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 something to this real estate 'karma' that when you find the perfect home, someone else has found it, too - and it's the same home you are looking at.
For more information and set up a free consultation, contact me today!
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 something to this real estate 'karma' that when you find the perfect home, someone else has found it, too - and it's the same home you are looking at.
For more information and set up a free consultation, contact me today!
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