When buyers submit an offer to purchase your home, you want to know they are ready and able to buy. A professional and experienced buyer’s agent will take buyers to view homes only if they are pre-approved.
There are two ways that lenders “qualify” buyers for purchase. As a seller, it is important for you to know the difference.
1. Pre-Qualification Letter – This is a letter that is a best-guess estimate of what a buyer can afford, but not a guarantee. It is based on the lender’s asking a few questions about the buyers finances.
2. Pre-Approval Letter – This is a letter with a firm commitment from the lender based on the buyer’s actual finances. The lender has pulled credit and looked over their financial documents and determined what they can afford to purchase.
When possible, request that the buyers submit a pre-approval(pre-approved) letter with their offer on your home. This will show you that they have a strong ability to purchase your home.
“I highly recommend getting a pre-approval letter with offers.” – Brian Hardyman, Listing Agent on the Ashley Lewis Team
Ask your lender for a pre-approval letter when you are ready to purchase your next home. For a list of lenders who offer pre-approvals in Greenville, SC, call us today!
For more information contact the Ashley Lewis Team at http://SellMyGreenvilleHome.com
Planning to sell your home in Greenville, South Carolina in the near future and want to work with pre-approved buyers?? Contact the Ashley Lewis Team today to learn more about building a sales attack designed to get results! We are your Greenville, SC real estate specialists at Keller Williams Realty of Greenville South Carolina.
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Ashley Lewis Team of Keller Williams
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