Moving to Maplewood-Pre-Approval is an Essential Step

What Does a Pre-Approval Letter Mean To a Seller?

In today’s world, home-buyers should definitely get a pre-approval letter from a qualified Mortgage Loan Officer before any seller will take them seriously.

A buyer needs to be pre-approved because, firstly, you want to know what you truly and/or comfortably afford. One tip in selecting the right Mortgage Loan Officer is if they ask you for a potential listing so they can ensure the right tax rate is figured into their calculations. Once you have your pre-approval, you can make an offer on a home because the pre-approval indicates they’ve been approved to afford a certain loan amount. The best real estate agents make sure their clients are pre-approved during the early stages of the home buying process.

It is also important to know that a pre-qualification letter is NOT equal to a pre-approval letter.

A pre-approval letter means that the lender has independently verified your credit, income, and all the factors that are needed to determine a loan amount. The buyer has access to that loan when an offer on a home has been accepted. A pre-qualification letter is not an approval for a loan, it is a tentative evaluation see wikipedia.

When you are pre-approved, there is very little that can stand in the way of you purchasing a home for the dollar amount you’ve been approved for.

What Does a Pre-Approval Letter Mean To a Seller?

1. Your pre-approval letter will either give the seller reasons to accept your offer or to reject your offer. Make sure you are making offers on houses within the range of what you’ve been approved for.

2. Sellers and real estate agents feel more comfortable if the letter is from a local or well established lender. If the agent can vouch for the mortgage lender than it makes a great impression on the seller who may be skeptical about pre-approval letters from non-local companies.

Mark Slade
Keller Williams
917.797.5059
Good Homes

Selling a Maplewood/South Orange/Millburn/Short Hills area home involves many steps and having an experienced Maplewood New Jersey Real Estate Agent and Realtor®, specializing in the Bedroom Communities of New York City in Essex/Union County— Millburn, Short Hills, Montclair, West Orange, South Orange, Livingston, Maplewood, Springfield, Summit, Madison, Chatham, Scotch Plains, Fanwood, Cranford and Westfield–by your side will make the transaction run a lot smoother. I would love to be your Maplewood/South Orange New Jersey Area Real Estate Professional! I assist both buyers and sellers in the Bedroom Communities of New York City, mostly served by NJ Transit’s Mid-Town Direct Train Lines, offering commutes of 45minute or less to NY Penn Station, with either the purchase and or sale of residential real estate.

As an Accredited Buyer’s Agent (pending), I have received special training to guide and educate you through the entire home buying process. From start to finish, I listen to your needs and desires in what you would like and take the information you give me to find you home. My GO-TO team can provide you the best in Real Estate advice with regard to attorney choices, Home Inspectors and Mortgage Loan Officers

As your Maplewood/South Orange/Millburn/Short Hills/Essex/Union County New Jersey listing agent I am well versed on as your local expert in all things in the Maplewood and South Orange area Real Estate Market. You can expect personalized service that includes a detailed consultation on how to best position your Mid-Town Direct home to be competitive in today’s market with training to provide my clients with an in-depth Advanced Comparative Market analysis, and advice on staging. As my office’s technology officer as well as both a Zillow Platinum Premier and Trulia Premier agent, I use the latest and most up-to-date marketing methods to get your home in front of as many buyers as possible. Being your New Jersey Real Estate Agent and Realtor ® not only involves just finding the home or selling the home, but being your guide, negotiator, advisor and advocate and making sure that your needs and goals are met. Being your New Jersey Essex/Union County area Realtor® (with a little bit of Morris Cty thrown in for good measure) is one of my truest passions, and “Helping You Find Your Dream Home” is my number one priority.

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