Don’t Let Scary Market Conditions Keep Your Buyers on the Sidelines
The law of supply and demand is alive and well in a seller’s market — good news for sellers, but bad news for your buyers.
This type of environment doesn’t only increase prices, it also heightens competition, creating a less-than-ideal scenario. Thin inventory coupled with high-demand can result in properties slipping through your buyers’ fingers. And when buyers keep striking out, they’re more likely to move to the sidelines and wait for inventory to improve.
Keeping them in the game puts pressure on you, so some uneasiness is to be expected. But you shouldn’t fear a highly competitive seller’s market. Your buyers can come out as winners and be victorious in the end — but only if they have a competitive edge, hence the importance of our FasTrac lending approach.
A mortgage pre-qualification is an excellent starting point when buying a home.
Unfortunately, this isn’t always enough to capture a seller’s attention and get your buyers to the finish line. A conditional loan approval is what catapults an offer ahead of everyone else’s, improving the odds of your clients getting a home they actually love, rather than settling on the haunted house around the corner.
Here’s how a FasTrac approval works:
An underwriter reviews your buyer’s income, credit, employment, and assets before they begin looking at homes. Your buyer then receives a conditional loan approval indicating a maximum purchase price for which they qualify.
This process helps your buyer to have a clear understanding of how much house they can afford, and once they find the right house, it helps them to place a strong offer that clearly demonstrates their level of commitment to closing the transaction. FasTrac creates a more efficient and positive lending experience, helps drive an on-time closing with no last-minute surprises, and gives both you and your buyer a powerful resource to take on a fierce seller's market and win!
Give me a call to further discuss how we can get your buyers on the FasTrac. Let’s reaffirm why we’re better together.