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lowside67 · 03-03-2016, 08:48 PM

You can easily go get pre-qualified for a mortgage, it's not an absolute guarantee that the place you are going to choose but it's a good start. A no subject offer does not mean you have to have the money in cash, it means once they accept the offer, you are committed to buying it, and theoretically not being able to close could allow them to sue you.

However, in this market, if you make a no subject offer with a deposit and couldn't complete, they would take your deposit and then sell it to the next guy in a few days. It's silly but there is actually less risk in MAKING no subject offers when the market is this crazy.

Mark

03-03-2016, 08:48 PM	#5201
lowside67 Old School RS Join Date: May 2004 Location: Port Moody Posts: 4,641 Thanked 4,157 Times in 1,262 Posts Failed 130 Times in 80 Posts	You can easily go get pre-qualified for a mortgage, it's not an absolute guarantee that the place you are going to choose but it's a good start. A no subject offer does not mean you have to have the money in cash, it means once they accept the offer, you are committed to buying it, and theoretically not being able to close could allow them to sue you. However, in this market, if you make a no subject offer with a deposit and couldn't complete, they would take your deposit and then sell it to the next guy in a few days. It's silly but there is actually less risk in MAKING no subject offers when the market is this crazy. Mark __________________ I'm old now - boring street cars and sweet race cars.