Last time I said that is importnat to Be aproved for a mortage before start research of your ideal home, today I'll try to explain better why...
Every real estete agency will ask you financial documents, if you are in a couple is better that also your partner will has these documents, personal documents that will be necessary to register and informatic controls...there are a lot of things to see, control and sign into real estate field...or better in Italy for everything there are a lot of papers....we have a long and compllicated BUROCRACY...
However,you visited a lot of homes and you found your house...and now? Talk wiith your realtor asking suggestions to make an offer...but probably you are still asking why is better be pre approved for mortage...well let me explain:
- you found the house you wrote an offer, realtor talked and negotiate with homeowner and found a deal but you didn't ask for mortage yer, this means at least a couple of months to have a reply from the bank and if you didn't link the offer to your loan and homeowner accepted your offer and bank say no to your mortage, well you lose your deposit and you worked hard to save it.
- Most realtors when receive an offer stop visits on that home, well if you are already PREAPPROVED for mortage is ok, while in the last real estate agency we keep showing the house saying clearly that there was an offer on that house, I can say that one friend of my brother was undeceided between 2 houses and wanted to do an offer for boths, well this is absolutely wrong. Because OFFER is a LEGAL DOCUMENT, so if you make an offer and homeowner accept, this contract worths and if you change idea you lose your deposit, this is why I suggest to visit at least twice and if you wan tto do renovations works client can choose a technician, most agencies have their technicians but I suggest to have your.
- Every offer need a check, this demostrate real interests about that home, you must to write in the offer all your terms and condition (keep the kitchen, empty space, time to leave the home)
- If you have enough money to pay cash well, there are any kind of problems, usually homeowner are a little bit more patient with cash, but at the same time you must to be sure at 100% about the home. I can say that in 2012 I've sold a tiny apartment after 7 visits and meseaurements, we negotiated a lot about price but in the end both parts are been happ
Buy a house isn't an easy affair, like to sell, next time we talk about best way to impress client if you are try to sell your home!!!