When you’re buying a home for sale in Lake City, your Realtor® will probably advise you to get preapproval from your lender before you even start house-hunting.
But do you really need preapproval?
Do You Really Need Preapproval? Here’s What You Need to Know
A mortgage preapproval letter is a letter from your lender that says if your financial situation doesn’t change, you’ll most likely qualify for a loan through that lender.
And even though it’s not a guarantee, it’s one of the best ways to get a seller to take your offer seriously.
“But wait – I haven’t made any offers yet!” you’re saying.
But when you find a home you like, it’s in your best interest to make an offer on it as quickly as possible. That’s because if you like it, there’s a good chance that someone else does, too – and the other party isn’t sitting on their laurels. They’re making an offer.
A preapproval letter isn’t a make-or-break deal. However, if you and another person put in an offer on a home and you don’t have a preapproval letter yet, but the other person does, the seller will take the other person more seriously than he or she will take you.
Most real estate agents prefer to show homes to people who have preapproval letters, too. That’s because a preapproval letter will show that the buyer is really capable of making a home purchase.
Bonus on having a preapproval letter: When you have a preapproval letter, you’ll know exactly how much house you can afford. That way, you won’t waste time looking at homes that aren’t right for your budget.
Are You Selling or Buying a Home for Sale in Lake City?
If you’re selling a home in Lake City, we’re the local experts. We know how to market your home aggressively and bring in qualified buyers, and we’d love to help you sell quickly and at the right price.
If you’re moving to Lake City, we can help you find the perfect place to live. Call us at 386-243-0124 to tell us what you want from your home and we will begin searching right away.
In the meantime, check out the most popular Lake City home searches by exploring the links below.
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