Why do I have to be pre-approved? I just want to look...

It's Saturday afternoon and you started looking at homes online. You just found your dream house and would love to take a look inside. There is a phone number associated and you decided to go full steam ahead and make the call.

On the other end is the Real Estate Agent. You talk about the house of your dreams and all of the ideas you have to make it your own. After all, you've been binge watching "Flip this House" and you have some great ideas! 

The conversation is going great until the agent asks the question..."Have you been pre-approved yet?" You stumble because you haven't thought that far ahead yet. Then you think, "why are they asking that, I just want to see it?" 

After telling the agent that you just wanted to see it, they give you a couple mortgage contacts and tell you to let them know once you get approved. You are offended. What a lazy agent!

Before you make a negative review and tell all of your friends about their horrible customer service, there are many reasons why pre-approvals are necessary in today's real estate market. Here are some of them:

• Some homeowners request that only "pre-approved buyers" can enter their home. Since this is the seller's request, agents are required to abide by their stipulations. After all, it is still their home. They may have to find a place to take their pets, children or elderly parents. You do not want to upset the people who ultimately have the call whether to sell their home to you or not.

• So this home is perfect! There will never be another one like it and you are ready to move your stuff right in. But you are not pre-approved yet and the sellers will not even look at your offer. Why should they? How do they know you can even buy it? Why would they take it off the market without knowing if you even have the means?

  

• Or this is the perfect house and you jump into action to get that pre-approval. You get your tax returns, bank statements and pay stubs together and submit it to them. While you are doing this someone else put in an offer and STOLE YOUR DREAM HOME!

  

• Another reason would be to potentially save a little face. You tell the agent that you will have no problem getting approved, but you find out after you identity was stolen and you can't get approved right away or you didn't realize the impact of those pesky student loans. 

So the next time you hear those words, don't take it out on the agent. They are there to guide you in the "Just Sold" direction. For more tips, please find me at: www.facebook.com/soldbyjillb