Pre-Approval process is essential

Don’t be surprised if a real estate agent declines to show you property if you have not initiated the process to “get your loan ready.” Once in a while, a would-be homeowner will claim they don’t want to bother with the preapproval process until the find a home they like.  Those days are now ancient history.

Most agents devote themselves to clients who have done the work of getting ready to buy a home. It means the lender has been told “all” and knows “all.”  They provide a letter of preapproval (far better than a simple prequalification letter) which states all you need to buy a home is the address, an executed purchase agreement and a preliminary title report.

The pre-approval letter is the parachute behind the offer, as well as the safety net, the stamp of approval, and the insurance policy for a good transaction. Much of the bad rashes from the previous real estate market have been cured by proper lending practices, which even includes a separation from the appraiser. This is to insure impartial and unpressured evaluations.

If you want to buy a home and whether it’s your first or fifth, you must have a pre-approval letter. So before you find the home of your dreams, start the process to avoid major disappointment.  None of this is personal against one buyer over another—it’s just good business.



About Kay Wilson-Boltonhttp://www.kaywilsonbolton.netWith a full-time career in real estate, I can add to your bank of knowledge, not only in real estate but in many areas of life that deal with people and relationships and choices. My real estate career has taught me many lessons about planning ahead and looking forward. I believe in helping along the way so that they can be the best they can be in any situation. I serve as a Fire Department Chaplain and Coordinator for the Many Meals Project which serves homeless and hungry families in my community. The event is far more than many meals. As a result of my work with the homeless population in my community, I received the Good Neighbor Award 2017 from the National Association of Realtors and named as a Champion of Homes in 2015 by the California Association of Realtors. I make pastoral visits to the inmates in the County Jail System and offer them what God says about "all things being new" and His remarkable plan for our lives. I have served my community as Mayor and in many volunteer capacities. I serve others by serving God first. My husband is involved in prison ministry and is a graphic artist. We live a simple life in Santa Paula with an office cat named Scout, three rescued poodles and a cat named Tony Diane at home.

One thought on “Pre-Approval process is essential

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