MINT HILL, NC – Wow! Is it now amazing that it seems we are still in a sellers’ market. In comparison to the last few years, it may not feel like it, but from a statical standpoint, we still are! A seller’s market is typically when there are more individuals looking to buy, than seller’s looking to sell. A simple case of simply vs. demand. In these cases, we see more than one buyer want to “offer” to purchase a home. So, this leads to the question: How does a buyer set themselves apart from the rest?
The answer: Getting a pre-approval letter!
Getting a pre-approval letter before making an offer on a home is the number 1 step that sets you apart from another buyer. Pre-approval letters strengthen your offer giving the seller confidence that you will be able to secure the funding needed to purchase the home. It’s also important to be prepared before making your offer. Pre-approvals will give you the security of financing but knowing your budget and being sure of exactly what you want helps you to act fast and make quick decisions. Quick decision-making is crucial when buying in a sellers’ market but if you are prepared, quick decisions are much easier and less stressful or risky. When you know what you want, know your budget, set proper expectations and you have a pre-approval letter in hand, you will have the confidence and security needed to help you stand out as a buyer.
As always, if you have any questions on how to get pre-approved, please reach out to me (704) 430-6138 or Brandon.wolf@primisbank.com). Look forward to addressing some do’s and don’ts once your offer is accepted!
