The Importance of Being Pre-Approved Before you Start to Look at Homes
Wow, what an amazing time to buy! Inventory is high and interest rates are at an all time historic, low (the best in over 37 years!), and mortgage companies are ready, able, and willing to make new loans. So what are you waiting for? There is no better time than the present.
Sure you could wait…but think long and hard about what are you waiting for and what you could be risking. Perhaps interest rates will go up again click on my mortgage calculator and see just how much difference just a 1/2 % interest rate can make.
OK, so you are ready to look, so now what? Go out and start looking at homes? As a softball player, I know that you can not go home without first passing 1st, 2nd, and then 3rd base. The same rules apply for purchasing a home.
First base- the 1st step in the home buying process should be contacting a qualified mortgage professional and get pre-approved. This process will let you know what price range you can afford, preventing you from wasting valuable times looking at the wrong type of home. Being a pre-approved Buyer also will allow you to be taken seriously by Sellers. In this market, many Sellers will not be willing to negotiate with non approved Buyers and will see you as a time waster. Some Seller will not even allow you to view their property if you don’t have a pre-approval in hand. In the case of bank foreclosures, they will not even acknowledge you, let alone take you seriously without proof of financing. If you need recommendation for mortgage professional then contact me at Christine@HomesForSaleKnoxville.com.
Second Base- Connect with a licensed Realtor® and let them know what you are looking for. When choosing a REALOR®, make sure you pick one that knows has the technological skills to find you the best properties for you. For example, I hold the e-Pro® designation that certifies me as a real estate internet professional which enable me to use the power of technology to best serve my clients.
Third Base- Once you have looked on line and have a good idea what your money can buy and have decided what areas you want to live/purchase a home in. Contact your REALTOR® to set up home showings for you. Keep in mind that even in this period of “hard economic times” the good homes still go quickly so jumping to 3rd base with out first covering 1st and 2nd base could not only waste you time but make you lose out on the home that is best suited for you.
Home- Go to www.HomesForSaleKnoxville.com to start looking now for your new home now!
For additional information about home buying contact Christine today, I am only a phone call, text message, or e-mail away. Please check out my Real Estate Educational website at www.KnoxvilleHomeExpert.com. I am ready to start working for you and lead you home!