The ability to purchase is important for all parties involved in a real estate transaction....buyers, real estate agents, and prospective sellers.
How are real estate agents paid? As a buyer your real estate agent is typically paid on a commission basis dependent on sales. This commission is typically paid by the seller. No closed transaction, no pay.
Sellers expect serious offers to have an accompanying indication of a buyer's ability to complete the transaction if accepted. For buyers obtaining a mortgage, a pre-approval letter is the critical supporting evidence.
Buying a home is an exciting process but knowing their financial limits allows buyers to shop with a realistic budget in mind. An understanding of the entire financial commitment is critical to the process.
Obtaining a mortgage pre-approval from your lender is a primary step in the home purchase process. It tells you how much you can buy (although the amount one is qualified for does not mean it is the amount a buyer must spend).
So why would I ask for a pre-approval letter? It is critical supporting evidence of a potential transaction.
Considering the purchase of a home in Viera, Suntree or Rockledge, Florida? Call me at 321-693-3850 to discuss the process.
Need a mortgage pre-approval letter? Call me for recommendations on several local mortgage loan professionals who may be able to assist you or call your bank or credit union!