Get Pre-Approved before you start shopping

Labor Day is now behind us and the Fall Selling Season is about to begin. One of the most important things you can do in preparation of searching for a new home is to get yourself Pre-Approved for a mortgage in advance. There are basically two reasons for this. One is that most buyers don’t know exactly how much they can actually afford to spend until they have met with a mortgage professional. The second is that in order to make an offer on a property you must supply the listing broker with a copy of your Pre-Approval letter.

As the real estate market continues to improve in Manhattan we are seeing more and more instances in which there are multiple buyers bidding on a particular property. The buyers that are prepared with all of their paperwork in order are the most desirable to the sellers even if their offer is not the highest. The reasons for this are listed below; I hope you find it helpful.

If you are thinking about buying and would like me to recommend a mortgage professional to you, please let me know. And, as always if you or someone you know is ready to buy, sell or rent property in the city, please let me know.