Does a pre-approval make a buyer more comfortable about their purchasing power?

Asked by Bill Barbin, North Conway, NH Tue Feb 14, 2012

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3
Scott McCaul…, Other Pro, Portsmouth, NH
Tue Feb 14, 2012
It should! At least, when done PROPERLY by a mortgage professional.

It should also make the buyer (and their agent!) more confident that their offer to buy a home will be looked upon with greater interest by the seller over some random offer that does not qualify who the buyer is.

If anyone is in need of being pre-approved, I can do it for free- and it do it properly.

Regards,
Scott McCauley
Licensed Mortgage Originator
(please see my attached website link for contact info)
Web Reference:  http://www.LendWithScott.com
2 votes
Scott Godzyk, Agent, Manchester, NH
Wed Feb 15, 2012
Bill most buyers do not realize there is a difference between a pre-qualification and a pre-approval. It is up to a well experienced buyer agent to educate them what it means and teh power it has. It will certainly help when making offers and is actually required when making offers on bank owned properties.
Web Reference:  http://www.ScottSellsNH.com
0 votes
Seth Captain, Agent, Chicago, IL
Tue Feb 14, 2012
It depends, which would probably suffice for any question in history.

If the buyer is pre-approved for properties with a maximum value of $200,000 and they don't like anything valued under $300,000, they better have plenty of money to put down, or their pre-approval will depress them right back into the rental market and away from the American Dream of homeowner's associations and lawn cutting competitions.
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