Why It’s Important To Be Pre-Approved

Position yourself for a power move! Let’s talk about the importance of being pre-approved when planning to purchase a home. The first thing to think about is choosing a Lender. Using Lenders in the Siouxland area will help strengthen your odds of an accepted offer. Most sellers, and their agents, will be able to vouch for loan officers that they know and trust. We have lots of Buyers that want to shop for homes and then try to figure out financing. There are several pitfalls to that approach. In this market the homes are moving quickly if priced correctly. It can take anywhere from a couple hours to a couple days and sometimes longer to get pre-approved. The banks are often unavailable on evenings and weekends when we are trying to make buying decisions. We need the pre-approval information to be able to fill out a purchase agreement accurately. For example, the first section of the purchase agreement asks what type of loan you will be using, what the down payment amount will be, what the loan term and interest rates are. Sure, we can submit an offer without this information, however, it is unlikely that a reasonable seller would accept it with that information being incomplete. It can create long and unnecessary delays that may result in a competing buyer stepping in and purchasing the property. The pre-approval process is free. Once approved your position should be stable if there are no major changes to your circumstances. Another major consideration is setting you up in our custom search program. To do that effectively we need to know your maximum approval amount and loan type, without it we could spend lots of time looking at properties that you may not qualify for. Most of the Buyers that are successfully winning accepted offers are working with a Realtor and have been fully Pre-Approved. We are very good at helping our clients through this process and we have also been successful in helping them find grant money. We have found several approvals with $2500 and $7500 grants. I’m Barb Parker with the Bircher and Associates Team and REMAX Prime. Our team would love to help you achieve your goals in real-estate. Give us a call at 712-746-0849. And, remember, real-estate is all we do, and we do it well.