Ready Set Sold with Bryan Vogt #28-04: Dave Hohe and Deb Rust of New American Home Loans: Why a seller should meet with a lender before selling their home

Welcome back to Ready Set Sold. I’m your host Bryan Vogt and I am pleased to have Deb Rust with New American Funding with us she’s been with us last two segments of the show and Dave was with us the first segment.
He had to break away understandable but Deb’s agreed to stay on and talk about some more about the DES lending. The lending process and let’s face it in real estate you don’t have to be too knowledgeable even on the lending process or even on the real estate process that the key factor and everything is money and if you don’t have the money the negotiations doesn’t really matter and we’ve had situations
where unfortunately the parties came to agreement but the money’s wasn’t there.
we talked in the last segment how with New American Funding and Deb Rust how you can make that process go much quicker and much smoother and when you’re looking for a lender that’s definitely something that you really need to ask how long is this going to take. It varies so much we’ve again last
leg my talk about banks because I might take two weeks that may not be what you want to hear when you have a hot market like we do right now in the housing market.
With that said I wanted to have to talk about the fact as I talked the last segment we recently just had a
situation where we know some sellers if they were able to sell their house in two days and they got full price and all of a sudden they were exactly completely happy but then all of a sudden a little bit of fear got into their voice and they said oh my gosh well okay now we need a lender now we need to get this Cohen and you know now what do we do you know and again it’s a nice problem to have but there’s ways to kind of get away from that and one of the things that we’re always encouraging is to talk to the lender when you put your house on the market.
Meaning expecting good things hopefully you and your agent expecting a quick sale and fast and top dollar a Deb you work with people in that same situation correct yeah you know what you find it homeowners currently you know what could they could have been in their home for 20 30 years and and unaware of you know what’s lending practices have changed and what’s going to be required or even in a lot of cases what their scores are you know so you know if you’ve been sitting you know pretty or sitting tight on your in your house and making your payments on time and you know yeah you find yourself in a situation where you’re going to need financing and you need to know how much you need to know your buying capacity.
You know all that so yeah it’s never a bad idea as a seller to you know hope for you know the I guess plan for you know a quick sale just so you can have your ducks in a row well and as it goes through it again the same process we talked about earlier segments the same process you know just because you’re so now those same things come into play you still going to have to have your tax returns and you’re going to have to have all those same items that that’s correct right done right yeah absolutely and so having those things ready to go it just gives more sellers a peace of mind when they sold their home.
That they know direction they’re going that they know what they can afford and it just gives them more confidence to buyers and I’m sure you found that to be true with buyers and you know sellers that now become Meijer correct right absolutely I’d be you’re amazing sometimes I how many settlers come into the barn the market as a buyer and think that the only loan possibility is one with 20% down or you know whatever the cases might have been you know in years past.
So it’s kind of neat to educate the first time homebuyer again which isn’t you know technically a first-time homebuyer but yes it’s important to get in front of them we owe a debt and that’s something that that I I hear you loud and clear and being in the business and you being the business period of time you have it’s funny sometimes we forget you know I always have to be reminded I’m sure you do too is forget what we already know there’s so many different things that we know and again that 20 percent you know 10 years ago 20 years ago maybe 30 years ago was almost a given you almost had to have that used to have
10% and I act now if you’ve been living in a house for 10 years you basically really are a new homebuyer right.
I mean this little while right all right absolutely I blow people’s mind sometimes with you don’t you know you don’t need a down payment anymore in certain circumstances and that’s just and you know even the interest rate being in the single digits you know it’s if you haven’t if you hadn’t bought in a while it it’s changed I always joke I’ve been doing this for 23 years and I’m no smarter than someone that just joined the business last week not because it changes I know that’s a good point and I think to the follow up on that though is that I I’ve known that for a while now and I appreciate what you’re saying but she really does know her stuff and she knows how to help well that’s and that’s really important is making those
connections making things happen.
But I’ve been talking about that with the sellers and I’ll speak down on the selling side sometimes sellers have it locked in their head that they have to put 20% down on the next house and so when I say about talking to a lender prior maybe the day or two before putting a house on the market someone like Deb rust a new American funding that all of a sudden those things you know you have more latitude so we always want to get top dollar but maybe we’re only able to get X amount hours but it’s not that 20% of got that 10% there are a lot of great programs and the cost was interest rates so low right Deb that has
little or no effect all right it could be the thing that pushes a seller off the fence of accepting a little bit
lesser offer if they knew they didn’t need you know the proceeds necessarily to get something else.
And I think that’s what we’re always talking about it’s what this program is about I know that’s what Deb’s that you and Dave talk about all the time we’re informational specialists that’s really what we give and that’s what you should be looking for in a realtor and a lender home inspector or anybody in the process insurance that were informational providers and what we do is we give information of what’s going on currently and give you the best advice and that usually and I think you’d agree with this that’s advice that we’ve seen other people do ours have gone through this path and this worked out well correct right.
Absolutely yeah there’s nothing I wouldn’t trade my 23 years for anything just for the fact that I’ve seen almost everything so I know the workaround yeah it’s true and I think you would agree with this I’ve been in this pro quo while I say that and tomorrow I’m gonna see something like well hey running out of time here I want to thank again Dave holy that was in the first segment and of course our special guest also Deb rust a new American funding joining us today the information has again been timely and been great I want to thank you so much Deb for joining us today
thank you always for having me I love it all right with that we’re gonna be going and talking about our tip of the week in the next segment in the meantime take up the buck it’s free so a little bit of information go to ready said so org not daikon pick up a free book twelve proven steps to get your home sold for top dollar and a fast sale on single as much week with that we’ll see him.
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