When you make an offer to buy an Arizona home, you can make your offer stronger by offering a higher price, of course.
However, here is a way you can strengthen your offer that doesn’t cost you any money.
Get pre-approved for a mortgage loan
If you can show a seller that you will have little trouble borrowing the money needed to pay for the home, then the seller is more likely to accept your offer, even if the seller doesn’t like the price you are offering.
If, on the other hand, it’s apparent that you just started to look for a loan, the seller will be less inclined to accept your offer.
You may be a super reliable person but the seller doesn’t know you from Adam. The seller will be worried that you will not be able to get a mortgage loan and will have to flake out later. Sellers tend to want a higher price from unproven buyers since they “flake out” more often than pre-approved buyers.
Call me if you would like a list of Arizona lenders who can start the pre-approval process for you.
I want to be your Realtor!
{ 1 comment… read it below or add one }
Blair 10.21.09 at 3:42 pm
Hello John,
It’s refreshing to see a Realtor actually give sound advice. I agree, the first step in buying a home should always be to get pre-approved for a mortgage. We have also compiled a current list of reputable lenders who specialize in different mortgages. Finding a good Phoenix home mortgage company has become increasingly difficult given the recent credit crunch. I believe that it’s also imperative that buyer do some research before settling on one lender.