Both should be done in conjunction together. However, you may want to speak with a few Realtor’s first, they should be able to refer you to a few different lenders they have worked with in the past.
Since the financing is the heart of the purchase, you want to have a good lender and Realtor on your side. When Realtor and lender have past experience working together, it is a big benefit to you, the buyer. If the Realtor knows how the lender performs and the lenders experience, it can make your buying experience smooth and easy.
After you have decided on your Realtor and lender, you will need to start the loan process immediately. The lender will require paperwork and documentation in order to see what price you qualify for and talk to you about payments. You can then come up with a purchase price you are comfortable with, that you will share with your Realtor.
Your Realtor will be speaking with your lender along the way and obtain a pre-approval letter to submit with any offers you put in on homes. In today’s market it is imperative you have the pre-approval letter to submit with offers. Most of the time you will be competing with other offers, if you don’t have a pre-approval letter, most times your offer will not be submitted for the seller to review. Think of it is this way, if you were selling something you would want proof that the purchaser has the money or capability to obtain a loan before you wasted your time considering their offer.
Be sure your Realtor sets you up on a search, so you can view properties online in the comfort of your own home. This search should match your criteria in a home and not exceed the purchase price your looking to stay at or under. When you find a few properties your ready to view contact your Realtor.
Happy House Hunting!
County Properties, 24 years of brokerage experience, trust and a Member of the local Better Business Bureau!
Click here to get loan information before the rates go up. To get started on viewing homes, condos, investment properties, pre-foreclosures, bank owned foreclosures (REO’s) or thinking of selling your property, please contact me today for free counseling at (619) 301-0200.
By the way…if you know of someone who would appreciate the level of service in real estate we provide, please call me or have them go to www.CountyProperties.net and I’ll be happy to follow up and take great care of them.