Because of the subprime lendor issues we’re seeing now, you’ll want to talk to a mortgage broker BEFORE you start looking at homes. More and more Realtors are requiring a prequalification letter before they will take their time to show a home. This is justified as a Realtor only gets compensated for their time if they represent a client on a successful transaction. Some people don’t understand that a Realtor doesn’t get paid a salary. Also, if you don’t plan on using a particular Realtor to represent you with buying or selling a home, please don’t ask them to do work for you. I’m sure not many people are willing to work for free and that includes Realtors!
If you make a request to view a home, please make sure you have a prequalification letter from a mortgage broker or bank. I’ll soon be adding a form you can fill out to get a qualified if you already don’t have one.