Here’s why you need to be pre-approved as a buyer in any market.
Is it important to have a pre-approval in the current market? The answer is that it’s always crucial to have a pre-approval! Here are the two main reasons why:
1. Identify your price range. A pre-approval will help you figure out the price range you can afford.
2. Prove you’re a qualified buyer. A pre-approval will confirm to real estate agents that you’re a qualified buyer, meaning you’re ready to go look for a home, then afterward that your offer should be taken seriously by the seller’s agent.
In any market, but especially now, many agents aren’t just ensuring that you’re pre-approved, they’re also checking out your financing company. They want to make sure that your company has great communication and that no unforeseen issues will arise during the loan process. So ensure you not only have a pre-approval but also that you’re getting it from a quality company that will help with any questions or concerns you have along the way. A second-rate lender means a second-rate experience.
If you have any questions about pre-approvals or want to get one, call or email us. We would love to help you.