1. Negotiate a better Price – If you are leasing office space having your financials in order gives the landlord confidence by being reassured that you will be a good credit tenant who pays rent on time. The more comfortable the landlord is with your financials situation the more concessions they may be willing to give.
If you are buying office space getting pre-approved gives the seller confidence by being reassured that financing should not be an issue
2. Reduce Stress – You will know what terms you need, as well as whether or not you want to ask for down payment or closing assistance.
3. Save Time – You will avoid looking at office spaces that are more expensive than you can afford.
4. Avoid Heartache – You will avoid falling in love with an office only to find out that you can qualify for a loan or afford the lease payments.
5. Get an overview of your credit – If you have any credit issues it’s better to know up front.