Redfin

SEPTEMBER 2, 2020

If you have been pre-approved for a specific amount, the house may not appraise for a higher price bidding wars often get to. If that’s the case, the bank could reject your mortgage. 1) For real ammunition, get pre-approved for a mortgage. Hold firm to your budget and walk away if necessary.

Pre-approval 78

Pre-approval Loan contingency Agents Banks 78

HomeLight

AUGUST 31, 2021

A cash offer simply means that a buyer already has the funds available to buy the house and can pay for it without securing a mortgage loan. From the seller’s point of view, it doesn’t make much difference whether the cash comes from the buyer’s personal bank account or from a mortgage loan. Though you can (and should!)

Due diligence 106

Due diligence Inspection Pre-approval Pre-qualification 106

HomeLight

MARCH 23, 2022

If they have underwriting approval, versus just a preapproval, they’re a much stronger buyer than someone with just a preapproval letter. Once you’re preapproved, your offer on a home is more likely to be accepted because you’ve made it further in the mortgage approval process. Only include essential contingencies.

Pre-approval 105

Pre-approval Marketing Inspection Finance 105