The most successful home buyers experience a smooth closing transaction because they have a pre-approval letter. If you want to purchase a residential home in NC with little or no worry of losing any housing related money, a buyer will meet with a trusted mortgage loan officer prior to beginning their home search. The top reason pre-approved buyers win every time is because they are certain of their exact purchase price, they are certain no issues exist on their credit report, tax returns, pay stubs and they are certain their portfolio meets all the unique requirements to obtain a loan. By meeting with a loan officer and providing the necessary documents for a pre-approval letter, buyers will experience home sellers and home builders eager to accept and sign a contract and be flexible during the transaction.
The pre-approval letter should not be confused with a pre-qualification letter. A “pre-qual” is is a letter given by a loan officer verifying a buyer’s ability to obtain a loan without an in-depth examination of the client’s profile. Many real estate transactions go under contract with a “pre-qual”. The results can be what I call the Monet experience. This experience occurs when the loan officer recognizes that the pre-qualified buyer is a masterpiece from a distance, but up close the file is a big mess. All to often the financial blemishes are not discovered until after the client’s diligence deadline. The result is a loss of money or worse, the relationship with a valued client is ruined. The “pre-qual” process is not the most successful path to homeownership and here at NC Living Realty, we place our clients in the winning position.
In life, everyone wants to be successful and homeownership should be no different. Click here for a list of documents and become a pre-approved home buyer who wins every time.