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Homeownership Terms to Know: Pre-Approval, Pre-Qualification & More

Windemere Buying

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. Homeownership Terms to Know: Rent-Back Agreement, Joint Tenancy & More Pre-Qualification and Pre-Approval What is pre-qualification?

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How Long Does a Seller Have to Respond to an Offer?

Redfin

Flexible move-out or rent-back options: Sellers who haven’t secured their next home may appreciate extra time to move or stay temporarily after closing. Proof of financing or cash offers: Pre-approval or proof of funds reassures sellers that you can follow through and the deal won’t fall apart.