You’re Pre-Approved To Purchase A Home:What Happens Next?

In a previous article we went in-depth about pre-approval, what it is, how to get it and why it is a very important first step to buying a home. So you have gathered your financial documents, talked with a lender and have your pre-approval in hand, now what? Let’s talk a little bit about a few things you can do to prepare further for your home purchase and a few things you can expect along the way.

We believe that with a large amount of inventory to choose from in the Smoky Mountain region it is important for you to start by making a list of your needs/wants in your future home. This list should include number of bedrooms, location, type of view and any other items that are important to you. Will the home be a second home or investment? If so will you be using it as a vacation rental? This will play a factor when your agent is helping you to locate a home and needs to help you analyze rental income history of prospective property.

Once you have narrowed down your criteria let us know the most important characteristics your future home needs to have. This will assist us in setting you up to automatically receive listings that may be of interest, letting you know as soon as we come across a home that may fit the bill and also in preparing for your first meeting to view homes.

When the time is right we will make an appointment to view property. You will want to bring along the list you have created as well as a notepad or electronic device to use for jotting down notes about homes you see. This will come in handy at the end of the day when houses seem to be blending together. You will know when you step in to the perfect home. When this happens be prepared to write an offer. The Smoky Mountain market is moving pretty steadily with a large number of buyers in the market. Remember, if you are rating a house at an 8, 9 or 10 someone else probably will too. This is where your pre-approval letter comes in to play because:

*Being pre-approved may expedite the acceptance of your offer to purchase. Many sellers will not respond to an offer to purchase without a pre-approval letter. In the meantime, they can continue to consider other offers.  

 *You will be in a much better negotiating position with a pre-approval in hand especially in the case of multiple offers on the same property.

Once you have identified that perfect Smoky Mountain home and are ready to make an offer we will assist you in preparing the offer by providing current market data to detail what the pricing trend for similar homes is indicating, thoroughly going through the required documents for your offer then preparing it and presenting it to the seller’s agent to begin your negotiations.

With a little bit of preparation and the guidance of our dedicated real estate team the journey from pre-approval to accepted offer will be much easier to navigate. As you are working on your list take a look at our website and get a feel for all that the Great Smoky Mountains have to offer.

Here are a few of my featured properties:

Wears Valley Dream Come True You’ll notice the unusually high quality construction from the moment you pull in the driveway. Type: Single Family Home Location: Pigeon Forge Price: $597,000 Get more information >

 

Unbelievable Price On A Mountain Home Opportunity knocks with this can’t be beat price on a Smoky Mountain home. Just minutes from Ober Gatlinburg & tucked away on a wooded lot with level parking. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $129,900 Get more information >

 

Pigeon River Right Outside Your Door! This remodeled riverfront home is a sure to please. With the calming sounds of the Pigeon River right outside your door this completely remodeled home complete with sauna and hot tub are sure to take the stress away! Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $289,900 Get more information >

 

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