Solano County Real Estatate, Position Yourself Get Pre-Approved!!!!

In today's volatile market it is an absolute must that one should get pre-approved for a home loan! Many people don't realize the possible burden, stress, & heartache they could force onto their family and to themselves, by not getting a simple pre-approval before looking at homes.

Lets say before you get a pre-approval you decide to look at homes with your family and you happen to find…..the home of your DREAMS, and only to find out later that you do not qualify to purchase your families dream home. By getting a pre-approved you can avoid this emotional situation because the pre-approval will show you how much of a home you can actually afford, which will steer you away from properties that maybe only at THIS time you cannot afford.

With a pre-approval you are better positioning yourself and you are strengthening you offer with more leverage than someone without one. This will give you more room to negotiate. Even though the competing offer may be higher many sellers are not willing to take the RISK of having to take their home off the market for 30 days or more to find out that the person with the higher offer cannot qualify to purchase their home. Because you choose to be the smart buyer, and decided to get pre-approved the seller may take your offer more seriously and may select your offer, even though it is lower because of the lower risked involved for the seller.

Lastly a home will probably be one of the biggest investments your family will make, and you will want the transaction to run smoothly and quickly as possible. Often times because the buyer is pre-approved buyer are able to close their escrow more rapidly. Remember when purchasing a home, everyday that goes by could seem like forever. Get pre-approved to speed up the process!

Here are some additional tips I would like to share

1. Do not close any of your credit accounts

2. Do not charge your credit cards (purchasing stuff for the new home)

3. Do not pay off any old collections

ALL of these actions could possibly lower your credit score, and you could possibly end up not qualifying to purchase the home after the lender runs their final credit check!

So always position yourself, and get pre-approved!!!!!

If you are looking to purchase or sell SOLANO COUNTY REAL ESTATE, give me a call, your SOLANO COUNTY REAL ESTATE EXPERT, Ryan Vivo (SOLANO COUNTY REAL ESTATE AGENT).

Get Pre-approved!!!!