Getting Pre-Approved Offers Advantages to Home Buyers

By
Real Estate Agent with Bennett Realty Solutions MD#634275

Getting Preapproved Offers Advantages to Home Buyers

  

Are you a serious home buyer? If so, then you want to read this post before contacting a Realtor to look at propertiesWhen you decide you are ready to begin a home search, the first step in the home buying process is to contact a lender and apply for a mortgage.  After receiving a pre-approval letter (or a commitment in writing) from a lender to finance the suitable property, you will be afforded several advantages. These advantages include:

            Home hunting made easyPre-approval lets the home buyer know exactly how much home he or she can afford. Finding a home is focused on a precise price range. This way, you will know in advance how much your mortgage payment is going to be. Unfortunately, many people waste time looking at properties that they could never get approved for. If you get pre-approved, you are not going to have to worry about this problem.   

Increase negotiating power.  You have increased negotiating leverage and represent a level of certainty with the seller. Being pre-approved is automatically going to give your offers a lot more weight when it comes to negotiating with sellers. Therefore, your chances of getting the house that you want are goingto improve.

           Accelerate the mortgage process.  Significant time is saved because a large part of the mortgage has already been processed. This process can be the longest contingency in the purchase contract. So, do your homework and get pre-approved!

If you are thinking about buying or selling a home and need an experienced REALTOR.  I’m committed to serving you with personal guidance and attention. So, call me today at (301) 502-2669 or email me at dwpettis@aol.com and see for yourself!

 

 

 Image courtesy of Vichaya Kiatying-Angsulee / FreeDigitalPhotos.net

 

 

Posted by

Diana White-Pettis, Associate Broker

Exit Bennett Realty

7701 Greenbelt Rd. #100

Greenbelt, MD  20770

Office: 301-459-5040

Cell: 301-502-2669

Direct line: 240-386-1309

Email: dwhitepettis@gmail.com

Website: www.diana4yourhomesdesire.com

 

Turning Your Homes Desire into a Dream Come True!

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Topic:
Home Buying
Location:
Maryland Prince George's County Upper Marlboro
Groups:
Active Rain Newbies
Tags:
home search
home buying process
getting preapproved
preapproval advantages

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Ambassador
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1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Diana,

It seems that I have to remind buyers over and over that they need to get pre-qualified to benefit their home search.  

Jun 29, 2014 10:29 AM #1
Rainmaker
142,596
Diana White-Pettis
Bennett Realty Solutions - Upper Marlboro, MD
GRI, CDPE, CNE, WHC Upper Marlboro Homes for Sale

Judi,

Thank God they have us to direct them in the right direction.  I often wonder if it's that buyers get excited and forget the process, don't know the process, or if they think we won't ask the question and just agree to show them properties without it.  I guess it can be all three of those scenarios.  Thanks for your comment.  Have a great evening!

Diana

Jun 29, 2014 10:47 AM #2
Rainmaker
1,503,593
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Even we remind buyers again and again how important to get preapproval before going for a house hunt, they think they should do it after they find the house(??).

Jun 30, 2014 01:43 PM #3
Rainmaker
142,596
Diana White-Pettis
Bennett Realty Solutions - Upper Marlboro, MD
GRI, CDPE, CNE, WHC Upper Marlboro Homes for Sale

Inna - talking about putting the cart before the horse.  Amazing.  Thanks for commenting on my post and have a great day!

Jul 01, 2014 12:43 AM #4
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Rainmaker
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Diana White-Pettis

GRI, CDPE, CNE, WHC Upper Marlboro Homes for Sale
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