How to Find, Buy, And Move Into Your New Home in 45 Days or Less!

Buying a home can be a fun and rewarding experience especially when you’ve taken all the necessary preliminary steps. Hello! I’m Clark Cook, Broker & Owner of 1st Choice Realty of Fayetteville.  In the next few minutes I’m going to share with you the single most  important step you should take to insure you find, buy and be in your new home within 45 days or less!  So listen up! Even if you know your credit is excellent you should immediately obtain pre-approval for a home loan, and here’s why.

In today’s market most sellers have been waiting a long time for a qualified buyer. When you show up with your pre-approval letter, that’s the next best thing to having CASH in hand! Your ability to negotiate the best price is strengthened and you have just increased your chances of getting your offer accepted.

The best deals often attract multiple offers. Trust me! Nothing is as disappointing as finding your dream home, making an offer contingent upon you getting financing, only to lose it to another buyer that is pre-approved. The strongest offers are not contingent upon the buyer being able to obtain financing. You can eliminate the possibility of that happening to you by getting your financing in place FIRST! Like I just said, it’s the next best thing to having CASH.

So if you haven’t done so already, I can help you by introducing you to two local home loan officers I have successfully worked with in the past. Now you may have caught that I emphasized local and the reason is I have developed a professional relationship with these lenders. I’ve met them eyeball to eyeball, belly to belly, and have access to their private numbers. My name and number is in their cell phone directory giving me direct access to them.  My calls get through, but most importantly it saves time and is convenient!  I don’t have to worry about anything of importance delaying the process because I communicate regularly. It is also important to note that I have worked well with lenders where no prior experience or relationship exists. Ultimately it is your choice, your decision as to whom you choose for financing. The only thing that matters is that you get pre-approval early in the process.

Secondly, you need to know what you want i.e. Price range, School district, Size, Style, Lot size, number of rooms, garage, etc. narrow it down as much as possible.

Finally, let me address the typical timeline for buyers who do it right and get pre-approved first. The first week to ten days we find the property that meets your criteria. Next we negotiate the price and make an offer. After our offer is accepted, signed contracts go to the lender and closing attorney. We immediately begin our due diligence by scheduling a home inspection. Once we get the results of the home inspection we address any needed repairs with the seller prior to the expiration of the due diligence date. Over the next 2 to 3 weeks the lender is processing your loan, orders the appraisal and gets it through underwriting. By this time we are usually at or near the 30 day mark. The last thing we do is a final walk through the day before the closing attorney settles the transaction.

In summary, smart home buyers consult a lender before they start looking for a new home. So if you are serious and want to avoid disappointment and possible heartache, click the green button at the top right of the screen, select a lender, and get pre-approved!

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