by Donna Soda
on Wednesday, May 3rd, 2017 at 3:45pm.
Pre-approved luxury home buyers are better buyers in Lakewood Ranch, Florida
Chances are if you are reading this, you are thinking about buying a luxury home in the 34202 zip code.
Unless you are paying cash being a pre-approved buyer is the best way to make an offer on a luxury home in Lakewood Ranch, FL.
Pre-qualified simply means the buyer has only stated how much he earns and what he owes. Although the information may be factual, it is not verified by the lender and not sufficient to give a mortgage.
Pre-approved buyers have provided the lender with documentation such as pay stubs, W-2’s, tax returns, all sources of income, and debt. A credit check will be run. Once the information has been verified the lender will issue a conditional pre-approval letter in the amount of the mortgage for which you qualify or are seeking. This shows the seller that you are a serious buyer and you are prepared to negotiate. The seller has the assurance that you are able to close on their home if the inspections are satisfactory and the title is clear.
Lakewood Ranch, Florida is the premier city in Southwest Florida for luxury home living. With numerous home styles and neighborhoods to choose from finding the right home for you will be the only hurdle you will have to overcome once you have been pre-approved for a mortgage.