Mortgage Approval – Don’t Forget Your House or Condo Also Needs to be Approved!

George O’Neill discusses why he recommends all his buyer clients include in their offers of purchase and sale a clause to ensure their offers are conditional upon arranging suitable financing, even when the client has already been pre-approved. Banks and mortgage companies also need to approve the house or condo being bought, so it is not enough to just get pre-approval and assume the sale will go through as planned. Pre-approval is step 1, while getting the property approved is step 2. To learn more or to voice your opinion please feel free to contact George@GeorgeONeill.ca or leave a comment on this blog post.

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