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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?
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. The associated contingencies , which come with additional risks for the seller, are where you’ll find most key distinctions between a cash offer and an offer backed by a mortgage loan.
If you’d like to connect with an agent today who’s connected to local cash buyers, HomeLight makes it easy and fast to find a top real estate agent near you with your preferred qualifications. Reasons to sell your house for cash. They need an out immediately.”.
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