HomeLight
APRIL 26, 2023
The first due diligence you want to do is make sure they have proof of funds ,” Graham recommends. You don’t want to find out two days before closing that the loan didn’t come through and the deal falls apart after you’ve already moved out of your house. Require everything in writing.
HomeLight
NOVEMBER 23, 2022
You may also want to learn what issues appraisers for government-backed loans will flag and which could delay closing (for example, lack of GFCI outlets) and take care of those things ahead of time. “We So keep in mind that your own appraisal is not a guarantee of how much a buyer will pay, nor how much a bank will approve.
HomeLight
DECEMBER 6, 2022
She cautions that buyers can get a pre-approval letter online that’s not worth the paper it’s written on. So your due diligence should include contacting the lender to ask about the type of financing and whether the buyer has the qualifications to be approved for a loan.
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