Everyone out there probably dreams of owning their own home one day. Not everyone has the cash to buy any house on the market. How disappointing it is to search for a home, fall in love with one only to go to the bank and be told that you don't qualify for the amount needed to purchase the house.
Here's your first step when looking for property or a house. Make an appointment with your loan officer and tell them you'd like to be pre-approved before you start looking for real estate. Your loan officer will be able to tell you the amount that you are approved for. This way you know what your comfort zone is when looking for a house or vacant property.
The other advantage is simply that's one major step of the financing process completed! Once finding a house in the qualifying price range, your bank will then need an appraisal on the specific property to finalize their approval.
I've seen buyers pretty disappointed when someone beats them to the punch after they have finally found a property they want. Why did this happen? Because they were still waiting on the loan process. Having completed that first step of the financing approval really does have it's advantages and will speed things up for you.
Another advantage is 'buying power'. A seller will take you more seriously when you're submitting an offer if they know that you have met with your loan officer previously and are qualified. This proves you are a serious buyer.
If you're ready to begin looking for your piece of Abaco real estate call me today and I'll get right to work for you.
Your Abaco Real Estate agent
~Mailin Sands
www.realestateinabaco.com
