Wondering why your buyer’s offer fell through? Sometimes, that pre-qualification letter their real estate agent showed you and promised would make them an eligible buyer wasn’t really worth the ink and paper it was printed on. Pre-qualifications are based on what the buyer tells the lender. Few of the buyer’s financials are verified and a pre-qualification letter pretty much states how much a buyer will hopefully qualify for. It’s pretty much a wish list for getting a mortgage. A good way to avoid the perils of a pre-qualification is to get a pre-approval, which goes one step beyond a pre-qualification. A pre-approval requires a credit pull, which includes the credit score and credit history of the buyer. Tax-Deferred Exchanges:

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