Get Pre-approved and Always Work with a Buyer’s Agent

It can be off putting when asked by a realtor “Have you been pre-approved?”

Getting pre-approved to purchase a home is not to insure that time is not wasted but rather to ensure the buyer has every advantage when making an offer in a competitive market!

Usually, the seller or home owner will always go with the best and most timely offer. There is no need for them to wait on a buyer to get pre-approved when they already have an offer from a qualified buyer on the table.

Getting a mortgage pre-approval will give you the following advantages when searching for a home:

  • Proves you are serious to sellers and agents.
  • Will allow you to quickly make acceptable, competitive offers on homes that are new on the market.
  • A mortgage pre-approval will give you a price range of the home you can afford.
  • The pre-approval will also let you know what type of loan you can get on a home, such as FHA, VA, Conventional, USDA or other specialty loans that may be offered by the state in which you are buying.
  • Provide you with a specialist, your loan officer, who can get you the best deal with the bank and answer important questions about the process.

Once you are pre-approved, then contact a buyer’s agent and begin searching for a home that fits your budget and preferences.

Having a real estate agent to assist you in the process of finding and purchasing a home can save you time and money. In addition, the agent is obligated to you! They are working in your best interest just like the selling agent is working for the seller’s best interest. As a matter of fact, each are contractually obligated to look out for their client’s best interest.

Going at it alone can be costly and can even mean losing out on getting what you want.

Typically, using a buyer’s agent doesn’t cost you anything. You are not paying the buyer’s agent’s commission so there is no reason not to use one.

The Tennessee Association of Realtors has put together an agreement that realtors, buyers and sellers can use to specify and provide guidelines for the process of buying and selling property in Tennessee. Click on the link below to view and download.

Working with a Real Estate Professional (TAR RF301)

If you are looking for a home in the Chattanooga, Tennessee are or North Georgia market and have not been pre-approved, you can complete this form and we can provide you with a list of loan officers that will look forward to working with you on your pre-approval.