Smart Moves for Seniors

An Open Resource and Meetingplace for Seniors Thinking About Moving On With Their Lives and provided by Lois Patton, Licensed Real Estate Salesperson and Certified Buyer Representative with Albany Realty Group, Albany, New York. Also visit us at www.albanyrealtygroup.com or call 518-459-4564.

Thursday, July 20, 2006

Qualified buyers are those who are preapproved for a mortgage up to a certain limit. These are the buyers you seek to interest in your property. You may receive offers from buyers who are not prequalified but tell you that they are able to obtain a loan for the required amount or that they will be approved for it, but, in fact, you run a great risk by engaging in conversations and dealings with buyers who are not prequalified. You may, for example, sign a purchase agreement with a buyer who is not prequalified, and subsequently your deal may "fall through" because they cannot deliver on their claim of ability to purchase. In the meantime, you have had your property off the market for a period of time and in that time you may have lost an opportunity of selling to those who would have been able to purchase and "make good" on the deal.

A licensed real estate professional can make certain that only prequalified buyers review and present offers on your home. That alone can save you time and money in the process. Give us a call. We have buyers who are prequalified and looking to buy.

Have a great day!

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