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Written on November 23rd, 2015

South Surrey/White Rock Real Estate

During current market conditions, with many multiple offer situations on homes, sellers will only consider offers, where the buyers can produce documentation from their broker or finance company to confirm, they have a Mortgage Pre-Approval.

A number of finance companies, will not review a buyer’s income or down payment documents, until after an offer is written. This causes a lot of work and disappointment, when a buyer has chosen a home, then their finance company turns them down for the mortgage.

Solution: work with a season’s mortgage broker or ensure your finance company provides you a mortgage approval in writing before you start the process, to submit with your real estate offer.

The seller will take your offer more seriously, and may even accept a lessor price.

For more information on real estate, mortgages or a pre-approval, feel free to give us a call: 604-889-5004 or info@WalkerRealEstate.c

Click here to view full article from Mortgage Broker News