Is a pre-approval required?

Question: Does the law require you to be preapproved for a realtor to take you looking at houses for sale?

Answer: While there is no law, it is common for sellers to not even consider an offer without a pre-approval or proof of funds. This is why 99% of the Realtors out there will not bother to show people homes unless they are pre-approved.

Pre-approval lets you, the buyer, know how much you can borrow while still remaining within a comfortable budget for your style of living.
Pre-approval lets the seller know that you can get the loan and that you are not wasting their time.

Let me know if you have any questions that you would like answered.