Should You Require A Buyer’s Preapproval Letter Prior To Showings?
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Hey everyone. Just wanted to take a few minutes today, discuss you about when you’re selling your home, why it’s not necessarily the best idea to require that a potential buyer provide you with their preapproval letter in order to see their to see your house. Now, if you’re currently living in the house or if it’s vacant in a certain area, I definitely completely understand why you want this to happen. You want to make sure you only have serious buyers coming through and people who can actually afford to purchase your house. However, doing so can hinder you on the amount of showings that you get for the simple reason of we have to provide this in order to see the house.
Whether I have one or not, that’s one extra step that the agent has to do. It’s not a simple request to show and go see it just like the other houses, which can be a very big inconvenience. If a realtor is out showing homes to their buyer and they just all of a sudden want to see your house, they can’t really do that because they have to send their pre approval letter. So it kind of delays and if they’re already out seeing houses, there’s a big chance they can’t see your house that day.
They’re probably going to go with one of the other houses that they’re already looking at. The other reason for this is that there are a lot of serious and qualified buyers who they won’t get their pre approval letter until they actually see the houses they want for one is they don’t want to be more protective about their assets. And then another reason is because a lot of times there are some buyers out there who they’re not that serious at the time in buying a house. However they see the one that they like, they’re going to jump on it right away. I mean, there’s many times you go out, they’re just looking for the right house.
They go see it, they love it, they get pre approved, they write the offer and they close on that house. And you also kind of want to put yourself in a position too where if there is any possible buyer out there, I want them to come to my house and buy the house. So making a requirement to get that pre approval letter before seeing the house is something that you should consider that it could really have a serious impact on you selling your house sooner versus later because it’d be that much harder to find the right buyer. Now if you really are protective of your house and you’re really concerned about this, a better recommendation would be to just say pre approved buyers only.
So it’s basically saying that we only want pre approved buyers to come to the house. So the people that are just looking, there’s a bigger chance of them not wasting someone’s time to go see a house just because they want to see what it looks like on the inside, but you’re not requiring them at the same time to provide that letter. So it’s basically like saying, we only want serious people only. So hope this is helpful. If you have any questions, leave a comment below or you can email me at [email protected].
All right, thanks. Have a good one. Bye. This has been “Should You Require a Buyer’s Preapproval Letter Prior To Showings?” by Patrice Henderson. Be sure to subscribe to her YouTube channel for all your real estate tips, home tours and advice. Get your FREE listing consultation or home evaluation to see how we can help you attract pre-approved buyers to your home when selling!