Redfin

JULY 30, 2025

This also includes setting aside funds for closing costs, unexpected repairs, and moving expenses. Get pre-approved for a mortgage and have cash ready One of the biggest signals to sellers that you’re serious is a mortgage pre-approval letter. Why pre-approval matters: It gives sellers confidence in your ability to close.

Earnest money deposit

HomeLight

APRIL 30, 2025

Instead, buyers are expected to perform their own due diligence, usually by hiring a third-party home inspector. The biggest cost is usually the real estate agents commission. However, choosing an agent based on personal relationships rather than qualifications can be a costly strategy.

Sales

RIS Media

OCTOBER 22, 2020

Evaluate your current credit situation and make a game plan to clean up your credit score, if needed, prior to starting the pre-approval process.” Have your buyers speak with different lenders to get the lowest possible rate, and have them ask questions about interest rate, down payment amount and estimated closing costs.

Pre-qualification

Realty Biz

MARCH 30, 2023

Keep an eye out for associated fees and other costs that you may encounter. Documentation and the Pre-Approval Process Pre-approval is a must for anyone looking to purchase a home. Be sure to have all of your documentation in order and ready to go before starting the pre-approval process.

Mortgages

HomeLight

AUGUST 31, 2021

submit your purchase offer with a pre-qualification or preapproval letter from a lender, these funds aren’t a sure thing until the loan is fully approved. Make sure you’re already preapproved for your loan (or go through pre-underwriting, if possible) so waiting for that isn’t a factor. Though you can (and should!)

Due diligence

HomeLight

JUNE 28, 2021

Due to the nature of how a home becomes a “HUD home,” purchasing one differs from the traditional homebuying process, and there are a few qualifications, special incentives, and risks that any savvy homebuyer should be aware of. Get pre-qualified with a mortgage lender. Qualifying for a HUD home. No problem!

Pre-approval

HomeLight

AUGUST 16, 2021

Go to your county’s office and ask for the pre-foreclosure list ,” he says. While all investors are looking for return on investment, most take a similar approach, slightly varying their target ROI: For Motes, he’s looking to see if he can purchase the property for a maximum of 80% of the ARV, minus the rehab costs.

Banks