"Conditions" can be a direct cause of Headaches and delays (excedrin #86)!

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When you say pre-approval, what does it mean?  Does it mean everything is a go.... or are there still conditions that have to met? What is the missing from the PRE-approval letter that you should know and be working on??

C  O  N  D  I  T  I  O  N  S!  ** this is really the gut of the loan.  If you can't meet the conditions.. guess what? You won't have a loan (at least not with that lender).

Ask your loan officer to get you a clear understanding of what conditions have to met before you can fund.  See which ones are directly your responsibility to do prior to close and get moving on them.  You will be so glad you did.  If you do not... You can hold up the loan/purchase and you even have to cancel it or get it canceled on you!

Lender's approvals comes with conditions & Possible Headaches if not handle right away!

Conditions can cause a delay or a "no go".  It is important for the borrower to find out what the lender's conditions are and get to working on them immediately.  If it is "appraisal" then we know that is out of the control of the borrower, but if it is something about the borrower's debts owed... it is up to the borrower to handle these conditions. If it is "termite report and/or clearence" that is not something the borrower have to worry about - the loan officer will handle.

But if it is something an old bill that needs to be paid or cleared up.... get on it.

If it is a lien or judgement on your credit ... better get on it - might take a while to clear it and could hold up the escrow.

And if it is a child support lien >>>>>>>>>>>>>>  borrower you'd better get a move on it, because it will take a while to clear a child support lien whether it is paid or not.  Actually, if it is not paid.... you may have a huge headache!   The county does not move fast, but they do have a procedure and guidelines to follow.

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Check out: Real Estate Terms/Definitions.  And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our consultations are free.  Our aggressive marketing plan includes on-line listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.