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Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

We positively establish how much home they wish to purchase, how much downpayment money they have, do they have a preferred lender, pre-qualification letter, and if so, how soon can their lender close escrow. Then if they ask for our lending partners' assistance, we give them at least three to choose from or to shop.

Apr 23, 2015 09:58 AM
Cindy Davis
SD Home Source Realty - San Diego, CA

I ask general questions about income, savings for a downpayment and closing costs . That helps me do a quick assessment of whether we're even ready to start looking for homes.

Apr 23, 2015 09:38 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

I coach many of my Realtor referral partner to ask some very basic questions to make sure time is not being wasted.

Apr 23, 2015 09:32 AM
Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

Yes Diane,  I have been working with a homebuilder and their sales rep request me to talk to the interested party/buyer and ask about their financing plus send them to the builders site for pre approval if they have not been approved.  I don't try to prequalify them.  It's nice to know a few details before spending a lot of time with the prospective buyer.

Apr 23, 2015 09:23 AM
Stephanie Leon | Miami Lakes Realtor®
Realty Empire Incorporated - Miami Lakes, FL
Turning For Sale Into SOLD!

I let the lender qualify them first. Then I qualify the property based on what they  feel comfortable paying not the pre-approval amount. 

For instance I have a Buyer now who only wants to pay $1800 a month but the lender says they can qualify for $2200 a month.. So, I keep them within their comfort zone and only when they want to increase budget we do so...

Lenders are Lenders for a reason. I  don't expect the lender to be showing and writing contracts  to purchase so I don't try to play lender and qualify people.

Apr 23, 2015 08:46 AM
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

I often get my clients raw and I ask if they are pre-approved and are working with a Realtor.

Apr 23, 2015 08:44 AM
J. Scott Harris
Guild Mortgage Company - Plano, TX
FHA/VA approvals at 580+ FICO's

Leave it to the licensed professionals.  Realtors asking pre-qualifying question open themselves up to liability.

Apr 23, 2015 07:09 AM
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

I let the lender take care of getting the preapproval. I do not accept a prequalification.

Apr 23, 2015 06:48 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I will ask.

Oct 20, 2018 06:33 AM
Ajay Pandya
e-Merge Real Estate Unlimited - Columbus, OH
Realtor Ajay Pandya


Apr 28, 2018 06:56 PM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Financial prequal? Lender

Buyer needs to present completed prequal before signing a Buyer Broker Agreement...

Oct 03, 2017 03:50 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

I would pre qualify them emotionally and let the lender do the financial.

Apr 28, 2015 06:37 AM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Both. Mostly to assure they are ready clients.  With some experience I can just look at them and able to tell if they are qualified.  Ask a question like: "Are you working at FB or Aapl will tell me their income level.... I am right about 85% of time. I make a fool out of myself the other 15% time.

Apr 24, 2015 11:55 AM
Trumps Elite
Keller Williams Realty Acadiana - Lafayette, LA
Realtors/Career Consultant

We ask general questions prior to sending them to the lender. It helps determine what direction to send them in. 

Apr 24, 2015 11:03 AM
Spirit Messingham
Tierra Antigua Realty - Tucson, AZ
Third Generation Full-Time Realtor® 520 471-6900

I ask if they have been pre-approved with a lender, if not that should be the next step.  Next?  Start a relationship with a local Realtor.

Apr 24, 2015 03:45 AM
Evelyn M Epperson
Coldwell Banker Residential Brokerage - Johns Creek, GA
A Tradition Of [Excellence, Trust & Service]

When I speak with a buyer over the phone I ask pre-qualifing quesions. I also ask their price point & when they hope to move.  I want to know if the have been pre-qualified or talked with a lender.  Then I setup a buyer consult and have the lender at the consult. 

Apr 24, 2015 02:15 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Absolutely, I ask pre-qualifying questions. Not to qualify anyone, per se, but to know to which lender to refer them to.

Apr 23, 2015 09:43 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I ask a series of questions to see if it is a valid buyer. I then have a good idea of whether there is hope and ask the buyer to see a lender.

Apr 23, 2015 01:12 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Diane M. Phillips Realtor 443-286-4365 - I do ask them basic questions and want their pre-approval from any lender as soon as they can - before we see any home in most cases.

Apr 23, 2015 11:48 AM
Renee Paray
Coldwell Banker Realty - Blue Bell, PA

I always meet my clients before showing them any inventory. I describe the process and what they can expect along the way. During this informational meeting, I tell my clients the benefits of having a pre-qualifying letter from a lender before beginning their home search. I leave the pre-qualifying questions to the mortgage professionals. 

Apr 23, 2015 11:36 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I let my lending partner do what he does best ... qualifying people for loans and explaining their options.  I only ask buyers if they are working with an agent and if they have met with a lender to get qualified to purchase a home. I do not actively work with buyers until they are pre-qualified.

Apr 23, 2015 10:25 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Diane, I generally request buyers bring pre-qualifying letters from a lender.

Apr 23, 2015 10:18 AM