12 Jan, 2009
Being Pre-Qualified Makes Your Bid Better
Posted by: Kimberly Edwards In: Auction Home Resources
When we accept a bid for an auction home, we not only consider the amount of the bid, but we also take into great consideration the terms of the bid.
Depending upon the amount of your bid, your down payment, how quickly you can close, just to name a few, may make your bid more attractive to accept.
Pre-qualification letters from your mortgage company also help to prove your ability to pay for the home.
Traditionally speaking, you probably think you have to have a good credit score to get a home mortgage loan, but we know that there are many mortgage companies out there willing to fund you for a home.
Also, there are many auction homes we put up that you would be able to get into yourself, even if you have any of these problems.
You may need a low down payment mortgage, for instance. There are still places you can go to to be funded.
If you happen to fall into the low-income bracket, you may still be able to acquire a VA or FHA Mortgage to fund your purchase.
Even if you do have a good down payment, and a reasonable or good credit score, you may be self-employed and be unable to provide adequate information to a mortgage company or bank to make them comfortable to provide you with funding.
No need to wrench your brain…There are places that provide Self-Employed Mortgages too!
I say all of this to re-emphasize the fact that having a pre-qualification letter from your bank or mortgage company makes your bid more attractive to us, and gives you a better chance of being the one chosen to award the auction home to!
* Remember: We provide “The Home You Never Thought You Could Afford, At The Price You Want To Pay”!
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I hope you find these Auction Home Resources helpful on Buy DFW Auction Homes! Until next time…
Be Prepared…Be Pre-Qualified,
Kimberly Edwards 
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