The importance of being "Pre-Qualified" even in THIS market.....
Posted by Rick Goates on Tue, Feb 16, 2010 @ 06:57 PM
Redding Ca News-Redding Ca Real Estate,Homeowners may have relief!
I had a bank owned home listed recently that generated a lot of interest...much more than I thought, that is for sure...What amazes me are some of the people that called on the home...One gal in particular called right after the sign went up...she seems "Very" interested....she wanted to see it and I asked her to get pre-qualified and gave her two lenders contact info...a week goes by and she calls again...very interested...and wants to see it....did you get prequalified I asked? No!.......mmm ok well the property has sold twice since you called....TWICE? Ahh yes......and you didn't get pre-qualed BEcause????
It may still be a buyers market but with bank owned homes in good shape in good areas there usually multiple offers IF the property is priced right in the begining.....if it is? Is goes quickly and for a good price...sometimes even higher than the list like in this case....multiple offers from motivated buyers = more money for the bank....
So what's the secret if you are a buyer? GET PRE-Qualed out of the gate....so you don't miss the deal when it comes...and they do come...the question is are you ready to pull the trigger?
For sellers what is the secret? Price it well out of the gate and you stand a chance for a full price offer or more if you have two or more people interested at the same time....and you will get the price you want and quickly....in a market that is declining this is VERY important....Or take less later after all your price adjustments...choice is yours....I know what is working and am happy to share it with any that will listen...
Regards
Rick
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