The purchase of real estate is one of the most important transactions you will ever make. Of course that Financing is a crucial step in the buying process. One important thing to work on before you even start looking is your mortgage pre-approval. To be pre-approved means doing all the loan paperwork in advance. If you are pre-approved, than you have been fully screened by the lender and approved for a loan.When you are pre-approved you’ll have more negotiating power. Most sellers will go with candidates that are pre-approved, since there's less risk that the deal will fall through. If a seller has two proposals and yours is pre-approved - you will have better chances to get the deal.
When you are pre-approved, it also means that you know your price range. You won’t get distracted with offers that are beyond your price range, and you won’t waste time on offers that are too low.
Remember that there is a big difference between being pre-approved and being pre-qualified. Many buyers don’t realize that pre-qualification is only a rough estimate of how money you will be able to borrow, when that happy day comes.
If you have anymore questions about buying a house, go online to www.fivetownsrealtor.com. The experienced staff at Five Towns Miller Realty, Inc. has completed more transaction than any brokerage in the Five Towns area. So if you’re planning on buying or selling a property, give us a call and we’ll help you find that dream house of yours.
No comments:
Post a Comment