CAN I WRITE AN OFFER AND THEN GET PREQUALIFIED? Simply - sure, but your offer won't get anywhere.  The seller will counter back "subject to reviewing proof of funds to close" and the offer will still be open.  This means anyone else can buy the house before you get that project done. Then, disappointment all around. I know it sounds like a simple project to get through the full approval process, and it used to be...but things have changed and so have the rules.  I have had some clients take a week, two weeks, or sometimes more to get the package put together that feels comfortable to them.  There are many things to consider like interest rates, costs of the loan, getting things cleared up like student loans, child support, estate issues, or selling an existing house! While it is easy to contact a lender and get the process started , it's much more efficient to make sure all of your ducks are in place and then go find the home of your dreams! There is so...

Why do I have to be prequalified first, all I want to do is just start looking around? Starting to look around at homes is a more sophisticated process than most people would believe.   If the homes are occupied, the owners need notification that someone is coming to see their home, which usually takes a lot of preparation and scheduling on their part.   Even if the homes are vacant, the Realtor has to set up the appointments to see the homes and plan a route.   It takes quite a lot of time and effort for the Realtor, the buyers and the sellers. If you find the perfect home, and you haven't started the process to be pre-approved, you won't have time to do it before you write the offer.   Sellers will not entertain an offer on their home until they know that you can pay for it.   Someone else will buy the home you have just picked out. If you are curious about neighborhoods and areas, open houses are a great way to get acquainted with how homes...

I WANT TO BUY A HOME, HOW DO I START? When you are ready to buy a home, contact a real estate professional.  The best Realtors will have you meet them at their office or set up a telephone conference to discuss your needs.    The first thing you must have done is to be PREQUALIFIED by a reputable lender .    They will discuss details about your credit history, your work history, and your budget to determine which loan is best for you.   It is essential to do this step first.   The loan process has become increasingly more complicated and it's much easier to move through the process with a good real estate broker and a good loan officer behind you.  They will know how to anticipate the unexpected and make the process much more pain free!         For a free consultation on how to buy a home, please feel free to contact me anytime!

Albuquerque real estate stats Inventory is lower and sales of existing homes have started to increase!  This is a great time to buy that home that you have been waiting for .  While we are in a somewhat slow moment with the NM State Fair, Balloon Fiesta and other upcoming holiday activities, the serious buyers are out to get the best homes they can find, and serious sellers are bucking the trend to 'wait for spring' and putting their homes on the market because they need to move now! It's always a great time to find your nest! Call or email me today when you are ready for a complimentary real estate consultation.