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Featured Article

Take the Upper Hand in Negotiations

Grabbing an Edge in the Competitive Kirkwood Home Market

Article by Mike Swaleh, Fairway Area Manager

Photography by Heidi Drexler

Originally published in Kirkwood City Lifestyle

If 2020 is your year for moving up or downsizing, be aware of one small thing you can do to make a big difference in this process. Once you find your dream home, the rubber meets the road fast: you’ve got inspections, appraisals, renegotiations, movers to schedule…the list goes on and on. Why would you wait until then to go through underwriting? Captain Obvious can tell you how important it is to be Pre-Approved before you go house-hunting, but few people realize they can take things a step further. Part of being a great Loan Officer is helping buyers through this process. The best LO’s are 50% Math Whiz, and 80% Psychologist (you’ve added that right; they’re superhuman). Ask for a fully-underwritten preapproval. Getting your loan fully approved in advance means the hardest part of the mortgage is out of the way before making the first offer. Now, you have the flexibility to be able to move super-fast with a strong competitive edge in securing your beautiful new home. 

3 Ways to Help You Win

1. Upper Hand in Negotiations

Above all else, sellers want certainty. Banks may hand out preapproval letters based off of quick conversations, so “pre” approvals provide no guarantee. As a fully vetted buyer, you have an edge that places you in a better position to negotiate on other factors, like price or concessions.

2. Manage the Anxiety

Many buyers breathe a sigh of relief that they have already dealt with documentation before finding the right property, instead of during the purchase process.

3. Move Fast, Strategically

Having the flexibility to move super-fast if benefits you. Submitting an offer that says, “I’m so well qualified that I can close in 15 days,” may be exactly what a seller wants to hear.