Contact a lender before looking at properties that you wish to buy. Ask them to ‘pre-qualify’ you. This fairly brief process should allow your lender to give you an idea of what you can afford. Equally as important, they can give you a ‘pre-qualification letter’ which you can include when making offers and which will make you more attractive to sellers.

Tip 2

Before making an offer, have a firm grip on the upper dollar limit you are willing to go to during the negotiation process. It is easy during a negotiation to get carried away with the excitement of ‘winning’ the property. Having a clear idea of your financial goals will help you keep clear of over-committing financially.