Real Estate Myth 8

This is a continuation of a series of posts inspired by a conversation with an acquaintance who revealed a good deal of ignorance about the real estate profession. Because I think an educated market benefits everyone, I intend to debunk as many myths as possible. I hope you find this information useful. Please feel free to comment!

Myth #8: It doesn't really matter if I get pre-qualified or pre-approved for a loan. I can do that when I find the home I want to buy.

FACT - It really does matter, and it gives you better marketability. 

Sellers generally do not want to take the risk of accepting an offer from an unqualified buyer. When you are head-to-head on multiple offers, the seller will give much greater weight to a pre-approved buyer. For starters, talk to your lender or call your Realtor for references.