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Rainmaker
4,558,684
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

A pre-approved buyer who is reasonable, ready and wants to work with me is a good thing.  A very good thing.  If they do not have a qualified and reputable lender, I can recommend one.  

Nov 19, 2016 12:57 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I will ask them to get pre-approved from a lender that I know.

Nov 19, 2016 12:40 AM
Rainmaker
1,723,576
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

We give them several lenders to choose from and let the lenders deal with complianc

Nov 19, 2016 05:33 AM
Rainmaker
2,352,880
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

I want them to use a lender that I know

Nov 19, 2016 05:15 AM
Rainmaker
1,157,785
FN LN
Toronto, ON

I would not provide them with the CFPB toolkit as it is designed for a different country.

Nov 19, 2016 04:29 AM
Rainmaker
4,272,524
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I usually require something from the lender they will be using or are familiar with.....f

Nov 19, 2016 04:20 AM
Rainmaker
4,859,376
Richard Weeks
Dallas, TX
REALTOR®, Broker

I send them to a preferred lender.

Nov 19, 2016 03:59 AM
Ambassador
5,036,439
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

We will have an initial discussion about their needss, etc. and if they are not yet pre-approved I request they do so and provide several options. If they are not willing, we will not be working together

Nov 19, 2016 03:25 AM
Rainmaker
5,583,178
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

all of the buyer's of the peeps for whom I market are pre-approved by the lender before they put any effort into providing a service for them...

Nov 19, 2016 03:01 AM
Ambassador
3,340,780
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

I refer them to a lender for pre-approval. 

Nov 19, 2016 02:57 AM
Rainmaker
658,281
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 602.710.8161 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Fred, the AZ contract has a section which refers to the Pre-Qualification Letter. It must be signed by the Buyer and Lender. The contract is much stronger if the letter is attached with both signatures. So, I encourage the Buyer to have a conversation with a lender and produce the PreQual letter asap.

Nov 19, 2016 02:36 AM
Rainmaker
3,986,196
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I will do a quick pre-qual and then meet one time.  After that they need to show me they have been pre-qualed at the bank.

Nov 19, 2016 02:15 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

First meet is a compatibility check. Green light means advising buyer that when they see the house they want, 100 others are going to want it too so we will need to be FAST. I don't want you to endure a broken heart when 'the one' is purchased by another. Email me your preapproval tonight.

Nov 19, 2016 02:10 AM
Rainer
150,416
Michael Thacker - Re/Max Real Estate Center - Louisville
Re/Max Real Estate Center - The Thacker Group - Louisville, KY
Your best friend who just happens to be a Realtor

I always insist that they are approved, or we don't waste their time or mine looking at homes.

Nov 19, 2016 01:25 AM
Rainmaker
5,197,759
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I have them pre-approved at a lender I know and explain the process before we begin!

Nov 19, 2016 01:11 AM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Fred Griffin I would recommend a reputable lender.

Nov 19, 2016 12:48 AM
Rainmaker
5,096,966
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

If they have not been pre-approved by a reputable lender when they first come to me,  I send them to one of my own. That's about it.

Nov 19, 2016 12:45 AM
Ambassador
5,205,500
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Yes, I do both and request that they contact a preferred lender who I know will get the job done for them...and in a timely fashion, meeting all contractual deadlines! 

Nov 19, 2016 12:45 AM
Rainmaker
1,712,551
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Yes, and I have a Chicago Title financial estimate program that comes with the CFPB timeline.

Nov 19, 2016 12:41 AM
Rainmaker
4,909,678
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I have them with the lender before in my car

Nov 21, 2016 01:09 AM
Rainmaker
1,499,518
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I give them to a trusted lender.  I don't trust anything else for MY buyers.  If they chose to use their own lender, I have a chat with the lender.

Nov 20, 2016 09:11 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

If they are "lenderless" we refer them...

Nov 20, 2016 02:41 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I ask them if they have been preapproved.If they need recommendations I give them 3 names.

Nov 19, 2016 10:34 PM
Rainmaker
987,752
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

I always make sure they have this immediately before we start looking - it's almost a requirement here now

Nov 19, 2016 08:51 PM
Rainmaker
3,415,644
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

SOme times I do the initial vetting and others i send them right to a couple of my favorite local and trusted lenders to pre qual them for me, and get the ball rolling

Nov 19, 2016 08:34 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Fred Griffin - good idea, never done that. Thanks for sharing.

Nov 19, 2016 03:50 PM
Ambassador
6,364,089
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

You may want to do both.

Nov 19, 2016 01:29 PM
Rainmaker
2,224,473
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I will show property, within reason, to someone that is pre qualified. Then I talk with the buyers and have them talk to a lender. 

Nov 19, 2016 11:57 AM
Ambassador
3,727,581
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

I tend to delegate the task of pre-approving clients to a local lender. 

Nov 19, 2016 09:41 AM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

If the preapproval is coming from a lender I trust then I do not worry. If it is an unknown lender or one with a bad reputation I will make follow up calls and even try to get the buyer to switch.

Nov 19, 2016 07:03 AM
Ambassador
3,583,395
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

I refer them to our preferred lenders and let them run that show.

Nov 19, 2016 06:39 AM
Rainmaker
898,478
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

A letter from a lender is best, or from a financial institution attesting to availability of funds if cash.

Nov 19, 2016 05:51 AM
Rainmaker
7,802,414
Roy Kelley
Retired - Gaithersburg, MD

I alway refer prospects to a mortgage loan office if they plan to use financing.

Nov 19, 2016 05:38 AM
Rainmaker
529,983
Kathryn Acciari
Central One Federal Credit Union - Shrewsbury, MA
Mortgage Loan Originator

If the buyer does not have what appears to be a solid pre-approval, then I definitely recommend (and require) pre-approval from a mortgage lender in my network of trusted reps.

Nov 19, 2016 03:27 AM