Bryan Vogt: Welcome back to Ready, Set, Sold and I want to kind of recap what we talked about today. We covered a lot of information. We talked about how important it is to have the updates done and it really is. It’s crucial, it’s getting top dollar, it’s not losing money, it’s not being in the market. If you’re in that situation right now and hopefully you’re not, but if you’re on the market right now and you don’t know what’s going on, you’re not sure, your agent’s not giving you the information that you need to do, get the book.
Just go in. You’ve got a realtor, that’s fine. You read the book, read a section on there about the updating, give it to them, him and her, and get it done. Get your house on the … Get going on with your life. Go to readysetsold.org net.com readysetsold.org net.com, get the book.
We talked about, again, having updates how crucial it can make you or break you. It can change the whole outcome of how things going. That is so crucial. You have to have all three things. You have to have the painting, you have to have the updates in the kitchens, the bathrooms, and you also have to have the flooring. All those things have to be taken care of. Doing just one is not going to work, it’s going to create just as many problems as if you had done nothing, so that’s not the option.
However, we also talked about, and Dave, as you brought up, there’s even more options when it comes down to the, what we call 203K, it basically it’s just a way to get people into a home that they want.
Dave Hohe: Correct.
Bryan Vogt: Make their decisions on what they want and that was a conventional loan that can be done with that too, correct?
Dave Hohe: Yes sir.
Bryan Vogt: And so there are so many options and that’s why none of the rules state, but the lending side and just listening to what Deb had talked about. All those things, and Dave talked about, you have to be pulling, everybody has to be on the same team, right Deb?
Deb Rust: Absolutely. Absolutely.
Bryan Vogt: And it’s just crucial because people have to be working together. We also talked about the difference between a pre-qualification letter and a pre-approval letter and they are night and day. If you’re the seller, you’ve sold your house and now you’re going to buy a home, get the information Deb spelled out. So great, it doesn’t take that much longer does it Deb?
Deb Rust: Oh absolutely not.
Bryan Vogt: Right. And especially with technology today. My goodness, you can scan and e-mail the W-2s and the tax returns and whatever.
Deb Rust: You’re going to do it anyway, so just do it up front and be sure.
Bryan Vogt: And that’s a great point. Now that’s an excellent point because yeah it’s going to come anyway, so why not know, have that knowledge as a buyer, and you as a seller understand how important that is too. That’s the key part. Your agent, that should be a given that they know that difference between a pre-qual and a pre-approval. And for goodness sakes if they have no letter at all, really think hard about what you’re doing here.
Pre-approval is what you’re looking for, but if they have no letter at all and you are selling and you’re taking that on, that is a risk that you really just don’t want to have. It doesn’t meant that it’s going to go down the tubes, but why take the chance.
Dave Hohe: Yeah and there’s an old saying in our business, if I might kind of expound on that, that “Time causes more problems,” so the quicker that we can get to the closing table, the more we’re going to avoid problems that may come later down the road, so it’s critical to get that information up front and get the approval as quickly as possible.
Bryan Vogt: Great. And I tell you what, we’re going to wrap up. The next week we’re going to be talking with what updates you need to do and what updates can cost you thousands if you make the wrong decisions and this one you really, really want to pay attention to. You really want to come back next week and listen to, because this is where the money really hits the road, when people make the wrong decisions, and they usually get that from the TV shows that are on the east coast and west coast and leads to disaster, just not a good thing.
So with that said, hey thanks so much everyone for joining us. Thanks so much for having Deb Rust, Dave Hohe from New American Funding, thank you so much. Make it a fantastic week. Keep listening to Ready, Set, Sold with your host Bryan Vogt.
Ready Set Sold with Bryan Vogt #03-05: Dave Hohe & Deb Rust New American Funding: Recap and Preview of Next Week: Right and wrong things to update
June 10, 2017