Cross qualification means double-checking

Dated: February 27 2021

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“Cross-qualification,” or having a lender whom I know and trust review the financial package of a potential buyer of my listed property, is a key strategy for protecting the interest of my selling clients. There are lenders in the marketplace who play fast and loose with their pre-qualification letters, so sometimes a buyer that looks solid during initial negotiation becomes disappointing when it’s time to deliver during escrow. Of course, there is no absolute guarantee that your selected buyer will succeed in closing a deal, but the risk of a buyers “failure to perform” can be reduced when a seasoned mortgage professional reviews documentation and asks probing questions of the buyers’ loan officer.

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DAVID DUNLAP

As a residential real estate executive with an extensive background in corporate marketing, I am able to apply unusually strong skills in marketing communications, e-marketing, strategic planning and ....

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