In this class, agents will learn the difference between the two, how they affect a buyer’s negotiating power, and how they compete against other offers when presented to sellers. We will go through the process of a Pre-Approval, so agents are educated on the importance (and ease!) of having their buyers obtain pre-approvals through our loan officers. Learn the basics of how loan officers evaluate customers. Have they pulled credit? Have they reviewed income documents? The loan officer is not a underwriter, no matter how much they think they are. Sometimes the Pre-Approval is actually a Pre-Qualification in disguise. Protect your listings and protect your clients from misleading information. Have you ever heard of DU or LP? They are the true pre-approval tests. If the deal is really “pre-approved” you should review these transactional underwriting findings with your loan officer. Learn how to make a properly structured pre-approval look just as good as a cash offer. If the deal truly was pre-approved, it’s almost as good as CLOSED! The process becomes much smoother and you will find yourself sitting at the closing table sooner than ever.
Taught & Sponsored by: Norberto Maldonado, Crown Mortgage
Go to: greaterbergenrealtors.com to register.