Buying a Home in Vero Beach? Start With Preapproval.

Dated: October 25 2019

Views: 760

If you’re like most new homebuyers, you may be wondering where to start. Buying a home is one of the most exciting things you can do, but at the same time, it can be frightening.

When you decide to purchase a home, there are a few things you should do before performing online searches and doing drive-bys through neighborhoods. One of the main items to cross off your checklist is to get a mortgage preapproval. Having a preapproval letter in hand, prior to falling in love with a home, can help you for several reasons. Here’s why.

In a competitive real estate market, sellers are looking to close on their homes quickly and without frustration. If there are multiple buyers interested in a home, those who come prepared often take precedence. In most cases, sellers won’t entertain a purchase offer without a preapproval letter.

Another good reason for obtaining mortgage preapproval is so you know where you stand. You don’t want to unknowingly set the bar too high (or too low). Guessing how much home you can afford will only cause problems; finding out that you can’t qualify for financing on your dream home after you’ve found it can be heartbreaking. On the other side of the coin, you could be doing yourself a disservice by limiting your options.

A mortgage preapproval will help you understand the maximum amount you can afford for a home, as well as what type of loan you should qualify for. Getting the preapproval step out of the way will alleviate a lot of unnecessary delays, as well as show sellers that you are serious about purchasing their home.

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You can also get in touch with us to learn how we can aggressively market your home to all the right buyers. We can help you sell it quickly - and at the right price - so call us today.


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Chip Boyer

Chip is the IT Manager for Alex MacWilliam Real Estate. He handles the technology needs of the company as well as helping agents in their day to day problem solving.....

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