realestateadvice

To tour all for sale homes, you now need a pre-approval letter

It wasn't this extreme before the pandemic, but I am seeing about 40% of all homes on the market now require a buyers loan pre-approval letter just to get in to see the property.

With the Coronavirus still playing a roll in all of our lives, more and more sellers only want to grant access to serious buyers.

I anticipate this percentage to only go up from here.

The days of casually looking at homes on the market are over.

If you want to see ALL the homes on the market, have your pre-approval letter ready!

TO TOUR ALL FOR SALE HOMES, YOU NOW NEED A PRE-APPROVAL LETTER..jpg

How long is the escrow period?

Buyers using cash to purchase a home typically close escrow in 7-14 days.

Buyers using a conventional loan to purchase a property (at least 5% down payment) typically close in 30 days.

Buyers using FHA loan to purchase a home (3.5% down payment) typically close escrow in 45 days.