Why You Must Be Pre-Approved

I'm writing today's blog in response to a customer who became highly irate when I told her that I would not show properties to anyone without a valid bank approval letter or proof of funds statement.

For starters most home buyers have a rough idea of how much they will feel comfortable paying on there monthly mortgage. Some potential buyers don't realize that there is no way to decipher that into a specific monthly mortgage amount because of other critical aspects, down payment, mortgage insurance, property taxes, interest rates etc.. Fact of the matter is you probably cant afford what you think you can.

Second, and I don't care what anyone else has told you, it's ILLEGAL, period. Put yourself in a seller's shoes. Your home is up for sale which means in order to get this done, people must be able to enter your property. Would you like to be asked to vacate your home in the middle of Thursday night dinner for someone to enter your home that can't afford it? Say you picked up a property, put all your time effort and money into this property to rehabilitate it so a crack shot agent can bring someone in who has no chance of buying it. It puts your investment at risk.

Third, I must protect myself. The real estate game has the potential to give an agent the means to provide an honest income for a family beyond their wildest dreams, but we don't get paid by the hour, only when a deal closes. I will not fuel up my vehicle to show anyone properties without them first providing proof that they have the means to make this happen. As I said before its illegal to do so and I simply wont do it. I am not a travel agent nor is this a travel agency. If your looking for a tour guide find a park ranger, wooosah!