CHAPTER 8: Making Sure the Buyer Is Financially Qualified to Buy Your House

Devine, George
January 2011
For Sale by Owner in California;1/1/2011, p109
The article discusses how a house seller can determine the financial qualifications of prospective buyers in California. Credit, income and potential mortgage are the three primary factors to consider when evaluating the capacity of a buyer to purchase a house. Assessing a potential buyer's credit may be done through informal inquiries, asking the buyer to fill out a Credit Information Form or checking the credit history of the buyer. Also discussed are how buyers are being qualified by lenders for home purchase and the different types of mortgages.


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