The fifth tip out of seven for selling your home faster and for more money in Central MN, is requiring that a buyer is prequalified with an underwriter before accepting an offer.
Hi, I’m Paula Quinn with RE/MAX Central. Requiring a buyer to submit a TBD underwritten approval or a desktop underwriter approval could save you a lot of headaches down the road.
I’ve seen many other agents have deals that blow up because an offer was accepted prior to a buyer being fully qualified to purchase a house. While it’s important to know that the buyer loves your home, it is also important that the buyers have the means to actually buy it.
Pre-Qualification vs Pre-Approval
When working on selling your home faster, there’s a big difference between a prequalification letter and an underwritten approval. A Pre-qualification will generally just say they are pre-qualified up to a certain amount. On the other hand, underwritten approval will be specific to a home and with more work done on qualifying. You want to ensure that an underwriter has actually seen W2’s, verified employment, bank statements, those types of qualifying documents for buyers. A pre-approval will specify your property’s address and the amount that they are offering.
For more information on selling your home faster and for more money OR on pre-qualifications and pre-approvals, please connect with me, Paula Quinn, at RE/MAX Central. Paula@remax-centralmn.com , (612)810-3907 , www.thePaulaQuinn.com