Ready Set Sold with Bryan Vogt #38-03: Dave Hohe: Buyers need to be pre-approved

Welcome to Ready Set Sold, I’m your host Bryan Vogt and I have days full of new American funding with me and one of the things we want to talk about that this happens especially in a hot market in the spring market is looking to shape up to be one of the best market we’ve had in years let me repeat that in years we are doing just about anything and everything to talk with colors that if you’re even thinking about it maybe even tried it last year and didn’t work out whatever that looks like start talking to agents hey call us whatever but start looking at getting your house back on the market that we’re looking expecting some really great things.
With that said though one of the things that we’re coming into with a hot market that can have an effect and that’s actually having the buyer having a pre-approval process and what I gave what all that means is that you’ve turned in your paperwork and it’s not too hard of a process to do correct you are just getting your paperwork in line and the only thing after you’re doing that is you have the appraisal after you get the house that you want.
Yeah Brian that’s right and we see this a lot lately where you know folks are calling in and getting a five-minute pre-qualification letter over the phone from another bank or another lender and there you know placing these offers on houses and sellers are just being a little pickier you know we have realized that a pre-approval which I’ll explain the difference is really giving you and I mention this word earlier strategic advantage in getting your offer accepted on that house you know I cannot imagine anything worse than you know finally finding the house of your dreams and I’m losing out on that offer because they accept somebody else’s so we literally you know encourage everyone to get us their paperwork as soon as possible get the paperwork in front of an underwriter which is the person that’s you know kind of sign off on the loan in the end anyway and get you a tree pre-approval letter to get that in front of the seller.
I’ve seen more times than that that they’re going to accept that offer even if it’s not quite as high as the other offer just by simply going through that process because we’re validating that client or that buyer as a true buyer someone that can purchase the home based on their all of their information that we put in front of the underwriter well it is the expression it comes back to a an old movie that I can’t remember the neighborhood but show me the money I need that in essence it sounds you know quaint but again in a hot market it’s in any market but now in a hotter market as buyers you have much much more chance of getting back home that you want that you’ve been maybe thinking about are dreaming about for years maybe nine months maybe two years whatever that is and when it’s time to pull the trigger it’s best to have all your ducks in a row.
And as you mentioned I’ve heard this from you before it doesn’t take that much most people anymore have all the information they need on the phone it’s simply literally sending a quick email or text or however they get the information to you you can start process s processing that in a very short period of time correct yeah and it’s such a simple thing like you said it just amazes me that I don’t know if it’s just you know I don’t want to say laziness but if it’s just lack of foresight but literally that one extra step goes so much further in getting that bad offer accepted it’s it’s crazy that not everybody does it but I know a lot of lenders don’t but we certainly do here so what I think so also is is that I think that it it puts a calmness not only to the sellers but it brings peace of mind to the buyers for goodness sake that they don’t have to you know they don’t have to worry about it that the money is pretty well.
I mean you have the appraisal process of course that’s always something that you have to be aware of but again in how to markets those those issues tend to go further away nothing is 100% but I think it’s important to understand that once you have that once you submitted your offer the appraisal and that’s basically yet you’re done on the lending process now I’m not saying that’s not what you guys you’re doing what I’m talking of as far as the buyer goes there’s not a whole lot more things they need to do yes insurance but that’s usually a pretty simple process to but and that’s probably the importance that that I guess I’m trying to stress I know Dave you try and stress on also yeah really what I’m trying to get to and what our goal is is to get you know that buyer that client from the very beginning to the very end which is the close the date.
They get the keys to their house as quickly and efficiently as possible and by gathering all that information upfront and actually getting it in front of the person that’s going to make the decision on the loan number one if there are any issues that come up which that does happen from time to time it’s caught initially and not at the end of the process and it doesn’t delay the process so the efficiency is really the key and again you know getting your offer accepted and moving toward actually moving into that house so right in the NS a– name of the game for everybody it’s a win win win win – to everybody involved all the participants but more importantly the buyer and the seller have a have a smooth closing.
Hey we ran out of time Dave Hall is a new American funding has been our guest and our experts this morning Dave Chartreux what’s a good way people to contact you the easiest way to get a hold of me and I’m available nights and weekends of course is cell phone which is six one eight four zero seven five five six four or if you want to apply on my secure website it’s wwe.com and one thing I just throw in there if you call Dave what he said is true he will contact you back I mean maybe if you just said pick the message up but most the times it’s going to be within minutes and that’s also what you’re looking forward to so that’s a that’s a great benefit to have that you guys do yes sir and it was great being with all of you today all right awesome have a great week days we’ll talk again soon thank you very much we’ll see in a few.