What Is The Difference Between Pre-Qualification And Pre-Approval?

Getting pre-qualified or pre-approved should be your first step towards buying a home. Here’s what the difference is between the terms.

PRE-QUALIFICATION

Pre-qualification is the initial calculation done to estimate how much you are able to borrow from a mortgage company. Sometimes this is done by a mortgage banker/broker and it is also possible to receive a pre-qualification from an online lender. To receive a pre-qualification you will provide information about your income, debts and assets. Based on that information provided the lender will calculate an amount you can borrow. For a pre-qualification there is no verification done, the lender is only going off the information you provide. There is no guarantee the lender will make you a loan…

829 Views, 0 Comments

Are Sellers Required To Make Repairs Requested By The Buyer?

No. In some states a buyer provides the inspection report to the seller and the seller may be required to make any repairs notated on the report. In Texas a buyer is not obligated to provide the seller the inspection report and even if provided there is no requirement for a seller to make any repairs. However, a seller who rejects any repair amendment or refuses to negotiate any repairs risks the buyer terminating the contract if the buyer has an unrestricted right to terminate the contract and is within the termination-option period.   

When you are ready to list your home, contact Eric Peterson directly at 512-791-7473 or eric@koparealestate.com.

Have a Question?

Contact Us Now!

744 Views, 0 Comments

Avery Ranch Market Update for May 2019

In the 13 years I have been in the area this is the hottest I have seen the real estate market. The number of homes sold is not an indication of the market being poor. Instead, the number of sales is down for no other reason than less homeowners put their homes on the market in May compared to last year. Average sales price and the median price are both up almost 7.5% Average $/SF up over 16% compared to May 2018. The days on market increased but that due largely to one home that finally sold after being on the market for almost a year. The market is competitive for buyers. We were fortunate to help a buyer win out in a multiple offer situation with 10 other offers. Buyers should have an inexperienced agent to help craft an offer more likely to…

693 Views, 0 Comments

Market Update for Austin-Area

We saw strong first quarter sales with the number of home sales skyrocketing 15% in April. 

If you would like an in depth look at the Austin real estate market call/text  at 512-791-7473 or eric@koparealestate.com.

Have a Question?

Contact Us Now!

574 Views, 0 Comments