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re: House Sellers: How common is it for a seller to require proof of funds before even showing
Posted on 7/5/23 at 7:16 pm to threeputt
Posted on 7/5/23 at 7:16 pm to threeputt
I'm selling an investment property right now. I have had more than 1 bring a prequal letter then the bank is telling them no once they get started on the process. People obviously lying.
2
Posted on 7/5/23 at 7:18 pm to LEASTBAY
quote:
I'm selling an investment property right now. I have had more than 1 bring a prequal letter then the bank is telling them no once they get started on the process. People obviously lying.
Get a PRE-APPROVAL letter, not pre-qualification letter, 2 very different things.
Posted on 7/5/23 at 7:35 pm to LEASTBAY
quote:
I have had more than 1 bring a prequal letter then the bank is telling them no once they get started on the process. People obviously lying.
It isn’t necessarily the buyer/borrower being dishonest. I have mortgage brokers who’d give me a preapproval letter for pretty much anything, and I know they don’t do any credit/asset analysis.
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