Written by Pam Rickenbaugh, Sales Associate, ABR
Before beginning the home buying process, it is most important to begin the pre-approval process with a lender to verify your financial information. Here are some reasons why:
1. Your offer will be taken more seriously by the seller.
2. You will not waste time looking at properties that you cannot afford.
3. In negotiating your offer, you will have an edge over other buyers in a multiple offer situation.
4. Your "type" of financing is also part of your offer. You will then know what "types" of financing you qualify for and will want to write and negotiate your offer accordingly.
Prequalification is the perfect beginning to the home buying process after contacting a buyers agent.