Why you need a Pre-approval if you want to buy!
In Westchester a Pre-approval is always Necessary
As a professional realtor, I am often asked questions by prospective buyers at open houses. One question that came up recently was "Why do I need a pre-approval to put in an offer on a property?" It's a great question and one that I'm happy to answer.
First and foremost, getting all of your paperwork together for a mortgage can take time. Once you've gathered everything you need, it can also take time for the lender to verify your finances. By obtaining a pre-approval, you can streamline the process and ensure that everything is in order before you even start looking at homes.
The second reason to obtain a pre-approval is that it tells the seller that you are serious about finding a place and your offer is serious. When a seller receives an offer from a buyer with a pre-approval in hand, they know that the buyer has taken the time to get their finances in order and is serious about moving forward with the purchase.
Finally, the third reason to get a pre-approval is that if you don't, you will likely lose your chance to purchase your dream home. In today's competitive market, homes can receive multiple offers within hours of being listed. If you don't have a pre-approval, you'll be at a disadvantage compared to other buyers who do.
Obtaining a pre-approval is a crucial step in the home-buying process. It can save you time, increase your chances of having your offer accepted, and ensure that you're only looking at homes that are within your budget. If you have any questions about real estate or the home-buying process, please don't hesitate to contact me. I'm always happy to help!
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