1. PREAPPROVAL |
In todays SELLER'S MARKET we find that MULTIPLE BIDS on property occur quite often. In order to position yourself BEST to get the shore house or condo of your choice you need to take certain important steps.
PRICE is only ONE bargaining chip in negotiations. Often, other terms, such as the strength of the buyer, are critical to the Seller. Some homebuyers have been getting PREQUALIFIED by a lender. This means spending a few minutes on the phone with a lender, who will ask a few questions. Based upon the answers, the lender can issue a certificate that you can show a Seller or Realtor, pronouncing you as PreQualified. The BETTER situation is to be PREAPPROVED !!! This happens after all of the information you provided has been verified. The only loose end is the appraisal on the property. NOW it's like having CASH to take to the Seller ! In a case in which the Sellers have several offers from which to choose ( and it happens VERY often ), they will STRONGLY consider the offer from the Buyer who's PREAPPROVED ! |