Get Pre-Approved Prior To Even Shopping for Charlotte NC Real Estate
The steps to purchasing your new home in Charlotte NC are imperative to follow for a stress-free transaction. The first, defining your goals, is something that you’ll do prior to contacting anyone to assist you. Once you’ve established your goals, contacting a Realtor® or a lender is next. If you don’t already have a trusted lender, most active Charlotte real estate agents can recommend a qualified lender, who you should consult before ever beginning your Charlotte home search.
When you consult with a lender, you will quickly know the amount of mortgage for which you’ll qualify. Be sure to get a mortgage commitment in writing from your lender. This important step not only lessens your stress of ’wondering’ whether or not you’ll qualify but, when you present your offer on your Charlotte NC dream home, you’ll be telling sellers that you are a serious prospect.
Depending upon market conditions, a seller may lean towards a less ‘conditional’ Offer. You’ll have less negotiating power if you have to wait for mortgage approval. Strengthen your Offer with a pre-approval! If you don’t have a mortgage pre-approval prior to placing an Offer on your Charlotte dream home, you stand to lose power and money in the negotiating process.
Banks and financial institutions have developed many specialty programs for home buyers, whether you’re a first-time buyer or a seasoned home buyer. When you review your needs and objectives with a lending officer, you’ll ease the process not only in less time and stress but, can save you thousands in your negotiations.
What type of Charlotte NC lender/banker is right for you? If you need help or would like a list of lenders, please contact us; we’re happy to help.
Debe – This is really so important for buyers today. I can’t tell you how many buyers I’ve talked to in the last few months who had the wrong idea about what they could afford. In some cases it was less, but I’ve had some who were surprised that they could afford a much nicer home than they thought because the rates have fallen to historical lows.
Larry, exactly and when they begin looking at their dream homes ABOVE their range, it then becomes tough to find a home that fits into their budget–nothing really suits them.
I love this Buyers Tips series, Debe. And this is one of the most important parts of the process. Getting pre-approved so that no one’s time is wasted including the buyers’.
Thanks, Jane! I think many buyers miss so many opportunities when they’re not pre-approved. Sellers will negotiate further down when they KNOW that they’re going to seal the deal if they remove their home from the marketplace.
Such SAVVY lending tips for Charlotte area home buyers Debe!
Thanks, Renee! There’s more than meets the buyers’ eyes when it comes to a home purchase–even beyond this series!
There is no doubt about it Debe that getting a pre-approval is vital for any buyer to do before they start looking at homes. I don’t let a buyer get in my car without one!