Columbia sc house for sale


It’s a habit that upon meeting with a buyer we don’t talk very long until I ask the question, “Have you a lender and have you been prequalified?”  Most of the time they answer in the affirmative but sometimes not.  Sometimes they say that they just want to look at some homes.  It is difficult for me to find time in my schedule just to show homes if someone has not established a timeline for purchasing a home.  A serious buyer will understand the importance of getting prequalified.  I always explain the importance of getting a lender to do the prequalification and provide written proof for them.

Getting prequalified accomplishes several important things.  Mortgage prequalification provides an immediate overview of a prospective buyer’s creditworthiness.  This provides the buyer and their agent a view of the price homes they should consider. The danger of not being prequalified is looking at homes and finding one you like only to find out it is not in your budget.  This will be a potential letdown for a buyer when they have to now view homes that are less than what they had in mind.  \

Here are some benefits of selecting a lender and getting approved.

  • You have a clear understanding of your purchasing power.
  • It lets you know if you may have some potential credit issues that can cause a delay in purchasing. The sooner a buyer knows this the quicker they can work to resolve any credit issues.
  • With prequalification you can write an offer immediately without delay. Most sellers will not consider an offer if it is not accompanied with a lender preapproval letter.
  • You also gain knowledge of the different lending options that are available and allows you to prepare a budget that will fit your financial situation.