If there is only one piece of advice that we could offer you as a real estate agency, it would be that any potential buyer, new or veteran, should become pre-approved at the beginning of their home buying journey. Why is that so important? Because in today’s market, with home prices surging, & the buyer competition increasing at an extremely fast pace, it is a high priority to have a clear understanding of your budget so that you can stand out to sellers as a serious buyer.
Be Aggressive (in a good way):
Being well calculated & competitive are musts when buying a home in today’s market. Receiving pre-approval from a lender is a sensible & solid way of educating yourself on how much you can afford & how much money you will need to borrow for a loan. This pre-qualified letter is also an extremely helpful tool in showing homesellers that you are an accredited buyer, which can help you land your dream home in an ultra competitive market.
Prepare Your Army:
Every step you can take to gain an advantage over other buyers is pivotal in today’s market. House prices are increasing, mortgage lenders are updating their standards, & interest rates can depend on your financial status. So it is not only smarter, but best, that you receive guidance from a team of professionals that can help guide you through these ever-changing real estate waters. By doing this, you will bring clarity to your home buying process, as well as show homesellers that you are serious about purchasing their house.
Win the War:
In today’s market there are currently more buyers than sellers, which is causing a limited amount of inventory of homes to show, therefore making the market extremely competitive. On average, most sellers are receiving 5 offers within days of their homes being put up for sale. The result of this? Bidding wars! A bidding war occurs when potential home buyers compete to win the house they are both interested in. This can sometimes push the final price of the house up to thousands of dollars more than what was originally being asked for by the homeowner. Being pre-approved will give you the advantage if you find yourself in this scenario, & in today’s market, it will likely help you win the bidding war because it shows the seller that you are financially capable to afford your said offer.
Get Pre-Approved with Team Lail-Chambers Today!
Pre-Approval can make all the difference when buying a home & we want to help you have the best home buying experience possible! The staff here at Team Lail-Chambers, led by Bob Chambers & Pheobe Lail-Chambers, are well-acquainted with Charleston & the Lowcountry, & are happy to help you decide on the best neighborhood for you & your family. We work hard to match you with a home you'll love. Contact us today! We are ready & waiting to help you find your perfect Charleston home!