First time home buyers start here. So do experienced buyers, short sale buyers, investors and anyone else looking to buy a home.
Where do they start? Where the rubber meets the road – with the financials!
If one is a cash buyer, any seller is going to want proof of funds in the way of a bank letter, brokerage letter or some other documentation. Further, your real estate agent is going to want more than your verbal intention to pay cash. In real estate, much as in life, talk is cheap.
In Brevard County, Florida there were 505 residential properties sold in September 2011. Of these 505 properties sold there were 235 cash transactions (46.5%).
How many of those sellers accepted the "cash offer" without proof of funds?
If a buyer will be financing their purchase, then a written pre-approval will be required by the seller at the time an offer is presented. There is a significant difference between a mortgage pre-qualification and a mortgage pre-approval!
Whether buying or selling real estate in Brevard County, Florida, call me first to discuss how I can with you. If you prefer, email me.