Working with Buyers

Based on real estate trends in Orange County at the end of 2013 and beginning of 2014, there appears to be a worsening shortage of homes for sale. This fact plus rising 30-year fixed mortgage rates probably means stiffer competition for buyers, especially in sought-after neighborhoods. My job, therefore, will be to help buyers to construct competitive offers within their budgets and comfort zones.

For both buyers planning to get a mortgage or pay in cash, obtaining proper financial documentation is a critical step. If you’re planning to get a mortgage, you’ll need a pre-approval letter.

As a strategy for winning in the competition for quality homes in the most desirable neighborhoods, I stress the importance of pre-approval or proof of funds. Offering earnest money ,3% or more of the purchase price, also can be another strong competitive asset.

Being “pre-qualified” just isn’t sufficient because it doesn’t verify your income, assets and credit. If, on the other hand, you’re planning to pay in cash, be ready to submit proof of funds, which can be an original bank statement, open equity line of credit, copy of a money market account balance, or certified financial statement.

One of the main reasons that I decided to work with Berkshire Hathaway HomeServices is that it is a trusted full-service real estate company, handling everything from securing the best mortgage loan to finding reliable contractors. We can efficiently guide you through the entire pre-approval process and make sure that all of the paperwork and supporting documentation is done properly.