If you need assistance, please call 407-603-9240

How Does a Letter of Pre-Approval Make the Buying Process a Whole Lot Easier?

Monday, October 19, 2015   /   by Tom Nickley

How Does a Letter of Pre-Approval Make the Buying Process a Whole Lot Easier?

 Want to sell your Orlando Home? Get a FREE home value report | Want to buy an Orlando Home? Search all homes for sale

 

If you're thinking about buying, you really need to consider getting pre-approved. It's one of the most important things you can do to ensure the home search process goes smoothly.

The first, most important reason for getting pre-approved is to avoid falling in love with a home that you can't afford. So many inexperienced agents will take any buyer out at any time to see any home without getting pre-approved; this is doing the buyer a great disservice because there is nothing worse than spending a day looking at houses around $250,000, only to find out from your lender after you've found the perfect home that you can only afford a home around $175,000. This is disheartening - it sets you up for failure because you'll be comparing the cheaper homes to the more expensive ones you were already looking at.

Another reason it's important to get pre-approved is it makes your offer stronger. If you find a house you fall in love with and you want to write a strong offer on it, your offer will hold no weight in the seller's eyes without a pre-approval letter. In fact, without one, a seller won't even take your offer seriously.

Thirdly, it's important to have a pre-approval because if you want to submit an offer on your home, and you find yourself in a multiple offer situation, not having a pre-approval letter will result in the seller taking the other offer with the pre-approval. That will happen 9 times out of 10, even if your offer is stronger.

There are a number of great local lenders here in the Orlando area. The pre-approval process is smooth and painless, so if you are thinking of buying a home, please don't hesitate to reach out to us. We would love to set you up with one of our preferred lends or sit down with you for a free real estate consultation.


  home buyer tips

The Nickley Group
Tom Nickley
11 S. Bumby Ave, Suite 200
Orlando, FL 32803
407-603-9240
321-945-1152

mls logo© 2025 My Florida Regional MLS DBA Stellar MLS, Inc.. All rights reserved. The data relating to real estate displayed on this website comes in part from the Internet Data Exchange (IDX) Program of My Florida Regional MLS DBA Stellar MLS, Inc. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers' personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law.2/10/2025 2:50 PM CST
This site powered by CINC: www.cincpro.com