Summit Getaway
Your Summit County Colorado Connection
Your Summit County Colorado Connection
Pre-qualification is an estimate of how much you can
afford in a mortgage payment. It is based upon the
information provided by the borrower, which will later be
subject to the approval process and additional information,
including a credit report, appraisal, and income verification.
The information provided by the borrower is not routinely
verified as part of the pre-qualification process.
Pre-approval is a firmer commitment on behalf of the mortgage company. Obtaining pre-approval is a more formal process that includes a credit check and employment verification. The mortgage company does all the work of a full approval except for the appraisal and title search.
Pre-approval is a firmer commitment on behalf of the mortgage company. Obtaining pre-approval is a more formal process that includes a credit check and employment verification. The mortgage company does all the work of a full approval except for the appraisal and title search.
Buyer's Agent - A buyer's agent works solely on behalf of
the buyer and owes duties to the buyer which include the
utmost good faith, loyalty and fidelity. The agent will
negotiate on behalf of and act as an advocate for the
buyer. A separate written buyer agency agreement is
required which sets forth the duties and obligations of the
parties.
Transaction Broker - A transaction broker assists the buyer or seller or both throughout a real estate transaction with communication, advice, negotiation, contracting and closing without being an agent or advocate for any of the parities. No written agreement is required.
Transaction Broker - A transaction broker assists the buyer or seller or both throughout a real estate transaction with communication, advice, negotiation, contracting and closing without being an agent or advocate for any of the parities. No written agreement is required.