The Benefits of Prequalifying for a Home Mortgage in Knoxville, by Troy Stavros, Real Estate Expert in Knoxville

By
Real Estate Agent with Gables & Gates, REALTORS

Getting a prequalified loan is a measurement of your commitment and dedication to making an actual purchase of a property in Knoxville. This also gives benefits to all three players in the purchase of a home: the buyer, the seller and the real estate agent. Here are a few benefits of getting preapproved for a mortgage before you actually take the time to look for a Knoxville home.

Benefits to the seller

It is a common situation for a seller to see a potential buyer back out at the last minute. This can be frustrating and discouraging to say the least. This happens a lot less often with a buyer that has taken the time to prequalify a loan. If there are two offers on the table for a home in Knoxville, the buyer will quite often choose the offer that comes from a prequalified buyer. It is viewed as being more credible.

The Benefits to the Agent

Any real estate agent in Knoxville can tell you that it can take a lot of time and energy to help his clients find the perfect home. Sometimes the Knoxville agent is left hanging if his clients change their minds or the bank does not approve their loan. This can result in hours of lost revenue for the agent. Getting a prequalified mortgage shows the Knoxville agent you are working with that you are serious about finding a property. You took the time to get preapproved and that is an indication of your commitment level.

Your own benefits

You will find that your Knoxville real estate agent is much more dedicated to giving you the energy necessary to help you find a great home. Also, the seller will take you much more seriously when you place an offer, because he can assume that you won’t back out, because you took the time to get prequalified at your Knoxville lending institution.

There is a lot of free information available to you about buying, selling or investing in Knoxville real estate. For complete information about the Knoxville real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Knoxville real estate at www.GablesandGates.com. So please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 865-599-9444 or email me at TalkwithTroy@aol.com.

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