In this week’s Mortgage Minutes series, Mortgage Banker Travis Evans with Academy Mortgage discusses how you can make your offer stand out in this season’s busy real estate market.
April is a very busy month for real estate, as it is in the middle of the spring selling season and many areas are very competitive when it comes to buying a home. To make sure your offer stands out among the rest, here are two tips to consider:
- Do you have an approval letter?
- What are your closing dates?
Getting approved before purchasing a home is very important. Nothing says approved like the actual approval stamp, right? This shows the buyer that you are ready to purchase their home and have the proper financing. To receive an approval letter, gather your W2s, tax returns and your pay stubs. You can submit these documents to Academy Mortgage and they will go ahead and get your loan fully underwritten by one of their underwriting teams.
Second, you want to have a quick closing date. The closing date is when the ownership of the property is transferred to the buyer. When a seller has multiple offers, they are looking to see which offer has the quickest closing date. If one says 45 or 60 days and another says three weeks, the seller will most likely pick the offer with the closing date that is just three weeks out, because that means they will be able to relinquish their old home and move faster into their new one, leaving you to move into your new home faster, too.
The metro Atlanta area has had a great recovery over the past few years. Many buyers are looking to find their dream home, which can cause several buyers to be competing for the same one. By following these simple steps, you are guaranteed an offer that will stand out above the rest!