Special offer

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Rainmaker
911,448
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Probably not, but at some point early in the process it will help determine a few key items like buyers price range, and if buyer even appears to be able to qualify for a mortgage, etc.

Jun 28, 2015 11:05 PM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Randy Hilman, Associate Broker, GRI, CBR Pre-qualification letters don't carry much weight any more. A pre-approval letter is a must.

Jun 28, 2015 11:02 PM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

No, you should not. 

Why? A pre-qualification is WORTHLESS! 
So, you must decide the VALUE you will place on YOUR time.

You must insist on a PRE-APPROVAL.

That is why the first meeting is at the office where the inhouse mortgage lender is ready to provide exactly what is needed.

You have made a promise to All Listing Agents to bring only QUALIFIED buyers into the house.  Keep your promise, and communicate that to the buyer. 

Jun 28, 2015 10:21 PM
Ambassador
6,393,609
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Absolutely, why waste your time and the sellers on people who are not serious.

Jun 28, 2015 04:41 PM
Rainmaker
979,496
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Randy - I don't know if you need to insist before showing them any homes. I think it all depends on how well you may know the clients, had you met them prior to getting ready to show them homes, and what else do you know about them and their financial situation. I would certainly ask for something from the lender as soon as possible.

Jun 28, 2015 04:09 PM
Rainer
216,904
Sharon Altier
Coldwell Banker Realty - Elmhurst, IL
Luxury Property Specialist, CSC, SFR

I do. It tells me they have sat down with a lender, been informed of the lending process and what they need to do to purchase a home.  It also tells me they are ready to purchase, since they took the time to investigate the financing aspect of the purchase.  I tell them if we find the perfect home, we would submit the letter with the offer.  Otherwise, they may find the home, but lose it if they don't have evidence to show they have met with a lender.  It is considered a stronger offer if the letter is submitted with the offer. The Seller doesn't want to wast etime considering an offer from someone who has not yet investigated their purchasing ability.

Jun 28, 2015 01:42 PM
Rainmaker
699,277
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

We no longer accept pre-qual letters.  They mean nothing at all.

Jun 28, 2015 12:42 PM
Rainmaker
292,685
Jack Lewitz
Exit Strategy Realty - Evanston, IL

Not right away but I do bring it up after I shiw them homes on the first day.

Jun 28, 2015 11:45 AM
Rainmaker
687,136
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

We have that discussion on the first meeting because I need to know what they are looking for, in what price range, and how they are going to pay for the home. I won't show homes unless I'm satisfied that they can indeed purchase. Would waste everyone's time. Often I recommend a lender or two.

Jun 28, 2015 10:45 AM
Rainmaker
2,443,250
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I will meet a buyer once without a pre approval.  Some times they are so young they don't know how the process works.

Jun 28, 2015 10:41 AM