Rhode Island Blog Rhode Island Real Estate, Events, Restaurants, Vacations, Local Beer, Breweries, Directory and more!
These days the house hunting game has changed quite a bit. To begin, technology has given us the opportunity to get right inside houses without actually leaving our houses. That means when you finally decide to look at a house, you are most likely seriously considering the house as your new home. That being said, a number of agents and sellers are asking you to come to the showing with your pre approval letter. Real Estate blogger, Emilio DiSpirito, tells us why a pre approval letter makes a whole lot of sense in today’s Real Estate market!
6 of many reasons why buyers need to be pre approved or show qualification before viewing a property
- Seller & Realtor Safety – Your Realtor is on the front line.. Several Realtors have been attacked & even murdered from showing homes to undocumented buyers.
- Theft – It’s sad to say that thieves are smart & know how to take advantage of weak real estate agents. Agents that do not require a pre approval letter are subjecting themselves and their clients to many scary issues, one of which may be immediate theft or allowing a professional criminal in to case the property. Easily avoided by obtaining information from bank or mortgage brokerage. Someone who knows their identity is known would not commit heinous crimes.
- Understanding what you are qualified for – Often times you may be looking at homes that you are not qualified to purchase. In many instances, you have the income but maybe you wrote off to many deductions on last years 1040 or you had some leave time from work or your credit score dipped below where it needs to be. Obtaining a mortgage pre approval will allow you to prepare and budget.
