Reprinted by permission of Inman News

Do you want your offer to purchase taken seriously?  One sure way is to bring money!  Not bags like our buyers above but a letter to attach to your offer from a lender.

Going to a lender before your home search begins helps you in many ways.  If you do not have a relationship with a lender most Realtors know reputable lenders who will help you through the loan process.  Going to the lender first gives you:

1. Up to date credit information, letting you know your credit rating.
2. Establishes your purchase range or maximum price range you will be able to purchase.
3. Allows you to review your budget to evaluate if you want to use all of your purchase power or only a portion of your credit limit.
4. It gives a better guideline to your Realtor so they do not waste your time looking at homes that you can not afford.
5. Once you have found a home the seller will take your offer seriously.
6. Sellers put more consideration on offers where the buyer has already established lender approval.
7. Attach a copy of the lender letter stating your are approved to your offer.
8. The approval letter does not contain any confidential information about you or your finances.
9. Lender approval letters simply state that at that point in time you were approved to purchase a home.
10. Your Realtor will communicate with the seller's agent your strength to purchase.
11. Your earnest deposit also speaks volumes to your seriousness to the sellers.

So the key to being taken seriously is a pre-approval letter from your lender and your earnest deposit with proper communication from your Real Estate agent and your offer to purchase has a good chance of being accepted.

Most experienced agents will give you very good advice concerning your pre-approval lender process and the offer to purchase methods using the earnest deposit.