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What are some ways in which buyers might speed up their home purchases?

March 19, 2019

Well-prepared buyers are more likely to be more efficient and “speed up” their home purchases.

The first step on the preparation list is to obtain a true pre-approval. Instead of a quick process involving a credit check and stated income, which many mortgage lenders call a pre-approval, a true pre-approval requires additional information, including tax returns, paystubs and bank statements. The mortgage lender gives buyers a maximum price to qualify for a mortgage.

The next step is for the buyers to determine what style of house appeals to them, as well as how many bedrooms and baths they need. An important consideration is the condition of the house, including what renovations buyers are willing to do, if any; location, such as proximity to the train; and school-district preference. At the same time, buyers must know what they do not want in a property, such as proximity to a major highway and noise. There is no perfect house in any price range. Looking at public open houses is also a good way to determine what they want.

Now, buyers are ready for a Realtor. While pictures online look great, reality is different. The flow, the way light enters the house, the neighborhood and other factors are not depicted in the photography. Realtors familiar with inventory can pinpoint properties that most match the buyers’ must-have qualities. They can also discuss negotiating strategies and guide the purchase process.

Maria Ruggeberg, William Raveis Real Estate, (203) 869-9263 office, (203) 912-7729 cell, maria.ruggeberg@raveis.com