The mortgage professional, will be an important part of your team. Your Mortgage
Broker / Loan Officer can do several things for you while you are selling your
home alone:
Pre-qualify - Your Mortgage Broker / Loan
Officer can pre-qualify any interested buyers you have for your house. This
gives you a good idea if the buyer can actually afford to buy your house. You
need to know this in the beginning before negotiations begin...not after...
when it’s too late. Pre-qualifying is imperative!!
Don’t waste valuable marketing time with buyers who can’t
get a loan. On the other hand, you do want to concentrate on working
with those buyers who can qualify for a mortgage to buy your house.
You may say…”I’ll advertise for pre-qualified buyers
only.” Many FSBO’s will try this approach only to find out that this approach
can cut traffic by over 60%. Remember...your Mortgage Broker / Loan Officer is
providing this service forfree...why eliminate a potential buyer...it doesn’t
make sense.
Financing Options -
Your highlight sheet describing your home needs financing
breakdowns. These financing or cost breakdowns are critical. Your buyer wants to know how much this home will cost them
each and every month. Plus they want financing choices or options at today’s
prevailing rates.
Planning ahead by having this information readily
available, accelerates the whole process of selling your home.
Your buyer also wants to know details about closing
costs, taxes and, hazard insurance. Let the expert do all this...you don’t even
have to go there.
You need to be aware of intricacies of the loan that your
buyer is using. It’s important you understand the mechanics of the transaction.
Your Mortgage Broker / Loan Officer is the one to help you through this by
supplying you with the specific knowledge necessary to complete the transaction
smoothly.
A good mortgage professional is an invaluable tool in the process of selling your home.
