When You Start Your Home Search, Make Sure You’re Armed

When You Start Your Home Search, Make Sure You’re Armed

Back in 1988 when I bought my first home, I was really out just killing time on a Sunday.  Sure I had a little money in the bank, but I didn’t have a pre-approval letter nor had I even talked with a lender.

The real estate agent only knew my name and I’m not even sure I was all that specific about what I was looking for.  At any rate, on the first day out, I found a house made an offer on it but didn’t get it.  As it turned out, I was glad that I didnt’ get it.

The next outing (still no pre-qual, no pre-approval nor proof of funds in hand), me and my agent went looking again.  Offer made and accepted.

I was pretty decisive.  But in today’s market there are far more homes to choose from.  In addition, today’s buyers would be hard pressed to find an agent to work with without at least a pre-qualification letter in hand.

I had it pretty easy, but today, with so many people with borderline credit and changing rules and regs (almost by the minute), it’s best to be armed with that pre-approval letter AND know what it is that you are looking for.  Chances are when you find it, you’ll want to be ready, willing and able to make an offer that the seller will accept and you wouldn’t want a little thing like the lack of a pre-approval letter to get in the way.  There is just absolutely no excuse for not getting pre-approval first. Now is there?

Unless of course if you have no intention of buying a house.

Loan pre-approval

Prepare yourself well so that nothing stands in the way of your getting the home that you’ve set your sights on.  Nothing says “I’m ready” like a pre-approval letter.

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