How getting in early can help.
Why Pre Approval can make your buying position stronger.
When looking to buy property, you’ll have heard the phrase “Buying power”.
Buying power means your capacity to put down a fair offer for a quick purchase turnaround. The quicker you can make the process and the better the cash value, the greater your buying power.
Pre approval is a great tool to leverage to up your buying power. As a pre approved buyer, you have already been through the approval process and have been granted a loan up to a defined amount for a property. By gaining your pre-approval before looking for property, you give yourself the ability to know your budget and narrow the search for your dream property. Getting pre-approved allows you the freedom to make a serious offer on a property which can be an excellent bargaining tool. It also cuts down the time between offer and settlement as all of the paperwork is done and dusted so there’s really no messing around between you and those keys!
To get on the road to your dream property with as little fuss as possible, we highly recommend obtaining a pre-approval. Contact us today to learn more about the process and your eligibility.
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