 Need
Confidential Mortgage Application
Take Advantage of Today's Low Rates and Low Closing Cost
It seems that you can't go wrong when making a purchase in a buyers market. However even in this kind of a market sellers still want to make the right decision when accepting an offer. It only it makes sense to negotiate from the strongest position possible. In a soft real estate market, sellers are trying to squeeze every last dollar from their house that they can. They also know that when they accept an offer, their home is off the market while in escrow. During that time they may lose potential buyers in the event the current buyer can not get financing. Sellers want to be sure that the offer they take will actually go to the closing table. There are certain things you can do to make the sellers want to go with your offer.
The most buyers today go about the process entirely wrong, putting themselves in a weak negotiating position!
Let's look at this from the Sellers perspective for a moment. If you were the Seller and knew you may only get a few offers on your property and may tie up your home during prime selling time, all things being equal, would you accept the one with Certificate of Financing Approval or the one that was still conditional on Financing? The answer is obvious. Why then, do so many buyers wait to start the financing until after they have found the home?
In the Memphis market right now there are thousands of buyers going around with pre qualifying letters that are bogus. Mortgage brokers are handing those letters out like they are candy. Most sellers know this and are not impressed by the standard qualifying letters, in most cases the Seller has no guarantees.
Lastly, from a cost savings perspective...
As a prospective purchaser, it makes all the more sense to start the financing early on so you can get a firm handle on your interest rate and estimate of points and closing costs. Now youÕll be truly knowledgeable when entering into an Offer to Purchase Contract. If you do this before finding a home, you will know exactly how much to offer and what kind of impact the monthly notes are going to be to you.
Should you decide that you wish to take advantage of Pre-Approval, simply complete the attached confidential mortgage application. We will process your application and let you know what you can truly qualify for and what the lowest interest rate you can expect to get.
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