Pre-qualification vs. Pre-approval

[VIDEO TRANSCRIPT] This is a pre-qualification letter. This is a pre-approval letter. Now, as a home seller, one of these documents has the potential to make you very happy if it accompanies an offer to purchase your home. And the other document? Well here at the Julie Hall group we have a very specific process for how we deal with pre-qualification letters...

Pre-qualification and pre-approval are not the same thing. A lot of times a buyer can phone up a lending Institution and simply by providing their debt, income, and assets, can have a pre-qualification letter generated… without any verification.

Pre-approved Home Buyers

Whereas a pre-approved buyer has formally applied for the loan. The lender has dug deep into their financial history. Credit checks have been run. And the lender has made what's called a “conditional commitment” to finance the purchase.

So you tell me, who would you rather take your house off the market for? I know who I would choose.

Hey, my name is Jason Patton and I'm the listing specialist with Berkshire Hathaway HomeServices, The Julie Hall Group. We help people buy and sell houses in Kosciusko and all the surrounding counties and we would love the opportunity to earn your business. please give us a call at 800-218-8195 or email us at sold@juliehallgroup.com. Thanks. I hope you found this information useful, and we hope to talk to you soon.

The Julie Hall Group specializes in northern Indiana homes for sale. Call us today and let us know how we can help.