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MIAMI BEACH REAL ESTATE SELLER TIPS QUALIFYING A BUYER
Jamey: Hey, I’m Jamey Prezzi and I’m here with my partner.
Ognjen: Hi everybody, I am Ognjen Prezzi.
Jamey: We’re luxury realtors in Miami Beach Brickell-Downtown Miami and Coral Gables and
today we’re here to talk to you about how you can determine if a buyer is qualified
to purchase your property.
Ognjen: Absolutely. That’s excellent topic. The first way is a pre-approval letter. Now,
let’s make this clear. The pre-approval letter is different than the pre-qualification,
two big different things. Pre-approval letter is that somebody that
will probably call the banker or a lender and when they spoke with this person, they
give a lot of their financial details and based on this information, the lender or banker,
they just issue this particular letter – pre-approval letter. Pre-qualification is very very different.
It’s very general. It’s like you could just call the bank and give them like some
basic information and based on this on your phone conversation, they just give you like
some sort of letter.
Jamey: Yeah.
Ognjen: It’s very very different.
Jamey: It’s also really important too to have your agent or broker give – if a buyer
is making an offer and the offer is contingent upon financing, it’s very important that
someone call whoever issued that pre-approval letter and find out the details and how much
information was given and just to make sure that they are really strong buyer at the end
of the day and just to kind of delve deeper into that pre-approval letter.
Ognjen: Absolutely. And of course the second one which I’m sure you already know is the
cash. Cash is the king.
Jamey: Cash is king.
Ognjen: Absolutely.
Jamey: It’s always a king.
Ognjen: It’s always the king.
Jamey: In our market, cash is very important. And basically when you accept or cement a
cash offer, either side if you’re a buyer, you’re going to want to cement your cash
offer with proof of funds and if you’re a seller, you’re going to want to make sure
that you check and make sure that there is some kind of legitimate proof of funds issue.
Ognjen: Absolutely. Absolutely.
Jamey: So those are basically the two main ways that you can determine if a buyer is
qualified to purchase your property or if you’re cementing an offer to make sure that
the seller can take you very seriously. In our market, it’s very competitive so as
a buyer you want to make sure that you look like the best buyer out there and as a seller,
you want to make sure that you are taking qualified offers so when you take the property
off the market when it goes off to contract that you have time with a qualified buyer.
Ognjen: Actually that you want to make sure the property will close.
Jamey: Yeah.
Ognjen: That you’re actually going to sell the property -
Jamey: Yeah.
Ognjen: - not a last minute things fall through.
Jamey: Yeah. That’s true. So...
Ognjen: So if you have any questions – sorry Jamey.
Jamey: That’s okay.
Ognjen: If you have any questions, you can call us (305) 439-7511.
Jamey: Or you can read our real estate blog miamicitydiggs.com. Have a great day.
Ognjen: Thank you.