Wanda Gertin

A solid pre-approval can certainly give you the leg up on competing offers, so it’s important to be ready when it comes to working with a lender. In short, your pre-approval is the lender saying you can afford “x” after taking a quick glance at your financial situation. The majority of lenders will have very similar rates; however, a local lender on the ground in the area you’re looking in will likely be more competitive and better-known amongst agents, which surprisingly can have an impact on the pre-approvals credibility. You’ll also want to consider access to your mortgage banker throughout the process – a big question to ask is whether they are available on weekends (and whether you will be able to access them via cell phone!). In order to be best prepared for getting pre-approved, begin compiling the following items: 1) Tax returns for the past two years 2) Pay stubs for at least three months. If you are changing jobs or relocating, a copy of your offer letter. You’ll want to talk to your lender about your career change prior to a preapproval, as it may impact your ability to obtain a loan 3) Bank statements for the past three months 4) Other asset/income statements, such as 401k, retirement accounts, or real estate leases if you own investment property 5) If obtaining money from a third-party (friend or family member), a gift letter, which your lender can help you with 6) An idea of your credit score and monthly debts – student loans, car loans, etc will be used to calculate your debt-to-income, an important factor in mortgage lending 7) If you have a mortgage already, a couple of months statements may be needed by your lender 8) If you are divorced, a copy of your divorce decree and documentation of any child support or alimony may be necessary Getting all of these items together in advance will help you and your lender be prepared. Many lenders, if given all of this information up front and authorized to pull your credit, will actually be able to pre-underwrite your loan, meaning that you will be approved as a buyer and they will simply need to “approve the home” via appraisal and if needed, a condo document review and verification of facts through a condo questionnaire. This can be a huge bonus and help you shine amongst multiple offers.

The national average for selling your home is currently 100 days. However, this varies drastically depending on the area and price of your home. It is important to price your home competitively and make sure your home is seen by as many people as possible. The more exposure your home receives, the faster the offers will come in. We offer strategic marketing plans for our Sellers to get their home as much exposure as possible through Professional Photography, Facebook Marketing, and Email Marketing.The accurate value of your home depends on many things such as the square footage, neighborhood/area, and many other attributes. Many Sellers tend to compare their home to the most expensive home that recently sold in their area instead of looking at homes with similar attributes that recently sold in their area. Homes in your area with similar attributes are called "comps" and are a much better way to indicate an accurate estimate for your home. We provide a custom report that includes accurate and up-to-date information to determine your homes value.