Issue link: https://www.ifoldsflip.com/i/1348087
By Marilyn Kennedy Melia CTW FEATURES Buyershavelong neededamortgagepre- approvallettertoprove they'reserioushome shoppers. Now,thatpaper testamentisn'tenough. Sellerswantalender's verbalassurancethata buyerhasthefinancial wherewithaltomakethe purchase. Astrangeconflu- enceofevents—many marketsseeingmultiple offersfromeagerbuyers amidarockyeconomy —makesitimportant "forabuyertostandout andconvinceaseller thattheywillexecute aspromised,"saysRob ThompsonofColdwell BankerinColorado Springs,Colorado. Nakedtruths Butespeciallyif they'removingwithin atight-knitcommunity wheretheymayknow theagentsandsellersin- volved,don'tbuyershave arighttoprivacy? It'stheprocessbe- hindthemortgagepre- approval,nottheactual numbers,suchasabuy- er'sincome,thatmatter, explainsMatthewMar- tinezofDiamondGroup RealEstateinSanta Rosa. "Somelendersdo thebareminimum(in grantingapreapproval letter),"headds."We wanttoseeifthey've verifiedemployment, checkedbankstatements andhowclosethebuyer isondebt-to-income ratios." Indeed,nosinessisn't theaim;ensuringan offerwillgothroughto completionis.In2020, theNationalAssocia- tionofRealtorsfound 20percentofpurchase contractsweretermi- natedduetofinancing issues,andanadded 12percentforarelated reason:thebuyerlost hisjob. Reliablelender "Agentsareextremely vocalabouttheirex- periences—especially negative—withlenders tootheragents,"says AJChinnofPlatinum RealtyinOverlandPark, Kansas. Locallendersare oftenpreferred,notes JimWhatleyofUber RealtyinFortWalton Beach,Florida.Therea- son?Ifthere'sahitch, thebuyer'sagentcan easilyfindapersonto talkwithtopushtoget itresolvedandthenhave thelenderassurethe seller. Whenagentswork withbuyers,theyoften suggestreliablelenders, butbuyersarefreeto choosetheirown,What- leystresses. Whysellersfollowabuyer'smoneytrail LocalNews Advertising Audience Targeting Content Marketing Search Marketing Social Media Email Marketing Learn how 26+ home builders are currently benefiting from the Quantum Adtaxi campaigns Formoreinformationcontact: SandyLek at (925) 847-2135 or slek@bayareanewsgroup.com today! in partnership with We Simplify Digital Marketing for Home Builders Everywhere. Our solutions include: Website Building For more info, visit NewHomeFinder.news H8 BAYAREANEWSGROUP 111 Homes | Advertising Section