Imagine that you’re selling a home and you receive two offers. One person quotes you a lovely number. The other person quotes you a similar number and hands you a piece of paper from a lender, guaranteeing that this person actually has access to the money he or she is promising. Who will you sell your house to? Chances are, you’ll trust the written word over the spoken word. You’d be surprise how often this occurs particularly in competitive real estate markets. That’s why it’s important to get pre-approved for a mortgage.
Making an offer involves a lot of strategy. You don’t want to turn of the seller by low-balling him, and at the same time you don’t want to pay too much for the property. Your real estate agent should be involved in brokering the offer, as they can advise you on a realistic offer that maximizes your chances of buying that property. The seller will most likely have their own real estate agent, and they will want to maximize the sale price. So don’t get into any negotiations with that agent without the presence of your own agent.
