Why you need to get Pre-Approved before you start looking for Homes.

Why you need to get Pre-Approved before you start looking for Homes.

Why you need to get Pre-Approved before you start looking for Homes.

We talk about this all the time. Every Realtor and Loan Officer you know posts this online: "Make sure you are Pre-Approved before you go look at homes!"

That statement is always countered with "Why?". Great question. Being Pre-Approved, or having Proof of Funds (bank statements, brokerage account statements, etc.) is critical in you being able to get the home that you want. There is no worse feeling than falling in love with a home, to then find out someone else claimed it because they had their documents ready to go.

Real estate has become a game based on time and deadlines. In this day and age time really is of the essence. There is a balance to this. We are not going to force someone into doing something they are not comfortable doing, however when it comes time to pull the trigger on a decision to move forward on a home, you want to make sure you have your Pre-Approval letter or Proof of Funds ready to go. That way, a seller will take you seriously when you present an offer.

No alt text provided for this image

When I represent a seller and we have an offer submitted and see no Pre- Approval letter or Proof of Funds, we will be hesitant to accept that offer, no matter what the terms are. It is our job to make sure we have qualified buyers purchasing our client's homes. It is also our job to make sure our buyers are the most prepared they can possibly be when they go through the process of purchasing a home.

That is why we stress that getting Pre-Approved or having Proof of Funds is extremely important. We want you to get the house that you deserve, and making sure you are ready to go and that you know your purchasing power is the best place to start.

Published by

Gary Martin
Status is online
Helping Home Sellers and Purchasers navigate the Richmond, VA Real Estate Market

Work With Us

Etiam non quam lacus suspendisse faucibus interdum. Orci ac auctor augue mauris augue neque. Bibendum at varius vel pharetra. Viverra orci sagittis eu volutpat. Platea dictumst vestibulum rhoncus est pellentesque elit ullamcorper.

Follow Me on Instagram