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Why Get Pre-Approved?

Why Get Pre-Approved?

Because therre are 3 people who will benefit from your pre-approval:  You, your Realtor, and the Seller from whom you eventually buy a home!

You: The mortgage pre-approval step is a relatively simple one, but it is an important one.  It begins the process of formally applying for a mortgage, and it gives everyone involved--especially you--a clear sense of teh direction they should be headed.

Your Realtor: By knowing what your financial parameters are, your Realtor can spend more time looking for houses that "fit" and less time pursuing dead ends.  No matter how much you might want a 4000 square foot home for $275,000, if your qualifications say $125,000, your qualifications say $125,000.

The Seller: Want to strengthen your bargaining position?  Get pre-approved!  Want your offer to stand out in a case of multiple offers for the same house?  Get pre-approved!  Look at it from the seller's perspective.  If you had 2 offers on the table for your house, one from a fully pre-approved buyer and the other from an "I'll get around to that soon" buyer--to which offer would you devote the most attention?  Even if the pre-approved buyer's offer was $1,000 less, would you take the chance on the buyer that perhaps may not be qualified?  When it comes to a seller evaluating offers, "a bird in the hand..." definitely applies.

 

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Contact Information

Photo of Jenny & Randy Thomas Real Estate
Jenny & Randy Thomas
Keller Williams Realty; Team Thomas, REALTORS
2925 E Battlefield, Suite 111
Springfield MO 65804
Phone: 417-501-9988
417-883-4900
Fax: 417-447-9853

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Team Randy & Jenny Thomas (Murney Associates, Realtors): Real Estate Agent in Springfield, MO