Thursday, April 3, 2014

Home Buyer Tips: Make sure the wallet is not empty.

How often do you go shopping without your wallet?  Not very often I bet if you intend to make a purchase.  

That doesn't mean withdraw all your money and carry it to the mall though.  There is absolutely nothing wrong with limiting the funds available to what you intend to spend - especially cash which can seemingly disappear instantly!

A shopper with purpose will address the money issue before shopping.

Now when it comes to shopping for a home it is critical one not go shopping without a "wallet."

In the case of a house or condo wallet most likely will mean a mortgage pre-approvalThere is a difference between a mortgage pre-approval and a pre-qualification.

Buyers need to know what they can afford as well as what they intend to spend.   Being approved for a mortgage does not mean one must shop at the maximum approved amount.

When one finds a property that meets their needs and decides to make an offer they should be confident it is within their approved budget.

Further, a seller will most often require a buyer have the available funds (i.e. mortgage approval or proof of funds if paying cash) before accepting an offer.

The home purchase process requires a lot of effort with the most important being the first item - making sure the wallet is not empty.  This almost reminds me of some commercial on TV right now that ends with "Whats in your wallet?"

For information on homes for sale in Brevard County, Florida, please give me a call or send me an email.  If you have a question, just click on the link below to email me.