Windemere Buying

MARCH 1, 2023

Before you begin your home buying journey , it’s helpful to know about pre-approval, pre-qualification, and proof of funds, and the role they play in a real estate transaction. Pre-qualification and pre-approval go hand in hand, but one precedes the other. What is pre-approval?

Pre-qualification 100

Pre-qualification Pre-approval Proof of funds Loans 100

The Close

DECEMBER 29, 2022

If your clients are concerned about getting approved for a loan, you can remind them that a co-borrower agrees to back the borrower in a mortgage loan. This is when a homeowner turns a deed over to the mortgaging bank to avoid going into foreclosure. This is the amount of a property that a person (not the bank) actually owns.

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97

HomeLight

APRIL 26, 2023

“The first due diligence you want to do is make sure they have proof of funds ,” Graham recommends. A bank statement will help weed out people who are just looking around and don’t have the qualifications to purchase your house from legitimate buyers who can obtain financing. Require everything in writing.

MLS 68

MLS Agents Sales Proof of funds 68