This video explains how preapproval helps homebuyers stand out in a competitive market. Getting preapproved shows sellers that a buyer is serious and financially prepared, with income, credit, and debt already reviewed by a lender.
Preapproval allows buyers to act quickly when the right home appears, making their offers more credible and appealing. In multiple-offer situations, pre-approved buyers are seen as low risk and reliable, increasing the likelihood that their offer will be chosen.
It builds confidence for both buyers and sellers — buyers know their budget, and sellers feel assured that the transaction will proceed smoothly without financing surprises.
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Alex Price, Real Estate/Mortgage Broker Toronto, Mississauga and GTA Direct
phone: 647-403-4282
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