Making an offer on a home is a delicate balance. By being prepared, knowing what to expect and working closely with your real estate agent, you can be confident in putting together a strong offer.
You have your heart set on buying the home, but you need to also be realistic with your budget — without putting in an offer too low for the seller to take seriously. Here are four pieces of advice to keep in mind as you get ready to make an offer.
Know Your Limit and Show You’re Serious with a Pre-Approval Letter
If are in the market to buy a home, one key piece of information you should know is how much you can spend. Knowing your loan limit can help you set your budget.
Going through a pre-approval process with a lender will tell you the maximum amount you are qualified to borrow, which comes in the form of a pre-approval letter.
The pre-approval letter is not a loan guarantee, because the lender still needs details about the home and specifics about your loan. The letter also has an expiration date, so make sure you know how long the letter is good for.
To learn more about making an offer on a home and the home buying process, visit the SCOOP! Blog
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