With home prices and interest
rates increasing, many buyers are having to stretch themselves financially to
buy a home, especially first-time buyers. Most purchase agreements allow buyers
to get out of the contract if they can't qualify for a mortgage, so be sure to
get some reassurances before you make a commitment to buyers. Most contracts now
require timely loan applications and pre-qualifying letters from the lender.
There is no way to be absolutely certain that
buyers will be able to obtain financing, but I will eliminate those who are not
financially qualified. As a real estate professional, I help buyers determine
what they can afford and whether there are financing alternatives that can
stretch their buying power. My training and experience enable me to resolve
difficulties quickly to avoid wasting time.