Preapproval: Strengthen your negotiating power

Preapproval: Strengthen your negotiating power

mortgage-loanA preapproval letter from your mortgage lender can be an important tool to strengthen your negotiating power. Sellers and listing agents tend to take offers more seriously when the buyer has been preapproved.

When you have found your dream home, and you are ready to make an offer, submitting a preapproval letter with the offer says you are a serious and committed buyer.

A preapproval letter is based on a preliminary review of your credit information and preapproves you up to a maximum loan amount. Because a preapproval includes a credit check, it’s more powerful than a prequalification letter, which only estimates your potential buying power.

With a preapproval letter, you can confidently shop for a home in your price range, and you are in a position to negotiate an offer – especially when there are multiple offers for the home you want.

As you prepare to make one of the biggest purchases of your life, a preapproval can ensure that you are in a loan program that meets your needs.

www.JeanHedren.com

Advertisements

About Jean

Jean Hedren, Your Northwest Wisconsin Realtor. Specializing in up-north lake homes, cabins, and waterfront real estate. Serving the real estate needs of northern Wisconsin buyers and sellers in Barnes, Solon Springs, Lake Nebagamon, Gordon, Wascott, Minong, Trego, Spooner, Hayward, Webb Lake, and beyond. I’ll be glad to help you find the lake place that’s right for you; some of my favorite NW WI lakes include the Eau Claire Chain of Lakes, Nelson Lake, Lake Minnesuing, Lake Nebagamon, Upper Saint Croix Lake, Whitefish Lake, the Minong Flowage, Gilmore Lake, Kimball Lake, Nancy Lake, Bond Lake, Leader Lake, Big Bass Lake, the McKenzie Lakes, Horseshoe Lake, and Webb Lake. To learn more about the cabins and lake homes for sale in northwest Wisconsin, give me a call at 218-590-6634. Or, you can reach me at jeanhedren@edinarealty.com.
This entry was posted in first time home buyer, home buying tips, NW WI Real Estate, Wisconsin real estate and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s