SOME REAL ESTATE TERMS
Pre-qualification letter = 1. Just a letter from a mortgage broker
2. Review of all financial documents
3. See Pre-Approval
Pre-Approval = 1. Full credit approval
2. See Pre-qualification
Hard Loan Approval = 1. When lender has approved the loan in its’ entirety,
some funding conditions remain
Use the term Full Credit Approval for that
Buyers agent = 1. For the people buying the listed property
Sellers agent = 1. For the people buying the listed property
“Eliot (the realtor) is selling the property to the prospective purchasers”
2. For the people selling their property
Listing agent = 1. For the person selling their property
Listing Disclaimer for every Listing:
1. It is the responsibility of the Agent/buyer to confirm all information
2. Information is deemed reliable, BUT NOT guaranteed.