real estate

7 questions home sellers should ask agents

What do you know about home loans?
What do you know about home loans? © Edyta Pawlowska/Shutterstock.com

It's valuable to find an agent who has a solid grasp of home financing because loan issues can make or break a deal, according to Grace Keister, a blogger for First Team Real Estate in Irvine, Calif.

"For a home sale to go smoothly, you need a buyer with a reputable and reliable lender to secure their home loan," says Keister. "If you find a buyer who is affiliated with a distrustful lender, you could end up dealing with delays or the whole deal could fall through. (Or) your buyer might make an offer based on a projected interest rate from a lender and when the final paperwork comes out, the lender has raised the rate or changed their policy."

In a perfect world, buyers should have their finances in order when they make an offer. But realistically, a good seller's agent can salvage a deal if they're financially fluent and well-connected with quality lenders. That's why you should always ask a potential agent what they know about home loans before you hire them, Keister says.

It can't hurt to get a preapproval from a mortgage lender.

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