When a home seller receives an offer to purchase there should be one primary factor that is always considered first - and it is not price. This factor is whether or not the buyer is financially able to conclude the transaction. As a seller you have limited knowledge about who the buyer is or how reliable they may be. However, you do have the ability to insist that they demonstrate their financial ability.
Many buyers require financing when they make a home purchase and the financing approval process is quite intense. When a home buyer has made the effort up front to get pre-approved a statement from the prospective lender regarding the buyer's pre-approval status can be provided.
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