Even if your income and credit is fantastic, there is always a possibility the lender or insurer will not accept the property. Some examples of why a lender will not accept the property can be the valuation, deficiency with the structure or materials in the structure, such as type of insulation, electrical, and plumbing. It is very important that buyers understand that if they cannot complete their subject free offer purchase there may be serious ramifications such a losing their deposit. Also, they can be taken to court and sued for damages if the sellers feel they have lost out on other offers and suffered a loss due to the delay of the sale of their home. It is very important to understand that a pre-approval is only a rate hold.

Mortgage Broker Rob Fuccenecco

www.campbellrivermortgagebrokers.ca

Peak Mortgages -NI Mortgages 250.830.8232 fugi@telus.net