Ramblings of a Baltimore area Realtor: Do you need to be pre-qualified for a loan?

Do you need to be pre-qualified for a loan?

Do you need to be pre-qualified for a loan before a realtor will show you a home that is listed?

Not necessarily, however, a good Realtor is going to prequalify any buyer they show a home to.  I don't know if you know this or not, so at the risk of repeating what you might or might not know I'll be as brief as possible.  Realtor's are self employed, when I got my license my teacher made us all stand up and do the boy scout salute and swear "I am not a tour guide".  If a Realtor shows a house to an unqualified potential purchaser that is all they are, "tour guides".  Why would a Realtor show a home to someone they didn't know was capable of buying a home?  A Realtor does not make a penny if the buyer doesn't buy or a seller doesn't sell, there are tons of expenses involved in just being licensed, every year we spend about $2000 before we even start to sell a home.  In order to protect our very hard earned dollars we all want to make sure we aren't wasting our time showing homes to people who can't afford to buy them.  So, if you want to tour houses, look for open houses and walk in, if you want a professional to guide you through the process, advise you on value, condition and what you should offer then do your part and get pre-approved for a loan before you start your search.  If you want to know who to get preapproved with or about loan programs ask a Professional Realtor for a referral, I know I have lots of fabulous loan professionals that do a great job on a list just ready to share. 

If you are thinking of buying or selling an home in  Maryland give us a call at 410-292-0100 or start your search here and we'll talk about the market conditions and what your home could possibly be worth in today's market place if you are thinking of selling. If you are considering buying a home, there is no better time than now to buy. The tax savings and wealth building alone is worth the plunge into todays market.  Remax New Beginnings and I are connected with some of the brightest and best real estate agents in the world and can assist with your move here in Maryland or anywhere in the United States or abroad.  Ask me how.

June Piper-Brandon ~ Associate Broker ~ CDPE, CIAS, ePro, MRP

Long & Foster Hampden

410-292-0100 - Direct   410-889-9800 Office

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June Piper Brandon - Agent with Century 21 New Millennium

June Piper Brandon - Agent with Century 21 New Millennium

Comment balloon 2 commentsJune Piper-Brandon • September 17 2015 08:59AM


Agreed June Piper-Brandon a well written article appropriate for todays buyer.

Posted by Bruce Hicks, Your Lifetime Friend/Helper! (Best Homes Hawaii) over 4 years ago

June -  that would be my definition of a prospect.  Someone who can afford to pay.  Prequalification tells that.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) over 4 years ago

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