Why Are They Asking Me To Get Pre-Approved?

by Heather and Steve Ostrom

You are getting ready to meet your buyer's agent to write an offer, or you have indicated interest in writing an offer on home "x."

Your agent informs you, "it's suggested you submit your offer with a pre-approval from mortgage consultant or bank 'y.'" What does this possibly mean and why do they do this?

Watch this video for ways to be prepared for this request and the reason why *some* banks or groups might do this ... You will see this many times on bank-owned properties (REO), flip properties and even on short sales.

REALTOR(r) Steve Ostrom with Coldwell Banker Residential Brokerage license #01344154

Mortgage Consultant with Wells Fargo Home Mortgage: Brian Skarg

To speak/email to or with Brian Skarg, or any other of our preferred lenders, please visit our real estate website:

http://www.rosevilleandrocklin.com/loan.html

Thank you for watching our video blog!

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http://www.RosevilleAndRocklin.com

Steve Ostrom, REALTOR(R)
2008-11 C.A.R. Board of Directors • Placer County Masters Club
Coldwell Banker license #01344154 • 2270 Douglas Blvd #120, Roseville
916-308-2446