William's Blog...with a smile!

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This time I did not check!

I am a very trusting guy.

When I meet people fo the first time I ask about pre-qual's.

This time early in the week, I  did not.

Results...

Buyers fell in love with the home.

I have asked about being pre-qualified and was assured they had been before I made the a appointment.

 

Well, the lady is in tears as they had not been to the bank and the home they wanted is $40,000 over what the bank says they can have and they have very little money down

 

THIS IS WHY BUYERS NEED TO BE AT LEAST PRE-QULIFIED!!!!!

Comment balloon 15 commentsWilliam Feela • May 25 2018 02:23AM

Comments

It is amazing how this happens over and over... We ask, they lie...

I hope your people can get a grip and find another home to love that is actually affordable for them.

Thanks for sharing, William Feela and good luck!
Bruce

 

Posted by Bruce Kunz, REALTOR®, Brick & Howell NJ Homes for Sale (C21 Solid Gold Realty, Brick, NJ, 732-920-2100) 7 months ago

must be very disappointing.  And while I don't require it of every buyer (based on my old school skills of pre-qualifying buyers myself as I was taught) and the fact that I sell a lot of second homes where buyers have 20% to 50% down payments, it is vital for people who just don't have any idea what they can buy.

Posted by Tammy Lankford,, Broker GA Lake Sinclair/Eatonton/Milledgeville (Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668) 7 months ago

That's the risk.  I wonder if the lender considered any creative options to make it work?  80/15/5? 

Posted by Dan Tabit (Keller Williams Bellevue) 7 months ago

This is heartbreaking every time it happens-always ask for the lender letter!

Posted by Michelle Carr-Crowe Just Call 408-252-8900 Top 1%!, Family Helping Families Buy & Sell Homes 40+ Years (Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty) 7 months ago

Well, I will bite my tongue, and just say Real Estate 101, hope that is OK, Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) 7 months ago

I have done that...I don't want to have people think I don't trust them but we do need to know

Posted by Vern Eaton, Realtor 651-674-7449 7 months ago

Morning William.

Knowing what I know about you I find this interesting.  Like Endre Barath, Jr. said, 101

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty AR LLC) 7 months ago

Add to that from a reliable, responsibble, reputable lender...not all are unfortunately !

Posted by Sally K. & David L. Hanson, WI Realtors - Luxury - Divorce (EXP Realty 414-525-0563) 7 months ago

Good morning William. Too bad all around. Better luck next time. Sorry.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) 7 months ago

This is another good reminder of the importance of getting pre-qualified before looking at homes.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) 7 months ago

It's unfortunate when this happens.  We've wasted our time and now these potential buyers are heartbroken.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) 7 months ago

I think we probably have all had a tale to tell like that one William!  I does happen though!  The good news is you now know what they will qualify for, and you can look in earnest within their price range.

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) 7 months ago

SO important for buyers to get pre-qualified so they know where they stand. At least it can help avoid disappointment later.

Posted by JL Boney, III, Columbia, SC Real Estate (Coldwell Banker) 7 months ago

It is sad for them and you. When will they learn?

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) 7 months ago

Bill, I give my potential buyers  one showing before I insist they get prequalified. 

Posted by Mike Frazier, Northwest Tennessee Realtor (Carousel Realty of Dyer County) 7 months ago

Participate