Housing market is too far gone.

nightmarecinema

OT Supporter
Nov 8, 2004
2,933
West TX
Nice fuckin house tho. A bit outside of town, but in an established part of town where all the golf courses are.

If I want to make an offer I'm sure my agent will want me to use his people to pre-qualify and all that shit, how do all you bros break those chains and use @saabguy ? Or does that happen later? Admit to being a noob here, bought in 2014 and then sold in 2016 due to being moved for work, have had to move too frequently since to seriously look at buying again.
 

nightmarecinema

OT Supporter
Nov 8, 2004
2,933
West TX
To clarify, I use this same agent who showed me the house to rent the one I'm currently in, I'm sure thats why he didnt require me to prove I can afford a certain range before feeding me listings
 

kwhitelaw

OT Supporter
Sep 1, 2004
38,129
virginia
Nice fuckin house tho. A bit outside of town, but in an established part of town where all the golf courses are.

If I want to make an offer I'm sure my agent will want me to use his people to pre-qualify and all that shit, how do all you bros break those chains and use @saabguy ? Or does that happen later? Admit to being a noob here, bought in 2014 and then sold in 2016 due to being moved for work, have had to move too frequently since to seriously look at buying again.
Regardless of @saabguy infinity to making bad decisions with everything in life, if you have a preapproval already send it to your agent (ideally) before you physically step foot in a house.. that way, if you walk something and like it you're ready to go with attaching that preapproval to your offer. Around here no listing agent is gonna give any weight to an offer without a letter attached upfront. And you don't want to view something on a Saturday morning and have to wait until Monday to get that letter as it might be too late to submit
 

nightmarecinema

OT Supporter
Nov 8, 2004
2,933
West TX
Or it’s west Texas and everything is cheap
Sheesh it used to be just a couple years ago. Still cheap compared to major population centers, but prices have still popped on 250-300k dollar houses to 350-400 within the past 2 years. The percentage there has defrayed me, but I'm not talking about Midland/Odessa so I don't feel like I'm buying into some kind of crash.
Although I think I see what you did there now, anybody with a pulse could get preapproved for that kind of range. Fair enough, I'll give you that.
 

nightmarecinema

OT Supporter
Nov 8, 2004
2,933
West TX
Regardless of @saabguy infinity to making bad decisions with everything in life, if you have a preapproval already send it to your agent (ideally) before you physically step foot in a house.. that way, if you walk something and like it you're ready to go with attaching that preapproval to your offer. Around here no listing agent is gonna give any weight to an offer without a letter attached upfront. And you don't want to view something on a Saturday morning and have to wait until Monday to get that letter as it might be too late to submit
I have a friend in San Antonio who prequalified me, idea was if I found my house and used him to make the offer and all the work after that, he'd funnel back majority of the buyers comp to me. Before getting started he had my prequal with his group. He just wasnt attentive enough so I decided to leave him behind and use somebody local. But I get what you're saying, if I don't want to use my agents funding I ought to find it now so that it's there and ready to staple to an offer if/when I finally find something I want to bid on
 

kwhitelaw

OT Supporter
Sep 1, 2004
38,129
virginia
I have a friend in San Antonio who prequalified me, idea was if I found my house and used him to make the offer and all the work after that, he'd funnel back majority of the buyers comp to me. Before getting started he had my prequal with his group. He just wasnt attentive enough so I decided to leave him behind and use somebody local. But I get what you're saying, if I don't want to use my agents funding I ought to find it now so that it's there and ready to staple to an offer if/when I finally find something I want to bid on
If I'm understanding correctly, your "friend" is an agent and not a loan officer.. If he offered you a kickback from his commission it shouldn't matter to him who you use, assuming his preferred lender isn't kicking him back money for him getting you to use that lender
 

nightmarecinema

OT Supporter
Nov 8, 2004
2,933
West TX
If I'm understanding correctly, your "friend" is an agent and not a loan officer.. If he offered you a kickback from his commission it shouldn't matter to him who you use, assuming his preferred lender isn't kicking him back money for him getting you to use that lender
You are correct, he's an agent with a company that is partnered with a loan company. I didnt think far into or discuss terms with him, but I doubt he would have held using his preferred lender as deal breaker. Either way, he's too busy in San Antonio to help me so I've moved on.
 
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May 8, 2001
30,976
Colorado
Nice fuckin house tho. A bit outside of town, but in an established part of town where all the golf courses are.

If I want to make an offer I'm sure my agent will want me to use his people to pre-qualify and all that shit, how do all you bros break those chains and use @saabguy ? Or does that happen later? Admit to being a noob here, bought in 2014 and then sold in 2016 due to being moved for work, have had to move too frequently since to seriously look at buying again.
"I'm already working with someone, but I will let you know if anything changes." Generally, they're just trying to steer you towards using someone local that they already have a relationship with.
 

kwhitelaw

OT Supporter
Sep 1, 2004
38,129
virginia
"I'm already working with someone, but I will let you know if anything changes." Generally, they're just trying to steer you towards using someone local that they already have a relationship with.
Which isn't necessarily a bad thing. My local guy has been in it forever, I've had buyers agent strike up a convo when discussing my clients offer cause of the preapproval cause they've done business with the loan officer etc and feel confident that we'd get to closing no issues etc
 
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victor77

Internet Crew
OT Supporter
Mar 13, 2011
46,563
Internets
Nice fuckin house tho. A bit outside of town, but in an established part of town where all the golf courses are.

If I want to make an offer I'm sure my agent will want me to use his people to pre-qualify and all that shit, how do all you bros break those chains and use @saabguy ? Or does that happen later? Admit to being a noob here, bought in 2014 and then sold in 2016 due to being moved for work, have had to move too frequently since to seriously look at buying again.
Just PM him, your agent can work with any pre-qual you have. You don't have to use their guy.
 
May 8, 2001
30,976
Colorado
Which isn't necessarily a bad thing. My local guy has been in it forever, I've had buyers agent strike up a convo when discussing my clients offer cause of the preapproval cause they've done business with the loan officer etc and feel confident that we'd get to closing no issues etc
For sure. It's also nice being able to call/text just about any time and get an answer.
 

Bugalu

OT Supporter
Nov 23, 2003
58,662
Nashville
Which isn't necessarily a bad thing. My local guy has been in it forever, I've had buyers agent strike up a convo when discussing my clients offer cause of the preapproval cause they've done business with the loan officer etc and feel confident that we'd get to closing no issues etc
THIS. I have got multiple houses under contract because the LA had worked with my lender before.

I get zero dollars from him, maybe a lunch or 3 a year. I have lenders offer me booze, to use their condo in FL, or concert tickets. Fuck that. That’s not in the best interest of my clients cause I know they will fuck it up somehow 25 days in
 

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