Kathy@TeamRukat.com
    (843) 267-2710

Kathy Rukat Smith, REALTORⓇ

Palmetto Coastal Homes

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Getting Pre-Approved for Your New Home Before Listing Your Current Home For Sale

You may think getting pre-approved for your new home before listing your current home is counterintuitive. I have run across a few scenarios over the years of selling real estate where getting pre-approved prior to to listing a home for sell would have really helped the sellers.

Getting Pre-Approved for Your New Home Before Listing Your Current Home

Here are some scenarios I have heard about or had happen to clients over the years of selling real estate:

  1. You have a negative mark on your credit report that you were unaware of. Getting pre-approved will not only help you find that negative mark but also give you time to correct the problem.
  2. You might not be able to qualify for as much of a loan as you thought you would be able to qualify for. Finding this information out before you list your home for sale gives you time to preview homes with your agent in your new price range. You can decide if you are willing, or able, to move into a property in the new price range. Sometimes staying where you are is the best option.
  3. You might not be able to qualify for a loan at all. There are many reasons why you may not qualify for a loan and most of them can be fixed with time. Imagine the stress of having your current home under contract and finding out you do not qualify at all for a loan. At that point, renting might be your only option. Renting can be tough if you have pets and could be more expensive than your current mortgage.

In order to avoid last minute stress, start with the end in mind. Give your lender a call, go through the pre-approval process and make sure everything is on track for your new home purchase. Should you not already have a relationship with a lender, I'll be happy to make some recommendations.

As always, contact me if you are interested in buying or selling in Murrells Inlet or the surrounding area or if you are interested in learning more about living at the beach.

Posted in: Financing, Home Selling Process, Thursday Tidbits, Thursday Tidbits 2021

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About

Kathy Rukat Smith with Palmetto Coastal Homes serves all the areas of the Grand Strand.

  • North Myrtle Beach
  • Myrtle Beach
  • Surfside Beach
  • Garden City Beach
  • Murrells Inlet
  • Litchfield Beach
  • Pawleys Island
  • Carolina Forest
  • Conway

 

Kathy Rukat Smith is a resident of Murrells Inlet and loves everything living at the beach has to offer. She has been selling real estate since 2004.

Kathy uses her local real estate knowledge, technical skills, local connections and strong internet presence to exceed your exceptions and help you succeed in the fast-paced Myrtle Beach real estate market.

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Kathy Rukat Smith with

Palmetto Coastal Homes

4214 Mayfair Street, Suite F, Myrtle Beach, SC 29577

(843) 267-2710
Kathy@TeamRukat.com
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