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Getting The Best Offer on Your Home

by Jeremy Larkin

So what’s the difference between a GOOD Real Estate offer and a GREAT Real Estate offer? According to recent research nearly 1 in 3 Buyers entered into a “competing offer” situation last year…wow! That’s great news for Sellers, but is price always King? Not necessarily:

Sellers who are considering an offer on their home or property need to consider the following:

  1. The highest offer isn’t always the best
  2. Buyer needs to be FINANCIALLY ABLE to close
  3. A buyer with significant earnest money or larger down payment is going to typically be more “ready” to close the deal.

Enjoy this short 1:47 video on this topic for a more interactive view on the topic, and as always – just contact us via email at larkingroup@gostgeorge.com or 435-767-9821 for professional advice regarding your personal St.George Real Estate situation! 

 

ST. GEORGE HOME BUYERS: Get Power with a Pre-Approval

by Jeremy Larkin - St. George Real Estate Ninja

Pre-approvals are the real deal! Recent studies show that Buyers who get "pre-approved" are significantly more likely to actually CLOSE on a home as those who are just "pre-qualified." β€‹Is there even a difference? YES. 

In a prequalification scenario, you call a Lender, tell them your income over the phone and perhaps​ they run your credit, after which they say, "you're good to go." The problem with this? It's like calling your Heart Surgeon  and just explaining the symptoms over the phone. Can you even imagine it? NO WAY. That Doc would IMMEDIATELY SAY, "I can't diagnose you over the phone. Come in for a full checkup." 

Enter stage right: The PRE-APPROVAL. In this scenario, a Lender who's worth their weight in salt...and gold, and a bunch of other stuff, has the Buyer bring in FULL documentation of employment, income, and pulls credit. They are literally saying, "barring a major disaster (like the purchase of a speedboat) and pending a signed sales contract between Buyer and Seller, you're GOLDEN for $_____. That's power for 2 reasons:

1. You're not wasting your time. You know what's real and you're armed for battle if you find the home of your dreams.  

2. Sellers in today's market DEMAND Buyers get a strong pre-approval, especially​ banks selling foreclosed homes. 

Check out the vid below on this subject by KW International. In the meantime we want to thank Matt Hickman of Academy Mortgage for some fine insights on this subject - he's one of the very best. If you'd like to inquire with Matt about YOUR home loan, he can be reached at 435-632-6811, or matt.hickman@academymortgage.com to discuss a home loan pre-approval. 

Getting a Mortgage? Don't expect any favors from your old bank.

by Jeremy Larkin

Are people getting mortgages? YES. Is it as easy as it used to be? THANK HEAVENS NO.

We've recently had many would-be Buyer clients tell us that they met with their "old bank" and the bank wouldn't just give them a home mortgage loan right there on the spot.

That was 2005, (or maybe 1935?), this is 2010 - post real estate melt-down. The banks learned their lessons so don't plan on running down to your old Savings & Loan and saying, "Barney, how's the wife and kids? I need a loan - where do I sign?"

We've all got to jump through the hoops of the mortgage system now, and that's just fine.

Displaying blog entries 1-3 of 3

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Photo of Jeremy Larkin - The Larkin Group Real Estate
Jeremy Larkin - The Larkin Group
Keller Williams Realty
50 E 100 S, Suite 300
St. George UT 84770
435.767.9886
Fax: 435-359-5085

St. George Real Estate - Your premier destination for St. George,Utah Real Estate Listings, Home Values, MLS Search, REO/Foreclosure Info &  St. George Real Estate Statistics.  Serving St. George, Santa Clara, Ivins, Washington, Hurricane, LaVerkin, Toquerville & more! Specializing in REO/foreclosure properties, frustrated Sellers, First-Time home buyers, and Investors. Looking for the most LOCAL St. George, Utah real estate information available? Your search is over!