The Importance of a Pre Qual for a Home Buyer

Posted by Thomas Crimmins on Thursday, April 11th, 2013 at 9:20am.

Buying a home can be a long drawn out and stressful process. It is so important to surround yourself with true professionals. Among these professionals are a real estate broker, an attorney, a home inspector and a mortgage broker.

Your first stop aside from maybe sitting with a real estate broker to make sure you feel comfortable and “hit it off” is to contact a mortgage broker to learn or verify your true buying power. Many naïve buyers look at homes first and then worry about buying power. Wrong! Aside from not wasting your time, seller’s time and real estate agents time, a buyer needs a pre qual from a reputable banking institution for various reasons:

• You need to know true buying power
• You need to know the monthly cost or expected budget
• If you are not pre qual prepared you can miss out on an opportunity if the home of your dreams comes on the market and the seller goes with an already pre qualed buyer.

Don’t Wait! Get prequaled now. Call Tom Crimmins Realty at 718.370.3200 for some Referrals.

Tom Crimmins is the broker/owner of Tom Crimmins Realty. This St. John’s University graduate and native Staten Islander’s past careers include Assistant Dean of Students at SJU, NYPD Sergeant, Director of the Carnesseca-Sarachek Basketball Camp, and investor, speculator, and buy-fix-flip real estate expert. His real estate experience, which spans 30 years, is second-to-none.

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