So you've made the big decision ~ Terrific! Now that you've decided to move forward, I offer the following to make the process an easier endeavor:
You're a homeowner whose decided to sell...so the first step would be to think about a clear title. Has anything occur ed that you might have paperwork to support? It will pay dividends if you make this paperwork available now... Paid off a loan? Involved in a Divorce? Death of another recorded Owner? Power of Attorney needed? Involved in Bankruptcy proceeding? Has your property been liened for unpaid bills or other reasons? Now is the time to dig up that paperwork. Your Realtor and the Title Company insuring the sale to your Buyer will require it so why not be prepared? This will really save you a lot of headache at the Eleventh hour.
As a Buyer, the first thing you should do is to engage a Bank or Loan Broker to put your financing in place. Searching for property without your financing ready is like going to a gunfight with bullets... A Buyer should not only have his loan in place but also should have a pre-approval letter in hand, not a pre-qualification letter. There is a difference. A pre-qualification letter means the buyer meets all the requirements concerning income, credit and debt ratio. A pre-approval letter means he's approved and secured. A buyer with pre-approval is a stronger contender in a bidding war. Considering my years of experience, there are other things that might be done to bolster the strength of your offer and I would be happy to discuss the topic with you confidentially, with no obligation.
When you consider that Lenders are not only involved lending you funds to acquire your home but also the entities reviewing your contract for acceptability if you're offering on a Short Sale or REO (foreclosed property), you don't stand a chance if you're not playing on the same field with them. Give yourself a chance-Get in the game
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