Bellevue, Tennessee (WTVF) – Some mortgage lenders have been criticized as they try to keep up with pre-approval requests.
Loans consultant Elizabeth Hamilton of Caliber Home Loans said buyers have not yet received all their pre-approval emails.
“I would start with pre-approval before you ever start looking for a home so that you have a realistic idea of what you can afford,” Hamilton said.
Since cash buyers come from out of state, most listing agents will ask for a prior approval letter even for review.
“With prices going up, with the out-of-town and competitive nature of it, I have to go and make adjustments for them so that all we can do is kind of roll around and be flexible,” Hamilton said.
In addition, she will have to make changes if buyers want to purchase a more expensive home.
Right now, she said she was in touch all the time. “I really try to be more approachable than I have done in the past, just so that if there is an offer it can compete with another,” Hamilton said. “I can fight for my customer, that’s what I would like to offer.”
Finally, many deals take longer to close because buyers are in multiple bidding wars.
“Just be proactive, make sure you have enough pre-approval time. We can usually fix things pretty quickly, but every situation is different, ”Hamilton said.