Prequalification Makes For A Quicker And Easier Home Sale

The process of selling a home has become highly competitive in today's market

. Sellers are always looking for selling home tips in order to make the process quicker and easier for themselves. That's only natural when you sell a house. Everybody wants things to be easy, but it's not always possible in this hectic, overcrowded real estate market. There is one thing that can make a home sale easy, however, and that is avoiding the traditional process of marketing, negotiating, and closing a sale, all of which inevitably involves a buyer applying for a mortgage loan. Mortgage approval is the part of the process that can take longer and create more frustration that all the other parts combined.

So, how can a seller position herself to avoid the frustration of waiting for her buyers' mortgage loan approval to be final? Sadly, pre-qualification doesn't really work anymore. Meaning, having buyers with a pre-qualification or pre-approval letter who want to make an offer on your home doesn't mean that agreeing to sell to them will shorten their mortgage application process at all.

That's how it used to work, but recent changes in the federal lending requirements have made the approval process much more complex. And furthermore when trying to sell a home, now private lenders are adding their own requirements as well. It can seem like an endless sea of paperwork to a new borrower. And worse yet, even when all the requirements have been met the lender can suddenly decide that the documents are insufficient to qualify for a loan at a particular time.

One of the best selling home tips I can offer a seller in the present market is to assess your own financial situation and give consideration to calling a real estate investor who pays cash for homes. Although it's possible to locate a cash buyer through traditional marketing and sales on the multiple listing service, it is rare. In order to speak directly with cash buyers you need to call some yourself, and they are not hard to find. Look in the yellow pages under "real estate investors" and look in the real estate classifieds in your local newspaper and weekly shopper because you will undoubtedly find ads there. Give some investors a call to get an offer on your home that will not involve waiting for buyer financing.

If you decide that route is not for you, then fasten your seatbelt and read all the selling home tips you can find online to prepare your home and to prepare yourself for the home sale process. It can be quite a ride!

by: Leo Kingston

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