Want Your Dream Home? What Buyers Need to Know

Are you in the market to buy a home? Well experts in Richmond are all saying that the Richmond market is hot, and we haven't even technically made it to the first day of Spring yet. This should be very exciting news to anyone getting ready or thinking about putting their home on the market. But, you see, that's the problem. Richmond has lots of buyers who are ready, but sellers haven't gotten that memo yet. That means that competition for that home you are dreaming about may be fierce.

So, how can you make that deal happen? How can you as a buyer, make yourself attractive to a seller? Well the quick answer is, do not just get a pre-approval when making that trip to your mortgage company. Go the extra step and get a loan commitment. A loan commitment means that you have gone through the underwriting process. It takes about 2 weeks compared to the 2-3 days for pre-approval.

However, the benefits of having that extra ammunition are far worth the extra time and effort. If there are several offers on the table for that home of your dreams, having a loan commitment can be what helps a seller choose you. Make that deal and happy house hunting! Check out this great video for more information.