Chico Buyers

Busy Girls Guide

Your Chico CA Loan Application- It’s Not THAT Hard!

I haven’t quite figured out the rationale, but the prospect of getting prequalified or preapproved is often an intimidating process for a Chico Buyer.

Kid with broccoli- getting prequalified for a Chico loan isn’t this bad!

For some reason, folks will often avoid it as long as possible, and build it up in their minds to be some horrible, awful procedure. I find myself listening to every imaginable excuse, and smiling, because I know that a mountain is being made of a molehill. It’s kind of like trying to convince your kids that if they would just put the broccoli in their mouth, they will get it over with, and can then move on to the ice cream!

  • First off, a buyer does not have to go to the hassle of making an appointment. No need to get dressed, leave the house, and make your way to a stuffy, intimidating office with some guy in a 3 piece suit! In this age of convenience, many lenders will accommodate your request for prequalification by phone, fax or email. In the span of a short phone call, the lender can get the basic information he needs from you to start the process.

  • Second, just because you talk to a lender to get prequalified, it doesn’t mean you’re married for life! You may decide, after your initial phone call, that you don’t like the way the lender chews gum in your ear. You might also decide, after talking to your best friend, that the lender isn’t very reputable. Fine. NEXT!

  • Third, finding a great Lender shouldn’t be difficult. It should be fairly easy considering you have an excellent resource for a referral in your Chico Realtor. Consider, for a moment, that you’ve already done the work to find a top producing, highly recommended, ethical Realtor that you can actually talk to. Doesn’t it stand to reason, that the Realtor, given the choice, will choose to recommend another professional that will the get the job done efficiently and effectively, thereby ensuring a happy buyer? (In case you’re wondering, there is no $ passed between the lender and the Realtor. The payoff to a referral, is a job well done for the client).

Need a recommendation for a good Chico Lender? Call me.

Related articles:

What is the Difference between Prequalification and Preapproval?

Why Should I Get Preapproved for a Chico, CA Home?

Lenders beware: How to lose a Chico, CA Realtor (and therefore buyer) in 3 days.

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Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico CA Realtor? Call Sandi Bauman 530-864-5407 or email [email protected] Specializing in REO, residential, relocation, investment & ag property.

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New Year’s Resolutions: Get Yourself Ready for Your First Chico Real Estate Investment

Hoping to purchase your first Chico CA home in 2008?

Chico calendar

Here are a few items that should be on your New Year’s Resolution list if you want to earn that coveted title: Chico CA HOMEOWNER!!

1. Speak to a local lender. First and foremost, talk to a reputable lender. If you need a recommendation, I would be happy to provide you with a name I respect. A good lender will run a detailed credit history report right away so you know what you have to work with. If the numbers are doable, the lender can then give you an idea of what price range you might be comfortable in searching for a Chico home.

On the other hand, if opportunities to improve your score are available, the lender can offer you suggestions of what to work on, and how soon you might qualify for a more appealing loan package. Read more on the prequalification process:

What is the Difference between Prequalification and Preapproval?

Why Should I Get Preapproved for a Chico, CA Home?

2. Start considering what features in a home are most important to you. Do you need room for 5 dogs to run around? Do you love to cook? Do you need storage space for 50 pairs of shoes? How critical is a garden tub in the master bath? Do you want to be able to walk to the grocery store?

It may seem like putting the cart before the horse, but I would encourage first time home buyers to really put some thought into what home features will fill their individual needs. It’s better to save yourself time trekking in and out of tons of open houses that you won’t end up liking once your common sense kicks in. Try to narrow in on what will actually work for you.

3. Get a feel for neighborhoods and schools. Again, what sort of home will your lifestyle dictate? Do you want your children within walking distance of schools and friends? Or will a 15 minute drive each night to the seclusion of your own acreage be more fulfilling? Do you want to park yourself in between homes full of college kids, just because the house has a “vintage” feel, or would you prefer to be in a more quiet, traditional neighborhood full of working professionals? Whenever I’m researching a new neighborhood, I spend a LOT of time driving around. Consider not only the types and sizes of homes, but the vehicles in the driveway (perhaps on the lawn?), the proximity to local services and your place of business. If possible, talk to the locals! You will find out everything you ever wanted (and more), by simply approach the folks walking around the block.

4. Start packing! You will be grateful when the time comes to actually move that you put in the effort now to start organizing. Clean out those closets, box up unused items in the kitchen and the garage, and prepare yourself mentally to relocate. Get some of that physical work out of the way now and relieve yourself of some intense stress later.

5. Save for that down-payment and good faith deposit. Last, but definitely not least, start saving and planning for your down-payment and closing costs. While there are 100% financing options available, they aren’t always your best bet in the long run. If you can at least come to the table with your closing costs covered, you will be in better shape.

What is a Good Faith Deposit, and Why Do I Need One?

Getting organized, preparing financially, and gaining knowledge about where you will be living will help make choosing your Chico real estate investment as smooth as possible.

Happy house-hunting!

Subscribe to: Chico CA Real Estate Blog and MLS Listings Search!

Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico CA Realtor? Call Sandi Bauman 530-864-5407 or email [email protected] Specializing in REO, residential, relocation, investment & ag property.

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Lenders beware: How to lose a Chico, CA Realtor (and therefore buyer) in 3 days.

I would say, as far as Chico CA Realtors go, I’m fairly easy to get along with. I typically play nice with my peers. My end of the work is done in a thorough manner, and on time. If, as a lender, you do your job well and respect my clients, I will happily recommend you to future Chico, CA buyers.

That is, I’m easy to work with UNTIL you tick me off.

If I feel that an unethical action (or lack of an ethical one) on your part has jeopardized my clients in some way, then be prepared to make it right. On the client’s behalf, I will hold you as accountable as I can. You probably won’t like it much…. just so you know. Once we get them taken care of, I won’t be bringing you any new business.

How to lose a buyer in 3 days (or less!)

1. Ignore phone calls and emails.

2. Intentionally leave off or reduce known fees on the good faith estimate.

3. Quote them one rate when you are fully aware that they won’t qualify.

4. Assure me that you can close the loan on time when you won’t be doing so.

5. Tell us that the buyers are prequalified for a specific loan, when in fact, you haven’t done the work.

6. Assure me that you have everything you need to close when you HAVE NOT received all documentation.

7. Bait and switch my buyers at the closing table. That interest rate better be pretty darn close to the quoted one!

8. Abandon us at the closing table. You should be there to explain any and all concerns the buyer has regarding his loan papers.

9. Be incapable of admitting that you don’t know, or have made an error. I’m not perfect, and don’t expect anyone else to be. If you make an error… just say so! Don’t run us around and waste more time.

Whew!!  (I’m glad I got that off my chest).

It frustrates me to no end when a lender does not represent his or her clients with an ounce of honesty, fair dealing, common courtesy or professionalism. That client is supposed to be the one we are both protecting!!

Lenders: If you’re looking to lose a client, a Realtor, and any potential for future business, any of the above actions should get you there in no time at all.

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Buyers: If you need assistance locating a competent, Chico, CA lender to assist you in your home buying experience, feel free to call me for a recommendation! I can be reached at 530–864–5407. It’s wise to choose carefully, in order to avoid the nightmares, and save time later!

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Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico CA Realtor? Call Sandi Bauman 530-864-5407 or email [email protected] Specializing in REO, residential, relocation, investment & ag property.

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Why Should I Get Preapproved for a Chico, CA Home?

It’s important to be preapproved BEFORE you start searching fChico CA home preapprovalor a Chico, CA home

Time is always of the essence. There’s no use fooling around doing things the hard way when you can go straight for the gold. By investing a very minimal amount of time before you start shopping for a house, you will save yourself immeasurable time and grief later. Trust me.

1. If you don’t get preapproved, how do you know what price range you should be shopping in? There is nothing worse than spending months looking for the PERFECT house, only to find out later that you can’t make it work financially. Save yourself the pain- don’t guess!

2. It’s best to try to keep your Realtor happy! Like you, she’s busy. The last thing she wants to do is spend endless hours trying to find you a house that you can’t afford. To get the most attentive, personalized service from your Chico, CA Realtor, make sure that you’re ready to pass “GO”. Provide her a preapproval letter so that she knows what your ideal price range is. You will find that she will be dedicated and expedient in exposing you to all of your options, thereby saving YOUR time.

3. Make yourself more appealing to the seller of your dream home! When you put an offer on a house, one of the first things the seller will want to know is whether or not you can afford it! The seller will be less excited about accepting your offer if there is a question about your loan getting approved. After all, he doesn’t want to pull his home off the market only to find out 30 or 60 days later that your loan won’t go through. He would be jeopardizing his chances of securing another buyer.

Also, consider this: If the seller were to receive 2 identical offers, with one buyer being preapproved and the other NOT, which buyer do you think will ultimately have their offer accepted? Of course! The buyer with the preapproval letter.

Call me today at 530-864-5407 for assistance in getting preapproved for your Chico, CA real estate purchase. I can put you in touch with a lender immediately to get the ball rolling.

Getting preapproved is the best thing you can do to get started on the path to home ownership!

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Looking to buy or sell Chico CA Real Estate?  Need a Top Producing Chico CA Realtor?  Call Sandi Bauman 530-864-5407 or email [email protected]  Specializing in REO, residential, relocation, investment & ag property.

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Sandi Bauman (Chico Homes): Real Estate Agent in Chico, Butte County, California
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