Good homes, in good neighborhoods, priced well, are in demand. In our market, homes priced from $150,000 to $300,000 often attract multiple offers. When that happens, the seller and listing agent have to weigh the offers based on their needs. Factors like dollar amount, length of option period, closing date, and buyer qualifications are considered. This is where a pre-qualification letter from a lender can mean getting the home of your dreams…or losing out to another buyer who is better prepared. (And if you want to take it a step further, ask the lender about getting pre-approved.)
So you can see that if you aren’t pre-qualified you’re less likely to get the home you want, therefore we recommend contacting your preferred lender or a mortgage pro like those listed here.