Firstly, like most REALTORS®, it’s a lot easier for us to help you if we know what your budget is. That way, we can save you time by not showing you properties that don’t fit your wallet. Secondly, buyers who are pre-approved are much more likely to see their offers accepted. In short, as a REALTOR®, we know that if you have been pre-approved for financing, there is a much better chance of the deal going through.
Don’t wouldn’t waste time with homes you can’t afford – this is where pre-approval comes to play. It’s one thing to look at homes for ideas on paint, furnishings and design and another to look at a home in light of affordability. What meets your expectations may not meet your wallet and may mean you have to wait awhile before buying the home of your dreams.
Think of it this way, going shopping without a pre-approval is like shopping without your wallet, it’s a waste of time to you, the Agent’s time, and in many times the tenant or owner occupying the apartment who has to take time of their schedule to be there for the showing.