PruCalVoices

Questions! Why so many questions?
November 21, 2008 ·  

You’ve decided to go out and jump into the home buying process.  Good for you!  You think, this will be fun…driving around neighborhoods, looking for homes, thinking about all the ways you’ll redecorate.  What you might not think about is all the questions you are going to be asked and all the personal information you’ll be expected to share.  I’ve had one client lament it would feel less vulnerable standing in a room full of strangers with their skivs on than laying out all the details of their life.  But like many things, that which isn’t pleasant may still be good for us.

 

The most squirm inducing meeting can be with the person you are trusting with the financing of your new home.  There was a time, not to long ago, when you could get a loan without even providing paperwork proving you had a job.  Those days are long gone and given the condition of today’s credit market, lenders are reviewing all applications with a fine tooth comb.  When looking at all your information the goal isn’t to judge but rather to tailor a loan that is most appropriate for you and your overall financial situation.  If you’ve had some credit issues in the past the lender isn’t going to point and scream “You’re not worthy!” but will help evaluate the timing of your purchase and if necessary, how can you do some credit repair in order to get the best loan.  They will help you understand financial aspects of the buying process you might not have thought about such as taxes, insurance, PMI, closing costs, etc.   They are asking pro-active questions to help you make sound decisions consistent with your goals and getting it all out up front will go a long way towards avoiding surprises at a time when it can cost you real money.

 

The same is true for your realtor.  While all the questions about lifestyles, short term and long term goals may make you feel like we are prying, it all goes toward helping you find the home that is best for you.  For example, questions such as “Are you planning on having kids?” may make you think of your Mother, but it helps the realtor think about the needs for schools or a good size back yard.   The realtor will also weigh in on the loan process.  Asking questions about your cash situation isn’t because we are hoping you will buy lunch but rather to steer you towards homes that fit within your budget.   This means not just purchase price but how much work will a home need after close and do you have the resources to make those repairs.  The more we know about you the better position we are in to advocate for you during the search, negotiations, close and ownership of your new home.

 

I can not stress enough that the point of so many questions is to put your interest first.  Some of the questions will be easy and others are as uncomfortable for us to ask as they are for your to answer but it is only in getting to know you better that we serve you best. 

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Comments

5 Responses to “Questions! Why so many questions?”

  1. KC on November 21st, 2008 6:46 pm

    Great writing, Julie and well stated. I ask more darn questions when I am showing people houses. Some people resist answering until I explain, like you do, the importance of learning about someone so you can better assist them. This business is very relationship oriented, moreso than people might think!

  2. Shokoofeh on November 23rd, 2008 12:53 am

    You are absolutely right, we should explain to our clients why we’re asking these questions and why we have to write down their answers. Like Michael says, we ask for their premission first, of course.

  3. Adam Chinn on November 23rd, 2008 1:40 am

    Thanks for sharing Julie. I agree with both of you. Although some people may hesitate to answer so many questions, many of them being very personal and about finances, but these are asked so that we can better help them. The more we know the better we can help meet your needs. Similar to a doctor treating or helping a patient who is sick or ill.

  4. admin on November 24th, 2008 6:42 pm

    Hi Julie. I just wanted to check in with and thank you for your great insight.

  5. Jean Joh on November 30th, 2008 5:28 pm

    Well said! When I first started in the business, one of the harder things for me was to ask questions of potential clients b/c I didn’t want to pry or intrude. But I quickly realized that I would be doing them (and myself) a disservice if I did not take the time to make sure I understood their situation, needs and expectations. Laying the groundwork properly at the beginning can save a lot of time and trouble for everyone involved.

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