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What is American Mortgage Pre Approval Plus?

Posted on June 2, 2014 by Michael Weaver in and Pre Approvals to buy Real Estate in Indianapolis

So, you are a Real Estate professional, and you have been selling homes for years. You know that when you get an offer, it is customary to accompany that offer with at least 2 other pieces of paper. You are looking for an Earnest money check, a copy will do, and you would like to see how

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they intend on paying for this transaction. So, you will want to see a Proof of funds or a pre approval letter. Now, over the past 8 years I have been in the real estate world, the pre approval letters have became less and less important, it is the name on the top that is what interest me. I have nothing against small companies, but having a large bank’s name on the paperwork isn’t always a sure thing either. As a seller’s agent, how can you be sure that the buyer you have procured is in fact qualified to purchase your client’s home? You can call the lender, and typically you will not get too much information out of them, for security purposes, this is completely understandable. So, what if there was a way to be sure a deal would work if the buyer was obtaining financing as

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apposed to paying cash? Is there such a way to have a buyer getting a loan to have the same certainty of closing that a cash buyer brings to the table when they offer on that same property? YES! Today there is. American Mortgage has brought a wonderful solution to the market called Pre Approval Plus. What is Pre Approval Plus? Well, this is a program which a buyer can go through all the underwriting requirements to get fully approved for the loan minus the small details(Home needs to appraise for the value, and the title work needs to be done). So, Real Estate pro, you know that there are three things that can screw up a deal once you have an accepted offer. You have to get through inspections, appraisal, and then financing. Well, the one you control the least, the financing can be the least of your worries. If you have done your job correctly as a listing agent, you should be able appraise for the value(Unless the appraiser is having a bad day, we know they have them often), and the inspection can usually be worked through depending on the condition, and how attached the buyers are to the home. So, really the pre approval plus is like having a cash buyer. Can you imagine your conversion rate of selling homes if you had all cash buyers? This would be incredibly helpful in winning multiple offer situations, and other tough negotiations. This step is so simple, it really is all about just being a prepared buyer. You are putting all the hoops that a buyer has to jump through before they find the house, and that’s it. Nothing to it! So, for your next buyer, send them to American Mortgage to see how a Pre Approval may just be the best solution for them buying their next home. I promise it will make your job as the listing agent worry much less about a deal falling apart because of the financing, and as a buyer’s agent this will make your life much easier when writing offers in multiple offer situations. Get pre approved plus today!

 

If you would like to talk to someone directly about more information on the Pre Approval plus, and how it can help you, Call Chris Minor at American Mortgage 317-563-1122. Shoot him an email at chris@chrisminorteam.com.


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