23 Mar 2015

Get Ahead on Your Offer

The “spring” real estate market has certainly started early this year, and we’re seeing lots of buyer activity. And with tight inventories in some markets, we are also seeing a resurgence of multiple offers.

So what can you do, as a buyer, to make your offer stand out?

The answer, indisputably, is pre-approval. This requires you as the buyer to gather all required documentation upfront and complete a full application – as you would if you had already found a property.

Pre-approval is particularly important if you are a first-time homebuyer – and that’s 33 percent of today’s buyers, according to the National Association of Realtors 2014 Survey of Buyers and Sellers.  But the paperwork required to get a mortgage is a turn-off for 27 percent of first-time buyers. Why not get a jump on this step – and gain a competitive advantage when making an offer to purchase?

At Allen Tate Mortgage, our pre-approval process includes a review of your completed application and all documentation by our underwriter, who is the decision maker on mortgage loan approval. When you are pre-approved through this process, the only typical requirements when you find a home to purchase is a fully executed contract of sale and acceptable appraisal. The pre-approval is good for 90 days, which gives you ample time to shop for your dream home and make a competitive offer.

Note: A pre-approval is different than a pre-qualification, which is typically an application and a review of your credit reports by a loan officer. While pre-qualification is a great starting point and gives you an idea of how much home you can afford, a pre-approval puts you in a much stronger position to make an acceptable and desirable offer.

For more information about pre-approval, talk to an Allen Tate Mortgage Consultant.


Lisa Green (Vice President of Loan Origination)

Allen Tate Mortgage NMLS# 79543

Loans available in NC/SC

*Some restrictions apply and all loans are subject to final approval



Allen Tate Companies
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