Work With Pre-Approved Buyers
It can be difficult for a seller to discuss financial qualifications with a prospective buyer. Many buyers have been pre-qualified, which means they have spoken with a lender and discussed their qualifications. Based on that information, a lender will give the buyer an idea of how much of a loan they qualify for.
When you entertain offers, you'll want to make sure the buyers have been pre-approved as well. This means they have actually applied for a loan. The lender has checked their credit, verified their employment, and often has verified that the buyer has sufficient funds to close.
If the offer you accept is from a pre-approved buyer, then about the only item left to complete is the appraisal. A pre-approved buyer is a stronger buyer. Pre-approval can also cut days, even weeks off the closing process.
If you're currently selling your house For Sale By Owner, or thinking about it and have any questions about financing or working with buyers, feel free to call or email The Davidson Team.
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