Most often the first step a Realtor takes when working with a homebuyer is to get the consumer Pre-Qualified or Pre-Approved with a lender. This process is used to determine your buying power and will target your home search to be within a affordable price range. Moreover a Pre-Approval Certificate together with a solid purchase agreement contract to the seller shows you’re a qualified and serious buyer that will likely not fall out of contract before the close of escrow. The number 1 reason why deals "fall out" of escrow is that the buyer is turned down for the loan amount needed to purchase the property. This is why a Pre-Approval Certificate is a great tool to help ease the concerns of the seller.
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Monday, August 14, 2006
How much house can I afford?
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