Posted 10.18.12 @ 5:15
So you’ve decided to start looking at Oakville homes for sale… but are you missing something? We’ve touched on the importance of getting financing BEFORE you start looking for a home, but is it something that you have to do? You’re going to need to know how much home you can afford before you start looking, and if you know we can help you find the right house. You might be surprised what doors a pre-approval letter can open up, especially in the most exclusive of Oakville luxury real estate circles.
What Does Pre-Approval Mean?
It means you’ve gone to your mortgage lender ahead of time and applied for financing. They’ll be able to get you something known as a “good faith estimate” to make sure that you know how much your mortgage amount could be and how much you’ll need each month. Even if money is no object, it’s important to be able to show this kind of approval; many private sellers won’t list their homes on the MLS and won’t want to waste time showing to buyers who can’t afford the property.
Once you’ve been preapproved you’ll have a letter you can present to finicky sellers. You’ll also know exactly how much you can afford in Oakville luxury real estate, saving you time and money so you don’t have to worry about looking for property that’s above or below what you want to spend.
Speed Up Closing Time
The time it takes to close on Oakville homes for sale can be prohibitive, to say the least! If you want to be able to get the home you want sooner, it pays to get pre-approved for financing. You’ll want to get prepared ahead of time with all of the documents needed (call your lender for a list), and then you’ll be able to fill out the paperwork. Whatever rates you get should be good from anywhere between three months and six months, giving you ample time to find another home.
Even if you’re not opting going to spend all the financing that’s promised to you, make sure that you know the max that you could get. It’s never the best idea to take it all (and very few people investing Oakville luxury real estate would need that much in the way of financing anyway) but it’s good to know what your upper limits are.
When you work with us, we’ll be able to look at the max amount you’d like to spend and structure your plans around that. From showing you homes in that spectrum to helping you understand the subtle differences in a small price jump (or drop), we’ll help you look through all the Oakville homes for sale that will match up with your criteria. You’ll be able to get the home you want without having to work so hard, because that’s what we do. Choose us as your Oakville luxury realtor today and experience the Goodale Miller difference.