…and how to make your transaction as smooth as possible!
Get Pre-approved
Help get the ball rolling by getting pre-approved for a loan, before you put an offer in. By doing so, you can take control of your finances and know exactly what you’re working with, which gives you power. Buyers who have been pre-approved by a lender are generally able to finalize their loan applications faster and more efficiently compared to those who did not get pre-approved. Getting pre-approved also shows the seller that you are serious.
Get Your Paperwork Organized
Collect and organize your bank statements, pay stubs, tax returns and other documents, before you start the buying process. Some of these documents will take longer than others to acquire, better to start the process sooner than later.
If you aren’t sure which documents you might need, ask your local bank for a “mortgage loan checklist”. Most lenders even have them online, check to see if they have a guideline regarding what you’ll need.
Pick the Right Lender
Whether you decide to go with a mortgage broker, or work directly with a lender, ask them ahead of time the average time is for processing a loan application and more importantly. How quickly they’ll be able to complete your mortgage. Try to prepare for potential setbacks, like credit or employment-related problems you know exist and ask how you can clear those up.
Create Realistic Closing Timelines
When scheduling repairs, especially those that the other party is responsible for, schedule them with plenty of time to spare before closing. There’s nothing more frustrating than having to close behind schedule. This is especially true if you’re scheduled near a holiday. For example, the 4th of July on the Oregon Coast is our busiest time of the year, allowing extra room for unknown variables helps to better ensure quicker closing times.
If you are interested in Manzanita Real Estate or Surrounding areas. Please feel welcome to reach out.
Tosha Reinmiller
Principal Broker
Living Room Realty – Manzanita
(541) 231-5829
tosha@livingroomre.com