Getting your offer accepted | Mortgage Mondays | #16. https://www.mattthemortgageguy.com 916-529-7600 Matt the Mortgage Guy here, Mortgage Mondays, episode 16, where I talk about getting your offer accepted in the sellers market.
Matt the Mortgage Guy here, Mortgage Mondays, episode 16, where I'm talking about getting your offer accepted in a seller's market.
And what I want to touch on today, there's a lot of facets and a lot of elements to getting your offer accepted in a seller's market. A lot of it has to do with how the real estate agent structures the deal and writes the offer, and that I'll leave to the seasoned real estate professional who really knows the market well and knows what to include and what not to include on the purchase contract.
What I want to talk about today is the lender's role in helping you get your offer accepted. In a seller's market, like we have right now in Sacremento, where seller's are able to review ten, twelve, fifteen offers on each property, it's highly competitive. And as a lender I know what I'm seeing and what I'm doing in order to get my clients get their offer accepted. And everybody who's in the game understands that when you submit an offer, you're up against multiple offers. You want your offer to stand out, you want it to look strong. And a big portion of that is the pre-approval letter from a lender, in many cases this includes a DU approval which shows that you've been ran through an automated system and have a full fledged automated approval on your loan, not just a signature from a loan officer saying I'm going to loan them. So above and beyond submitting that with the offer, what I've been doing lately since things are so competitive, is I'm reaching out to the sales side as the lender saying "hey, my client Joe Blow just submitted an offer on 123 Main Street, and I want to reach out to let you know that I've got a full file put together for this client, I verify their income, I verify their assets, I verify their credit. I am confident that I can close this deal in 30 days, and I'm confident that there's not going to be any hiccups. If you have any questions, please feel free to reach out, I'm available anytime you need me" and you know, that's that.
The agent on the sales side I can tell you from experience, really appreciates this. And as you can imagine, being a seller, one of the most important things that they have to consider is that whether or not the person who's submitting the offer can get the financing that they have in place. You know, a lot of them can submit offers that have a pre-approval letter, and as all of us in the industry know, deals fall out. And so when I submit a pre-approval letter for a client, I always ask their agent, "hey would you like me to reach out to the sales side?" I know from experience this helps strengthen the offer, it looks really good to the selling agent and you know, they understand that before anything else that the lines of communication are open. I'm willing to reach out and say "hey not only did I write this pre-approval letter, but I you know, I sat in my office with this client, I have a full file put together for them and I will be able to close this loan."
It goes a long way. So please feel free to reach out, Matt the Mortgage Guy, have a good one.
This episode of mortgage mondays I talk about how the lender can help you get your offer accepted in a sellers market. #MortgageLoan #DirectLender #SacramentoMortgage #SacramentoRealEstate
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