We have been advising our buyer clients that they need to prepare their pre-qualification letter as soon as possible. Here is why.

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Usually, people have misconceptions about the true cost of buying a home.

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They underestimate the monthly payment sometimes, assume a down payment or are not ready with the cash reserves necessary to close the home.

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At other times they can be misled by false advertisement on fall victims for fraud, and yes it still happens today.

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What happens when you work with unexperienced agents

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Unexperienced agents will encourage making an offer with a pre-qualification letter, the problem is that I would not feel confident doing that for a client until we review the monthly payment and also keep in mind that origination fees are a buyer cost, so why would you make an offer if you have not reviewed what the true cash to close is.

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Working with us not only ensures that we will be protecting you from financial mishaps bu also from structural risks from inspections.

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It matters what agent you have and also who the mortgage broker is.

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Unexperienced agents will encourage making an offer with a pre-qualification letter, the problem is that I would not feel confident doing that for a client because I need to review the monthly payment and also keep in mind that origination fees are a buyer cost, so why would you make an offer if you have not reviewed what the true cash to close is.

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Moreover, we only work with lenders that we know are transparent with the buyers because they deserve to know and to review what their costs are going to be. Specially in origination costs.

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Going for the lowest interest rate lender is not always a wise way to save.

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One of the things that I look at for a buyer is to review their disclosure statement, and make sure that all the fees are crystal clear. Why?, let's imagine the we found your dream home. 

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Many buyers make the mistake of "shopping" for the lowest interest rates, but often these lenders will sneak hidden fees, and won't provide the right disclosures.

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This, at closing for example, a buyer is expecting the downpayment to be $23,000. And the closing statement shows $35,000. Where did those $12,000 come from.

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These are the scenarios that we protect buyers from.

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Knowing what negotiate.

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One of the things that buyers always miss, is to assume that a negotiation is going for the lowest price possible.

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This is can actually lead to mixed to bad results. For starters, you cannot confuse price with value.

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Price is what you pay, but value is what you get to enjoy. We always advise our clients that sometimes that extra $10,000 goes a long way in location.

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What's the point of getting a "deal" where there is no grocery store in sight at all.

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Moreover, if you buy in a place with low turnover, it does not matter how low you bought, the chances of reselling are very low.

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Another things is that at times you may be able to buy a home you thought was unaffordable.

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We cannot provide our methods to assist our buyers here, but if you need a consultation please give us a call!

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