Have you ever heard of the phrase “put the cart before the horse” when it comes to real estate?
Wiktionary Definition: put the cart before the horse
(idiomatic) To put things in the wrong order or with the wrong priorities; to put something inconsequential as more important than something more essential.
I am always excited to meet buyers who have been looking for homes. Their enthusiasm and desire to find the perfect property for them is infectious! Buyers are what sell homes, and so I enjoy meeting them, particularly at Open Houses. I enjoy talking to buyers about square footage, number of rooms, area schools, nearby shopping, etc.
Then here comes the question: Have you talked to a lender yet?
Oftentimes, they have not. The buyers I’ve talked to lately seem to be quite sure that they qualify – until the loan officer pulls their credit. Bummer! They’re not qualified for the house! Turns out that something is on their credit report that they thought was taken care of. There may be late fees and other incidentals which they didn’t anticipate. Who doesn’t enjoy looking at homes? However, when it’s time to purchase a home, one has to be ready. It’s like grocery shopping and you left your purse or wallet at home! Now what happens?
In a few weeks there is an offer on THEIR house!
If you find a house that you absolutely love only to find out afterward that, much to your surprise, that you can’t buy it – that would be disappointing, wouldn’t it?
No one puts their shoes on before they put on their socks, do they? Let’s get the priorities in order so that when you do see the home of your dreams, you know it’s within your budget and you have a pre-approval letter and plan of action.
So, for all you awesome buyers out there: Don’t put the cart before the horse. Here are the first 3 steps of the home buying process:
1. Talk to a loan officer lender to get pre-approved or at least find out where you stand.
2. Get that pre-approval letter to get the home buying process to a good start.
3. Now it’s time to go house hunting!
I’d love to help you find the right home as well as introduce you to a great loan officer. Why not give me a call!
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