If you have any questions, please feel free to contact me at anytime…..thanks and have a great day!
Julia St. Marie,RRG, ABR, RSPS
The First Step to Smart Planning
The importance of an UNDERWRITTEN LENDER APPROVAL SUJECT to the APPRAISAL….
If you want to buy a home in Las Vegas within the next few months, I highly recommend that you obtain a UNDERWRITTEN LENDER APPROVAL SUBJECT to the APPRAISAL. This means that all buyer docs are supplied upfront and all lender conditions are SATISFIED. Please note that this needs to be DONE before you can close, so it is WISE to COMPLETE UPFRONT.
UNDERWRITTEN LENDER APPROVAL SUBJECT to the APPRAISAL is important to obtain BEFORE searching for a home in the Current Las Vegas Market.
Why is theUNDERWRITTEN LENDER APPROVAL SUBJECT to the APPRAISAL important at the beginning of the home-buying process?
Some buyers think that when purchasing a property it should go within this two-step order:
1. Find the right house
2. Negotiate the transaction while figuring out their financing to make the purchase
UPFRONT: It makes smart sense to know your deal, before you make your deal.
FIRST STEP: Buyer obtain an UNDERWRITTEN LENDER APPROVAL SUBJECT to the APPRAISAL
The worst time for a buyer compete the loan process is after deciding on the property that they want to purchase. During this time, buyers are overwhelmed and may make haste to their complete their financing rather than making the best possible decisions for themselves. The buyer may put themselves in a position whereas there is no time to compare and shop around for their best possible interest rates, lender fees, and options for their mortgage financing.
What is the difference between a Pre-Qualification and an UNDERWRITTEN LENDER APPROVAL SUBJECT to the APPRAISAL?
Pre-qualified buyers are those whose lenders have only determined how much they can borrow based only on information that the buyer has only verbally provided to the lender and their credit report. Nothing has been verified to determine the buyer's true ability to obtain the loan. The pre-qualification is a brief quick look at the borrower’s finances without any supporting documents from the borrower.
UNDERWRITTEN LENDER APPROVAL SUBJECT to the APPRAISAL supplies a legitimate, bona fide, SMART, competitive, fully documented and completed Lender Application, with no buyer surprises. JUST BUYER STRENGTH!
YOUR UNDERWRITTEN LENDER APPROVAL SUBJECT to the APPRAISAL:
1. Will let you know how much you can afford, before you start looking.
2. Can cut days or even weeks off the closing, because the lender has already conducted it's credit analysis through the UNDERWRITER, has received all your supporting docs and LENDER CONDITIONS ARE SATISFIED. Buyer is awarded with closing on time and that means no per diem late pay charges at close.
3. Strengthens your offer and negotiation position. Stronger buyer position for the plethora of bidding wars that are very prevalent in current Las Vegas Market. A seller will often choose to accept an offer from a buyer whom has an UNDERWRITTEN LENDER APPROVAL SUBJECT to the APPRAISAL for a mortgage over a buyer whose financial picture is still in question with just a Pre-Qual.
4. Can better compete with the very prevalent ALL CASH BUYERS in the buying market in the Las Vegas arena of today.
For the buyer to be poised the BEST to WIN !