Ready for a Mortgage? Edmonton Buyers, Increase Odds of Getting an Offer Accepted With These Tips — Flare Mortgage Group — flaremortgagegroup.com

The housing market can be very competitive. To increase the odds that a seller accepts your offer over that of another prospective buyer, here are a few things you can do.1. Receive Pre-Approval from a Mortgage Broker Most people need to borrow money to purchase a home, which means taking out a mortgage. Instead of waiting until you’ve made an offer to start this process, receive pre-approval from a mortgage broker. This will provide you with a letter you can show the seller to demonstrate you’re in the financial situation to complete the purchase. It’s important to note that pre-approval doesn’t commit you to the loan — it simply shows that the broker has conducted a preliminary review of your credit and judges that you will qualify for a loan up to a specific amount.2. Reduce the Due Diligence PeriodOne of the best ways to compete with other buyers is through the shortest possible inspection period. Since buyers are often able to back out of a sale during the due diligence period, sellers prefer the short periods, as it means they can return to market quickly. Of course, you could eliminate the inspection entirely, but this is a high-risk move.3. Simplify Your OfferSomething else appealing to sellers is a clean offer: with short financing and appraisal contingencies. In addition, you shouldn’t ask the seller to pay for closing costs nor include a contingency that you first need to sell your house. Having said this, sometimes the best rate means a longer financing condition is required so the longer you can get the better it is for you as a borrower. To put these strategies into action, the first step is to apply for a pre-approval on your mortgage. Edmonton homebuyers have Flare Mortgage Group — one of the top mortgage funders in all of Alberta. Contact us to start the pre-approval process and move one step closer to purchasing your dream home.

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