One of the very first steps one should take when considering a home purchase is speaking to a lender(s) to get pre-approved. I’ve had a number of people inquire recently about new REO listings in SLO and by the time they call me it’s either too late because multiple offers have already been submitted and/or they haven’t spoken to a lender to figure out if they can qualify. It is very important to be ready to move quickly with an offer on any well priced property, especially REO’s and short sales. Pre-Qualification letters are an essential piece of a solid offer. And as the saying goes, “Snooze You Lose”.