With all the bidding-wars going on, what is the final price going to be, and can you afford it?

Many people approach me with this question. While I am the Realtor, this question is really answered by one of your allies– the Mortgage Loan Originator, or the one who qualifies you for the home loan.

After you submit your financial documents, a pre-approval is generated showing your maximum price you can be loaned on the purchase. The seller may not know this highest value, so that is why it can be tweaked for offer purposes.

When offers are submitted, you may be subject to counter offers. These could increase your original price beyond what you are qualified for. When this happens, it is called “Priced Out”. It’s a situation that can be avoided when your Realtor shows you properties that you qualify for with margin of error for counteroffers.

When you link up with a Realtor, the notifications get made, the qualifications are in place, and you can be successful with your home purchase with ease.