As a Real Estate Broker, I always ask a potential buyer if they have been pre-qualified and pre-approved for a loan. This simply means as a buyer, you should apply for a loan and and obtain an approval for a loan before you find the home you want to buy. Why, you ask. Well, let me count a few of the ways...
1. Generally, interest rates are locked in for a set period of time. You will know in advance exactly what your payments will be on offers you choose to make. 2. You can select the best loan
package without being under pressure.
3) You will only be shown homes
priced within the range for which you have been pre-approved.
4) A seller may choose to make
concessions if they know that your financing is secured. You are like a cash buyer, and this may make
your offer more competitive.
I hope you have found the above helpful. In future months and blogs I hope to clarify the home buying process for you. If you have any questions or suggestions for upcoming blogs, please feel free to contact me.
Author:Brian Hargrove Phone: 919-830-5233 Dated: April 25th 2014 Views: 695 About Brian: ...
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" My name is Dee. Laura helped us find our new home in one of our favorite neighborhoods. She REALLY went over and beyond for us with negotiations. She was able to have all of our demands met plus more. She made us comfortable with the whole home-buying process. She answered any questions no matter how many times we asked them (sometimes the same question). She would explain everything to us in a way that we could understand. Just out generosity she found us discounts on services that we could use like the inspection. Even once we closed on our house she still would check in on us to see if we needed anything."