with a mortgage company as they do not want to waste their time. Some sellers also do not want unqualified buyers walking through their home, which is a common practice at real estate open houses.  There are many pros and cons to open houses in real estate and certainly one of the drawbacks is there is no ability to screen potential buyers who are visiting an open house.  Don't be offended if a real estate agent requests a pre-approval before showing you a home as it maybe a direct request from the homeowner. In addition to requesting a pre-approval from buyers prior to accommodating a showing, most sellers will also require a pre-approval with any purchase offer.  A purchase offer without a pre-approval is only as good as the paper it is written on as it's nearly impossible for a seller to truly know if a buyer will be able to obtain financing. It's important to note that even though a buyer may have a pre-approval, there are certain situations where a buyer can be denied for their mortgage even after being pre-approved.  The likelihood of this happening is slim, but it's important that buyers and sellers understand that a pre-approval is not a guarantee of funding.

Final Thoughts

Buying a home is a big deal.  There are certain steps that need to be taken in order to be successful.  A real estate agent who requests a pre-approval from a buyer before showing them homes is only attempting to represent the buyers best interests. It's important when buying a home, you hire a top buyers agent.  To successfully hire a top buyers agent in real estate, you should know what interview questions to ask prospective real estate agents. Remember, looking at homes without a pre-approval is silly.  It is not only a huge waste of time for a buyer, but also the seller and the real estate professional.  You will not find top real estate professionals spending countless hours showing homes to unqualified buyers or buyers who are not willing to get a pre-approval.

Other Top Home Buying Resources

If you're buying a home in Rochester, NY, don't be offended if a real estate agent requests a pre-approval letter prior to showing you homes.  If you contact a Rochester real estate agent and they agree to show you homes prior to requesting a pre-approval, you may need to reconsider whether they are looking out for your best interests.   If you haven't hired a Rochester, NY Realtor to represent you in the purchase of a home, contact me, and I'd be happy to assist you with the mortgage pre-approval process.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Why Do Real Estate Agents Ask For A Pre-Approval?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]>