Real Estate Corner…
Q. We entered into a contract with someone who wanted to buy our home. The agent representing the buyer presented us with a “pre-qualification” letter from a lender. Today we discovered the buyer was rejected for financing. How can this happen?
A. You allowed the term “pre-qualification” to lull you into a false sense of security. The loan amounts referenced in pre-qualification letters are conditional on verification of income, employment, funds on deposit, credit report, and more. A lender can issue a pre-qualification letter after just a simple 10-minute phone interview with a prospective purchaser.
As a seller, your best vehicle for peace of mind would be a pre-approval letter accompanying the offer to purchase. A pre-approval letter is a firm commitment to lend money and is issued only after verification of the crucial financial items mentioned above.
If you’re thinking of selling your home in the next year, please call me at 756-9488 for important information that could save you thousands in the process, and avoid unwanted surprises like the sellers above experienced.
AND… if you’re thinking of buying or selling, and you just need a little helpful “guidance,” order one of my Free Consumer Reports highlighted in my Free Consumer Resources page inside this newsletter.
Trivia
Guess Who Won Last Month’s Trivia Question? The winner is…drum roll please: Mike Ratiachek of Hilbert (uncle of Cindy Hardy-thank you for that information –glad to know this is getting read by so many of my friends-it’s a small world) & Sandy Braun of Brillion were the first two people to correctly answer my quiz question…
Most Everyone Knows That Neil Armstrong Was The First Man To Walk On The Moon. But Who Was The LAST Man To Walk On The Moon?
a) John Glenn b) Buzz Aldrin c) Gene Cernan d) David Bowie e) Frank Borman
No need to call NASA, because the answer is “C,” Gene Cernan. Congratulations Mike & Sandy, you’ve won a $10 gift certificate to Hearthstone Village in Hilbert. www.villagehearthstone.com
Now…let’s move on to this month’s trivia question…
How Many Items Are In Two Baker’s Dozen?
a) 36 b) 26 c) 12 d) 24 e) 28
Call me right now with your answer! 756-9488
Most Everyone Knows That Neil Armstrong Was The First Man To Walk On The Moon. But Who Was The LAST Man To Walk On The Moon?
a) John Glenn b) Buzz Aldrin c) Gene Cernan d) David Bowie e) Frank Borman
No need to call NASA, because the answer is “C,” Gene Cernan. Congratulations Mike & Sandy, you’ve won a $10 gift certificate to Hearthstone Village in Hilbert. www.villagehearthstone.com
Now…let’s move on to this month’s trivia question…
How Many Items Are In Two Baker’s Dozen?
a) 36 b) 26 c) 12 d) 24 e) 28
Call me right now with your answer! 756-9488
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