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Property Q&A in Yerington : Real Estate Advice

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  • Home Buying3
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Activity 2
Wed Dec 18, 2013
Toni Crabtree answered:
This looks like a Google Map mistake to me. If you need the services of a REALTOR, please call me, Toni Crabtree at Smith Valley Realty, 465-2450.
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Sun Feb 12, 2012
Maggie Reese answered:
Almost all offers have to have either a letter of pre-approval for the loan or a statement from a bank showing the cash amount to purchase is available. Especially in a short sale or bank-owned situation, if the bank accepts the offer and takes the property off the market, they need to be sure that the buyer is qualified to move forward.

Getting a loan is not as easy as it once was. A number of my recent clients were sure they would qualify and wanted to to go shopping, but when they contacted the mortgage companies, they didn't qualify. In a cash purchase, the bank needs to know the money is in actual cash - not stocks or other instruments that can take time to turn to cash - not to mention that with an unstable stock market, what is worth a certain amount today may not be worth that much tomorrow!!

I hope this helps answer your question.
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