If your thinking about buying a new home 🏡 you need to watch this before you start 👀looking.
Is your goal to buy a new home? Are you making this common home buying mistake? That’s the question?
I’m Marvin real estate Broker with Night Owl Realty in this video I’m going to share the most common mistake I see people make when they start the home buying process.
One Mistake I often see home buyers make is going to see a property before getting pre- qualified or pre-approved for a mortgage Do Not, I repeat, Do not skip this step and here’s why.
You need to know that you are financially qualified to buy a home. The last thing you want to do is go out fall in love with a home that you can’t even qualify for. You’ll be surprised how often this happens.
My number one advise is, speak with a lender first. It’s going to save you so much time. A lender will go over your credit, your income, available cash and let you know what amounts you may need for a down payment or closing cost. This one step will cut so much stress out of your home buying process. Why? Because now you know exactly how much of a home you can afford.
Also the seller wants to know you are financially qualified to buy their home. To be honest, they probably won’t even consider your offer without knowing your qualified buyer. Even if you’re paying all cash your still going to a have to show proof of funds that you have funds available to purchase the home your looking for.
Now once your pre-approved by a lender, then go out and start looking to find that perfect home and you’ll be able to put in an offer and beat out other buyers who skipped this step to get the home you want.