Check it out, you’ve been qualified for a mortgage
You’ve gone out shopping for a home
And at one point.. The right house finds you
Now here is what I tell people, they ask me “How do I know what house to buy?”
It’s simple…you walk through the door, you’ll step in when you open the door
You’ll stop through the threshold and the clouds will part (ray of light)
And light will shine upon thee…
And somewhere in the background you will hear a harp playing (harp soundeffects)
I know that sounds a little overly dramatic, I’m telling you right now
Most people 99% of people walk in a house and they know
So you consult with your agent, hopefully your agent is doing a good job
As far as pricing strategy, if not give me a call, I’ll find you a good agent
You are getting ready to put in an offer. The offer goes in
And before the offer goes in, the agent tells you “Look, I need a letter from your lender”
So they get a.. Some sort of a qualification letter
And what most lenders do is, they just send the letter
Well… that sucks, because, what if the seller does not like the letter? For some reason
And..what if you lose the house?
I mean you go through the ups of all..”this is the one”
And in your brain…you are decorating, and your kids are playing in the living room…
And they rejected your offer…
Have you ever thought of that maybe, just maybe there’s a different way of doing it.
Let me tell you how I do it. First thing I tell everybody is
When you find the house, call me, let me run the numbers for you
Let me tell you what the numbers are for THAT house
Because, as I have talked about from my other videos,
numbers can change by hundreds of dollars house to house, taxes, insurance…
Then, I am going to put together a letter to match your offer
If your offering $280K on a house. It would not be in your best interest
for me to give you a letter saying you qualify up to $300K or $325K right?
So we will customize the letter. And then, when the letter goes in
I am going to call the listing agent and SELL the OFFER.
Look, here’s the problem with these letters, compliance department wrote them
So there’s this all sorts of scary language in there and people who aren’t
in the industry, including Realtors and sellers, etc… they don’t know
So I call the listing agent, and look,
I’m the Primary Trainer for the Realtor’s Association here in Lee County
And as a result to that near all the agents at least know of me, if they don’t know me
A call from me can carry some weight
So, I will run the numbers, to know EXACTLY
what the numbers are before you put in an offer
I will write a qualification letter that matches your exact offer
which improves your negotiating position
And then I am going to call the listing agent, and kind of SELL the offer.
So, that’s everything I do to make sure that you do not lose out on your dream home
Anyway, that’s how the experience is different when putting on an offer
I’m Scott DiGregorio, I’m Your Mortgage Guy
I’ll check you on the next video, take care
