FAQs for Agents
What is included? Inspection Report, Preliminary Title Report, HOA/Condo Documents, Existing Owner’s Policy, Existing Survey, Municipal Lien Search, Insurance Analysis, Mortgage Analysis, Property Profile
How much does it cost? $600 for the standard PreQual. Additional services or larger homes will affect the price. Contact email@example.com for an exact quote.
When are services paid? At closing
Is a new survey included in the PreQual? No. The existing survey is requested from the seller and provided if available, as required in the Sales Contract.
Is a new Owner’s Policy issued? The existing owner’s policy is requested from the seller and provided if available, as required in the Sales Contract. After closing, a new Owner’s Policy of Title Insurance will be issued to the Buyer(s).
Does the PreQual precertify a home like a pre-certified car? No. The Property PreQual is a property research report that provides potential buyers with additional information on the property prior to submitting an offer. Furthermore, it satisfies specific seller requirements in the contract. The PreQual is for informational purposes only and does not act as any certification or guarantee.
How is a Property PreQual ordered? Create an agent account on propertyprequal.com. Once approved, you will have the ability to place PreQual orders from your personal dashboard. All fulfilled orders are archived in perpetuity.
What happens if the property does not close? As services are rendered with deferred payment, if the property does not close or closes at a title company not affiliated with Property PreQual, total invoice is due from the agent.
How is the inspection done for the buyer when there is not yet a buyer? Our chosen Inspection Partner completes the inspection for the buyer’s purpose. Because this is done, all applicable warranties and guarantees transfer to the buyer when the buyer accepts the inspection.
How does the inspection transfer to the buyer? The buyer and/or buyer’s agent are connected with the inspection provider as soon as the property goes under contract.