If you have a bank statement in your name showing you have the cash, I doubt the pre-qualification will matter.

His letter is reprinted in a real estate book I have.What some people do, including myself, when there is no agent in the transaction, is make a statement, usually in the escrow instructions, to the effect that "Seller is a licensee acting for his own account".

It is I have signed and read this statement and dated it or even if you didn't understand it that is still on you.It's very easy to have a form drawn up stating that no commission will be owed if your sister chooses to buy your property.

When you invest in commercial properties or have a real estate business like J Scott's, you will be required to have personal financial statements for lending purposes.

Received a description of a house and dont know this statement: "has newer windows three with bb holes" also this statement is a mystery for me: "updated electric ran no plug ins or fixtures in spots".Even with translator I have no clarity.Thanks in advance again.

I don't believe any of these things is inherently bad...what's bad are the people managing the money...the politicians.Most people here wouldn't rent to someone who had a bankruptcy, foreclosure or bad credit score, but we'll happily elect politicians who don't know the first thing about economics, money management or reading budgets/financial statements.

Prefer to do this without relying on Seller's statements and not sure if their mortgage statement would have all of this info on there.

I base that statement on this next link:http://www.ncsl.org/default.aspx?

He doesn't really present any evidence for his statement other than vague warnings.But I bring it up here because maybe it IS an issue where you are.

This, in my expereince, is where the servicer may want a bank statement if using cash.They may also ask you to remove any verbaige stating you "will flip or resell the property" as has been my experience too.