Home Buyer Tip of the Day #10

Why I Won't Show You a Home

I get a lot of online leads and calls from buyers who want to go right out and see a home that day. The problem is, they aren't pre-approved for a mortgage. Here are some reasons why I won't show you a home without a pre-approval from a bank or mortgage originator:

  1. When you get a pre-approval, it tells me that you are making a commitment to buy sometime in the future. It doesn't have to be tomorrow, but if you don't have the intent to buy a home, there is no reason to show you homes. That's what public Open Houses are for.
  2.  When you have a pre-approval, I have a piece of paper that confirms your identity. Realtor® safety is a concern for everyone and it helps me feel more comfortable knowing that a bank or mortgage professional has vetted the information I received online. Bascially, I would like to know that you are you!
  3. What if you do fall in the love with the first home we see and there are three other interested parties? In that case, we will not have the time to get a pre-approval in time so that we can make an offer at the same time or before the other parties.
  4. Because I can't submit an offer without it! I need either a pre-approval or proof of funds to submit with any offer we make on a home.
  5. Sellers don't want people viewing their home who can't afford it. That's what public Open Houses are for. Imagine the homeowners thoughts if they found out that they cleaned up, took their kids and dog out of the house at 5 PM on a weeknight, just to find out later that the prospective buyers did not have the assets to buy their home. Sellers want to sell, but when it comes to private showings, those are restricted to those pre-approved at or above the list price.

So don't get upset when I won't take you out to see a home - get a pre-approval instead!