I can't say this enough times to potential buyers.
You need to have your finances approved by a mortgage lender and trust (earnest) money ready so you can swoop in ahead of the competition when the right opportunity arises. What this means is getting
pre-approved BEFORE you start viewing homes is the best first move. In the Memphis and surrounding areas market, homes are selling quickly. Most sellers even require a pre-approval letter along with an offer, so you can't even submit one if you haven't got a pre-approval with a lender.
Another reason you should speak with a lender before viewing homes is so that you and your agent have a financial guideline to use when deciding what prices homes you should be looking at anyway. You may WANT a $300,000 home, but your credit score and income may only afford you a $150,000 home. Knowing your financial limitations is a must from the beginning.
So...say it with me.
I WILL GET PRE-APPROVED BEFORE I LOOK AT HOMES.
(Not to mention, I have some great lenders that have great programs to offer.)
You'll be glad you did.
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Hi. I'm Tamara Manuel. I am a wife, a mom, and a realtor. I am like many of you, in that I juggle and wear multiple hats at any given time. I am easily inspired by others and have been told that I inspire a few myself. This blog was created to help inspire you to purchase a home, or if nothing else, equip you with plenty of knowledge so that if you ever decide to, you will be an informed buyer or seller. I just have four requests of you...