Being prepared in real estate doesn’t just apply to sellers, but also to buyers. It’s an extremely tough market for buyers and not everyone should be buying right now. Above all else, any potential buyer must have their finances in order before they begin their search.
One of the most important steps is to get a pre-approval. It shows that you are fully approved on the offer you are writing – which makes a big difference to a seller. You also need to have the additional funds available beyond the appraisal. If there’s no safety net of savings beyond what you’re spending on your home, then it may be best to wait to buy!
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