It always humours me when I\u2019m dealing with a newer client and when I ask them if they\u2019ve been to the bank or have talked to a mortgage broker, most all seem to get defensive\u2026like, \u201cOf course I have the money!\u201d Maybe it\u2019s my approach.It seems to me in that moment that either the buyer thinks that the question<\/p>\n
is too personal, over the top and not part of the real estate equation or that I\u2019ve picked them out of a crowd and questioning their self worth. It\u2019s a question I HAVE to ask and need to know for many reasons. It IS part of the real estate equation and a big part of it. It\u2019s the deciding factor, the guts, the know all. And it\u2019s not about whether or not you can afford it, it\u2019s about how much the bank is prepared to lend you, at what rate and for what type of building.<\/p>\n
Real estate agents need to know if you\u2019ve been pre-approved for these reasons:<\/strong><\/p>\n Your benefit:<\/strong><\/p>\n Writing the offer<\/strong> So the next time you want to start working with a realtor\u2026just remember, there aren\u2019t anymore financial secrets.<\/p>\n","protected":false},"excerpt":{"rendered":" It always humours me when I\u2019m dealing with a newer client and when I ask them if they\u2019ve been to the bank or have talked to a mortgage broker, most all seem to get defensive\u2026like, \u201cOf course I have the money!\u201d<\/p>\n","protected":false},"author":2,"featured_media":8763,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5,3],"tags":[],"class_list":["post-459","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgages-finances","category-realtors"],"yoast_head":"\n\n
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\nSomething you might not know as a buyer is that when the offer is written, the realtor will be filling out a mandatory Annex A, which is all about the financial part of the deal. On it it will state how much of a deposit you will put down, the mortgage amount, the interest rate, the term and amortization length. Your realtor will also be calling the banker or mortgage broker when the offer has been accepted to pass on all the necessary paperwork. Also, since getting the mortgage is on a short timeline, your realtor should be on top of things, making sure there aren\u2019t any delays. If there is a time delay, it just might not sit well with the seller and your deal could lapse.<\/p>\n