Blog Stories Get Pre-Approved Because....

Get Pre-Approved Because….

By Living Room Realty, May 17, 2018

Right now (late Spring of 2018) I really have been enjoying working with buyers. Unlike the last few years, there is actually some inventory to look at, bidding wars are cooling off and you can find a great house at a fair price. In my initial phone meeting with Tiffany & Ryan I must have come off as adamant that they get pre-approved before we get too far into the home buying process. One of them asked me “why?”. I quickly came up with my top 3 bullet points:

  1. Knowing your specific borrowing power make the shopping process much more efficient.
  2. The application process can illuminate issues that we need to be out in front of. Things such as: credit score problems, student or car loan expenses that need to be dealt with, sourcing of down payment funds and employment roadblocks just to name a few.
  3. And you never know, you just might find that perfect house on the first day out. This one rarely happens though.

After they got pre-approved, I met Tiffany & Ryan to tour some homes on a Spring weekend. The first 5 homes we looked at were kind of okay, but disappointing if we were being honest. The last home was in a sweet neighborhood that they knew well (because they had friends who lived nearby). After a half hour in the house we were standing at the curb talking about an offer; a surprise for us all! It was the perfect starter home: move-in-ready, but still plenty of room for improvement and in an established neighborhood. Offer accepted, inspections in the books and sale closed!

The moral of the story is: always get pre-approved because you never know when you might find that gem and you don’t want to spend the rest of your home search chasing it!

Living Room Realty

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