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You know your buying power up front and can readily consider homes in the right price range

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You minimize the trauma of not knowing whether you qualify for the home of your dreams

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Seller will consider your offer to purchase more seriously

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If you find yourself in a bidding war for a home, sellers may decide to accept your bid instead of an offer from someone who hasn't started the mortgage process!

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You are in a stronger negotiating position with sellers if you have been pre-approved for a loan

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You can close more quickly