The first step in the home buying process is to arrange the
financing. Before any offer to purchase property is made, one should be
able to show a proof of cash letter or a loan prequalification letter.
Providing this documentaton along with the purchase offer to the Property Owner
strengthens the offer; the same amount of money is a stronger offer. Using
a respected local Lender also strengthens the offer because local real estate
proffessionals and property owners are less fearful of financing snags or
failures. Local people are also better at handling the difficulties
associated with the new Home Value Code of
Conduct appraisal system which has led to a dramatic increase of the use of
appraisal management companies and Realtors® reports of delayed and lost sales
related to HVCC implementation because of poor appraisals often conducted by
inexperienced appraisers who were not familiar with the area.