Isabelle V. Laub, GRI, PSA
Unparalleled Real Estate

On Your Mark, Get Set, Go!

I like to win. If you’re like me, you do too. I prepare to win each time I enter a race or competition of any sort. I put in the training I know I need to finish first, or at least to be competitive in the top heat. A model friend of mine does the same in advance of a photoshoot: Before a bikini editorial, she modifies her diet and ramps up her grooming for one month in order to look her best in the magazine. It’s all about entering the race knowing you’ve done the very best you can to compete on a winning level.

This same work ethos should extend to your real estate purchasing power. To be competitive in our Bay Area real estate market, you must get pre-approved at the outset (see below). Without a pre-approval letter, you may not even qualify to show up at the race, as many sellers will not consider letting you in the door without one. Why is this? Because after you fall in love with their property and decide to make an offer, you must now spend several precious days collecting and submitting your financial data to your mortgage lender so that he can determine the loan profile for which you qualify. In the meantime, your pre-approved competition is already scheduling their home inspection to put them in a position to waive that contingency in their offer, making it much more alluring to the seller. A seller will not wait for you to get your act together.

Let’s show up prepared the first time. Avoid the aforementioned scenario by getting pre-approved today. Call me for a referral to a mortgage broker who may best serve you. It would be my pleasure to position you for a win the next time you are ready to purchase an incredible property.
Pre-qualified vs. Pre-approved
Being pre-qualified does not count for much in the San Francisco/Marin market. That simply means your lender has done a cursory screen of your verbal financial information and has provided a rough estimate of what you might be able to afford. It will not help you to purchase your dream home.

On the other hand, a mortgage pre-approval takes the preliminary loan process a step further. Additional financial information is gathered, likely including a credit report. In some instances, you might be asked to provide many of the same documents that will be required to complete the actual loan process, including tax returns, bank statements and employment verification. With a pre-approval letter from your lender, real estate agents and sellers know you are a serious buyer. This letter will be shown to sellers when bidding on a property and proves that you already have backing and the ability to go through with the sale, making you a much more attractive buyer to the seller.
I am delighted to connect with you and look forward to discussing any real estate related questions or concerns you may have.
Isabelle V. Laub, GRI, PSA
415.533.2332 mobile
Coldwell Banker Global Luxury
Coldwell Banker Global Luxury
Pacific Heights Office
415.474.1750 office
415.771.1264 fax