Preparing for a House Viewing: What to Bring, What to Ask

When you’re getting ready to become a homeowner, attending house showings and open houses is one of the most exciting steps in the process! To make the most of these viewings and ensure you make an informed decision, it’s essential to be well-prepared. One of the most important documents you should bring is a pre-approval letter. This article will explore why a pre-approval letter is crucial and provide a comprehensive list of other items to bring to a house viewing, ensuring you cover all your bases and feel confident walking into your house viewing!

The Importance of a Pre-Approval Letter

What is a Pre-Approval Letter?

A pre-approval letter is a document from a lender that indicates you have been pre-approved for a mortgage up to a specified amount. This letter is based on your individual financial situation, taking into consideration your credit score, your income, and your debt-to-income ratio. This letter essentially proves that the lender has conducted an initial review of your financial health and strengths and weaknesses and is willing to offer you a mortgage, subject to a more detailed assessment.

Why a Pre-Approval Letter Matters

1. Demonstrates Serious Intent: Bringing a pre-approval letter to a house viewing shows the seller that you are a serious, intent buyer. It signals that you have the financial means to make an offer and are committed to the purchase process. This can be particularly beneficial in competitive markets or periods when sellers receive multiple offers.
2. Strengthens Your Offer: Sellers are more likely to consider your offer seriously if you come with a pre-approval letter.
3. Speeds Up the Buying Process: With a pre-approval letter in hand, you’ve already completed a significant portion of the mortgage application process. This means you can move fast once you do find the right property.
4. Helps You Stay Within Budget: A pre-approval letter provides a clear understanding of your budget, helping you avoid looking at homes that are outside of your budget or means.

How to Obtain a Pre-Approval Letter

To get a pre-approval letter, you’ll need to:

1. Gather Financial Documents: Prepare your documents, including pay stubs, tax returns, bank statements, and information about any debts or assets.
2. Submit an Application: Complete a mortgage application with a lender. They will review your financial information and assess your creditworthiness. Need a lender for a pre-approval letter? Foyer can match you with one of our pre-vetted lender partners around the country! 

Essential Items to Bring to a House Viewing

While a pre-approval letter is crucial, there are several other items that can help you maximize your time and diligence during a house viewing. Here’s a comprehensive list:

1. Notebook and Pen

You'll want to jot down observations, questions, and key details about the property.

2. Phone

Don't forget to document your visit! Taking photos or videos of the property, provided that the seller allows it, will help you make a more informed decision after the visit is over. These visual aids will help you remember specific features and details of each home, especially if you are viewing multiple properties in a short period.

3. Measuring Tape

Take measurements to ensure the spaces fit your needs and furniture.

4. Checklist of Needs and Wants

Having a checklist of your needs and wants can help you stay focused during the viewing. Call out features that are essential for you, such as the number of bedrooms, bathrooms, or specific amenities.

5. Questions for the Agent

Prepare a list of questions for the real estate agent or seller before the viewing. These questions might include:

• What is the history of the property?
• Are there any recent renovations or repairs?
• What are the property taxes and utility costs?
• How long has the property been on the market?
• Are there any known issues or concerns with the home?

Having a list of questions ensures you cover all critical aspects of the property and avoid overlooking important details.

Tips for a Successful House Viewing

To make the most of your house viewing experience, consider these additional tips:

1. Arrive Early: Take your time to explore the property and neighborhood before the viewing starts. This gives you a chance to observe the exterior and surroundings without the pressure of your scheduled appointment.
2. Take Your Time: Don’t rush through the viewing. Be sure to thoroughly inspect each room and assess the property’s condition. Make sure you have ample time to address all your questions and concerns.
3. Observe the Neighborhood: Pay attention to the neighborhood and surrounding area. Consider factors such as proximity to schools, amenities, public transportation, and overall safety.
4. Trust Your Instincts: While it’s important to evaluate the property based on your checklist and questions, also trust your instincts. If something doesn’t feel right or you have concerns about the property, it’s okay to explore other options.
5. Seek Professional Advice: If you’re unsure about any aspect of the property, consider consulting a real estate agent or a home inspector. Their expertise can provide valuable insights and help you make a more informed decision.

Conclusion

By following these guidelines and tips, you’ll be well-equipped to navigate house viewings effectively and increase your chances of finding the perfect home.

If you're saving for or shopping for your first home, be sure to join Foyer to maximize your buying power and confidence! 

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