Getting Mortgage Approval
Once your offer has been accepted, the next step is to see your mortgage provider about finalizing your mortgage approval. If you've pre-arranged the mortgage, this stage is usually routine. Here’s what happens:
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Getting your Mortgage Approved
Who’s involved: You and mortgage provider
What happens: A copy of the accepted offer is sent to your mortgage provider and your lawyer for review. Your mortgage provider sends an appraiser to make sure the property is worth the selling price and can be financed at that amount. As a rule, the buyer must get fire insurance before completing the purchase.
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