So our realtor asked if she can show a home to someone who wants to see our home but doesn’t have a pre approval yet . We asked why , she said they stated something about not wanting to take a credit hit . We said no , since we have had about 20 showings since we’ve been on the market for 3 months , and only want serious inquiries. However they called back and stated they don’t care if it’s all the way show ready they just want to see it . We do need a buyer , as we are under a contingency contract on another home . What would you Do? Does no pre approval yet mean they aren’t serious ?
A showing with no pre approval?
byu/Useful-Raise inRealEstate
Posted by Useful-Raise
20 Comments
Let them show the house.
How would your realtor even know if they are pre-approved before the showing? Are they unrepresented?
Yes I would show it.
My husband somehow refused to get pre approval, but with our high 800 plus credit scores, we got it immediately when we found the house we wanted to offer on. Unless offers are pouring in, I would let them in.
Nope. Stand your ground
If their credit is that bad, don’t allow it.
In this market beggars can’t be choosers. Most markets are not markets where sellers have the leverage. Show the place if you want a chance to sell it. You never know who is actually going to be the person to give you an offer.
If you told me I couldn’t see your place for sale without me showing you my pre-approval, I’d tell you to pound sand. There’s a lot more places for sale. But there aren’t a lot more buyers.
It comes down to you need the buyer a lot more than the buyer needs you. You are borderline desperate given than you are already contingent on another property. You really want to turn this down?
Your home has been on the market for 3 months only 20 showings and your turning away potential buyers in
A super slow market with lots of inventory
Do I need to tell you how stupid that is?
I didn’t have a preapproval. I looked at a house, liked it, got preapproved, & now we are buying the house we liked. I don’t see the issue here.
I’ve never heard of asking for pre-approval for a showing. I’ve looked at dozens of homes before having one. In my current situation, I had to start looking on a really tight timeline, and my real estate agent was out of town for a family emergency for 2 weeks, and my mortgage guy was unavailable for the same time while he divested from a corporation and set up his own company. My credit is > 800, I have a solid income history, so everything fell into place and I was able to make an offer on a home within a week of them being back for business.
I’ve bought three homes, and in every case my pre-approval involved a soft pull. Soft pulls have no impact on your credit score.
Wow, my wife and I looked at lots of houses with our realtor without pre approval. Even made offers on two and bought one without ever getting a pre approval letter.
It does hit your credit to get a pre approval.
It is the norm to have a “pre-approval” when home shopping outside of an open house, except for the internet tough guys crowing “well, I am Super Credit Score, and the world can cower under my demands.” (Internet tough guys reaching their grease coated fat stubby fingers for the down vote arrow) It’s a common courtesy at this point which requires minimal effort or invasiveness for everyone involved. Courtesy serves an important purpose for us to all get along which some people who communicate anonymously seem to forget about real life. They are not the main character.
Whether you show the home or not is up to you to people who lack courtesy. Ultimately, home sales are difficult transactions, and I would see it as a sign of dealing with a potential cloaca.
I actually thought it’s the selling agent’s shenanigans asking for pre approval. If you are on market, it’s not a big deal to show house.
I dint want to take a credit hit and was looking for lender who issues pre-approval without hard check.
Besides, I never bothered visiting a house that specifically asked for pre approval. It felt a weird start.
I don’t think requiring a pre approval is necessary unless you are selling a multi million dollar house
If you want lookie loos why not just have an open house for every bum in the county to traipse through. This is on the profession of Realtors. If you are so desperate for a commission that you will inconvenience your seller by dragging anyone that calls you through houses then you deserve the ire of sellers. Have some respect for yourself and the people you are assisting.
I don’t feel like this requires a reddit post. You’re under contract and need the house sold, and it hasn’t for 3 months, and you have someone interested enough to ask more than once.
How can you find a serious buyer if you’re not willing to act like a serious seller? Show the house.
Also if it hasn’t sold in 3 months and 20 showings, your price is too high or something else is wrong with the home or listing.
If you are interested in buying a nice house in western Washington state, you have a pre approval letter or proof of funds ready to show whoever asks when you want a showing. Unfortunately, despite all the big talkers in this thread, you are dealing with a tire kicker who will waste your time.
You may be right that it means they’re not “serious buyers,” but that doesn’t mean they won’t become serious after looking at your house. I’ve been looking at real estate for over 10 years. I may never be a “serious buyer”, but that doesn’t mean I won’t buy a house one day. It just means I’m not interested in buying unless I find something I want more than where I currently rent.
You’ll also lose out on the serious buyers who are pre-approved for a little less than you currently have your place listed for, but for an amount you might be willing to accept.
If you’re in no rush to sell, then yeah, it might not be worth your effort to show the house to someone without a pre-approval. But, you’re currently under contract on another house. I don’t think that describes you.
Show your home to everyone who is a qualified buyer. If it is less than 1 million; step back and show it to everyone. The process will sort out unqualified buyers.