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Short Sales




Get Pre-Approved

If You Are Thinking About Buying A Home, Get Pre-Approved.

When buying a home, you need every advantage you can get. With the economy stabilizing and job growth increasing ever so slightly, more people are starting to look at buying homes and finding that it is more difficult than ever.

Although there are literally thousands of homes on the market, most of them being foreclosures, banks are not willing to haggle with people who come to the table unprepared. Banks are looking for qualified buyers who have cash or have already been pre-approved for a loan.

In reality, most buyers in today's real estate market are investors who are competing to buy short sales and auction properties with regular buyers. Investors are swooping up these properties, not to live in, but to keep for long term rental purposes. They can afford to hold on to the properties until the real estate market turns around and equity in their properties start to grow.

Wise investors know that real estate is still good to invest in, regardless of what the so called financial experts are saying. Savvy investors know that sooner or later the real estate market will start to grow again and they are preparing for it by buying as many properties as they can get their hands on, especially at today's low prices.

Buyers who can't pay cash for property but have good income and good credit can compete with cash rich investors if they go about it the right way. The best thing to do is to get pre-approved for a mortgage.

Banks and regular sellers are more likely to accept pre-approved buyers over simultaneous offers and bids of buyers who have not been pre-approved, even if their offers are higher.

A pre-approved loan tells the seller that you have gone to a lender and given them all the documentation that they need to approve your loan. The lender has checked your income, employment status, debts and financial status, credit report, and FICO credit score. Based on this information, the lender approves your loan at the amount you are qualified to repay.

A pre-approved loan gives you the advantage of knowing what you qualify for before you start your search for a home. It keeps you from bidding on properties that are financially beyond your reach and saves the seller from wasting time while you try to find a lender that will give you a loan.

Why is getting a pre-approved mortgage important? A pre-approved loan is equivalent to cash and most auction houses readily accept bids by buyers with pre-approved loans.

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