Its Wednesday and I feel like I’m losing steam. Losing energy for the housing market, clients, and need to get my head back in the game. As long as I have been in the Real Estate business, I still am amazed at the way some clients think. For example, I was interviewed by a potential client and they both think that they do not need to get pre-approved in this market. They feel that they read enough and their stocks, 401k’s and etc… are all lined up for the kill. They feel that because they make a great income, that they won’t have problems qualifying for a loan. They don’t want to waste their time. Well, I had my job cut out and finally succeeded in convincing them that they still need to go through that process regardless of their net worth.
In this market, you don’t know what the scenario may be. Whether it be a “regular” sale, foreclosure, REO,. shortsale. Therefore, clients need to be pre-approved and lined up for whatever the lenders want to see. Or simply, don’t play the game. Time is of the essence. Time is very valuable. But to all concerned, spend the time to get the right things lined up for your benefits.