How to have a stronger negotiating position
Start off by knowing exactly where you stand, so you don't just have a stronger bargaining position and a better handle on the future, but are more likely to control the negotiation itself.
Transcript
Hey, what's up? This is Tim Clarke, your trusted real estate advisor in the Raleigh-Durham Triangle Market, and this is your free helpful tip and trick from Tim. Buyers, if you're purchasing with a loan, a mortgage pre-approval is highly recommended. This must be done prior to beginning your property search and certainly before making any offer.
In a highly competitive seller's market, this will give you a better negotiating position and avoid wasting time looking at properties that may exceed your financial limits. Equally important, without this headstart on your mortgage process, you are likely to need substantially more time after contract to determine if you can obtain a loan you need. This process will require a verification of income, assets, expenses, and of course, the formal application underwriting and appraisal will still be necessary in a mortgage loan to approve the fund that is always subject to change until that closing day. This is Tim Clarke, and this is your free helpful tip.
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