Getting Pre-Approved is So Important for Today’s Buyers

April 22, 2022


The current housing market is one that is fiercely competitive. As most every potential buyer knows there is no time to waste and being able to have everything ready to go as soon as you find the perfect home for you is a MUST! One thing that having a pre-approval letter will do is set you apart from other potential buyers that could also be interested in the same home. 


A pre-approval letter from a lender is the only true way to know your precise price range and how much you can borrow from the lending company. This letter really has two benefits. One it gives you and your agent the exact budget for you to start looking at homes in. Two that letter lets the sellers and their agent know you are qualified to buy.


Because there are so few homes on the market for sale and they often move so quickly the market is super competitive. This letter can easily provide you with that extra “leg up” over the other potential buyers. According to the National Association of Realtors the average home sale is getting more than 4 offers. A lot of these are also seeing bidding wars happening. So when I say it’s a competitive market, it is no joke! 


When you have this letter it allows the buyers and their agent to have a sense of confidence because they know from the start you are already qualified for “X” amount from that lender. This just means that the process will be less stressful and oftentimes smoother for both sides.


Here is the bottom line really, in this market, you need every single advantage you can get to put you to the top of that competition. If you can get ahead of the competition then the whole process will be so much better. The real estate market is ever changing. Even now some mortgage rates are slowly rising and home prices are still on the higher end. Lending institutions are updating their standards and requirements to fit this wild market. So it is always a good idea and a safe bet to go ahead and get pre-approved before you even begin looking at homes. 


You will often need a professional to help you through this process and maybe you are not sure of what lending company to use. Thats where I come in! Contact me today and let me get started working for you! I can get you connected with great lenders that can get you that pre-approval letter. Then we can get out there and find the perfect home for you! Whether you are upgrading, downsizing or just wanting a home that better suits your needs, I can help you find it. I want to be YOUR realtor! 

 

Alicia Edwards - Realtor

I want to be your realtor! Let me help you find your next home or sell your current one. Call me and let me get started working for you today (678) 622-0302. I look forward to talking to you soon. Your Home, Your Future, My Commitment!

Looking to Buy or Sell, Contact Me!

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