Here's why serious buyers need a pre-approval letter.....
As Connie talked about in a previous post, we are still seeing multiple offer situations even in this tougher market. This house had 4 pretty solid offers and is still having offers come in. Who won? The offer that was able to show the buyers were qualified for the loan! Only 1 offer had any kind of evidence of financial ability. This buyer demonstrated to the seller that they were (A) serious because they took the time to get pre-qualified and (B) they had the financial capability to do what they were saying. What does this mean to you, the home buyer? Get pre-approved before shopping for a home! I know of at least 3 buyers who are probably wishing they had! Get more info
here!