Lodi / Stockton CA Homes For Sale & Real Estate Information

There are four very important items of interest that I’d like to point out to not only renters, but anyone looking to buy a home here in the Lodi, Stockton, and surrounding CA areas .

1. Don’t Get “Pre-Qualified”!

Do you want to get the best house you can for the least amount of money?  Then make sure you are in the strongest negotiating position possible. Price is only one bargaining chip in the negotiations, and not necessarily the most important one. Often other terms, such as the strength of the buyer or the length of escrow, are critical to a seller.

In years past, we’ve always recommended buyers get “pre-qualified” by a lender.  This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you “pre-qualified” and issues a certificate that you can show to a seller.  Sellers are aware that such certificates are WORTHLESS and here’s why! None of the information has been verified! Often, unknown problems surface!  Problems I’ve seen include recorded judgments, child support payments due, glitches on the credit report due to any number of reasons both accurate and inaccurate and down payments that have not been in the clients’ bank account long enough, etc.

So, the way to make a strong offer today is to get “pre-approved”. This happens AFTER all information has been checked and verified. You are actually APPROVED for the loan and the only loose end is the appraisal on the property. This process takes anywhere from a few minutes to a few days depending on your situation. It’s VERY POWERFUL and a weapon we recommend all our clients have in their negotiating arsenal.

******* Stay tuned for Number 2…