Tag Lending Group Blog: Expert Mortgage Solutions & Insights

Benefits of Pre-Listing Your Condo or Single-Family Residence

Written by Fe Liddawa | May 31, 2024 2:56:08 PM

When you list your condo or single-family residence (SFR) with pre-approval, you not only enhance the marketability of your property but also offer substantial benefits to potential buyers. Here are some key advantages:

Borrower Savings:
  • HOA Paid Association Fee by Investor: Enjoy significant savings ranging from $200 to $600 when investors cover the HOA fees.
  • Free Appraisal: Take advantage of a free appraisal when you work with Tag Lending Group, easing your financial burden.
  • 1% Give Back: Receive 1% of the loan amount as a lender credit towards your closing costs, further reducing your expenses.
  • Combine Savings: Combine our 1% program with our new 0% down program, providing up to $15,000 in savings.
Pre-Underwriting Streamlined Process:
  • Faster Approvals: Our in-house underwriting team ensures a quicker and smoother approval process, getting your property market-ready in no time.
  • Critical Repairs Check: Verify that no special assessments are categorized as critical repairs, avoiding surprises for buyers.
  • Maintenance Confirmation: Ensure there is no ongoing deferred maintenance, presenting a well-maintained property.
  • Occupancy and Liquidity Requirements: Confirm the condo meets the 51% occupancy and 10% liquidity requirements, essential for loan approval.
  • Litigation-Free: Verify that the condo is not involved in any litigation, providing peace of mind to potential buyers.
  • Certification Check: Ensure the HOA has its 40-50 year certifications, if applicable, ensuring long-term structural integrity.

Control the Deal: By understanding all condo details upfront, you gain an advantage in controlling the deal, making the transaction smoother and more attractive to buyers.

How It Works

1. Engage Early

    • Start the process by engaging with our team as early as possible. Early engagement sets the stage for a seamless approval process.

2. Request an AVM

    • Request an Automated Valuation Model (AVM) to get an accurate estimate of your property’s value.

3. Request an Open House Flyer

    • Obtain an open house flyer to market your pre-approved property effectively to potential buyers.

4. Pre-Underwriting

    • Get your property or condo approved with our in-house underwriters, ensuring all aspects meet the necessary requirements.

5. Enhance Marketability

    • Present potential buyers with an attractive, pre-approved property ready for purchase. This not only speeds up the buying process but also generates buyer leads, increasing your chances of a successful sale.

Make Your Property Stand Out with Pre-Approval

Listing your condo or SFR with pre-approval from Tag Lending Group not only saves money but also provides a strategic advantage in a competitive market. Engage with us early, streamline the approval process, and present a market-ready, attractive property to potential buyers. Contact us today to get started and enjoy the myriad benefits of pre-listing approval!