Pre-qualified buyers take uncertainty out of home saleHOUSE CALLS

A: Those buyers are wise to find out ahead of time how much they can probably borrow. That’s what’s known as prequalification.

It’ll be even better if they get preapproved, with a lender promising to give them a mortgage loan once they find a house that meets the lender’s standards. In either case, what they’re doing doesn’t involve your specific property at this point.

If and when they make an offer, you’ll have some assurance that they’re financially able to afford the property. That will take some of the uncertainty out of the negotiations. It really is a plus from your point of view.

Contract proves binding

even with signs on display

Q: I recently put an offer on a house with a deposit, and the owner accepted it. I called the agent several times to put a “sale pending” sign up, or to remove the “for sale” sign from the property.

I was told that until we close and money has been exchanged that the seller has the right to accept other peoples’ interest in the home. Is this ethical? — via e-mail

A: Until the transfer of the title, that house belongs to the sellers, who are free to do what they want with it. That would include deciding about signs and even continuing to show the place.

If someone else wanted to buy the house, the sellers could accept a “backup” contract from a buyer who was ready to wait around to see if your purchase, the one that had priority, fell through.

There’s always a chance something might go wrong. Perhaps you’d end up unable to get the required mortgage loan, for example, or have to back out for some other reason. Only then would a backup purchase contract go into effect.

Other would-be buyers pose no threat to you if you already have a binding contract. The “for sale” sign, and other lookers, won’t hurt you.

Timeshares can be

unloaded on charities

Q: I was reading the many problems people have getting rid of timeshares. I’m not sure if this will help, but there is some good information on options they may have at www.timesharetrap.com, including a list of charities that take timeshares. — J.S.

A: What makes me nervous are the outfits that offer to “buy” an unwanted timeshare and end up charging $1,000 or so for the legal work. Readers tell me they are then assured they can claim a capital loss on their income tax returns, which strikes me as questionable advice.

Fewer than three agents

should be contacted for sale

Q: I am considering selling my home. How many real estate agents would you advise me to contact? Should cosmetic improvements be made prior to an agent’s evaluation? — S.H.

A: I would suggest contacting at least three real estate brokerages, or more if you like. Call the ones who are active in your neighborhood, who are advertising property in your area and whose names appear on lawn signs.

It won’t matter a great deal whether small cosmetic improvements are made before an agent arrives, because professionals know to look beyond streaky windows and cluttered counters. They will base their estimates of probable sale price on more solid grounds. On the other hand, if you do the best doll-up you can before an agent visits, you may receive useful advice about more items you’ve overlooked.

Daughter’s house

troubles frustrate mother

Q: My daughter moved six months ago to San Antonio for her work. She has been looking for a home with a Realtor almost since she moved. I have also looked with her when I have gone to visit. Are we being too picky? I find the housing market of homes within her price range to be difficult. There are a lot of what appear to be “flip this house” do-it-yourselfers, homes never updated, homes with flagrant problems even before inspection and homes with very difficult land grades (driveways almost at a 90-degree angle). She is getting frustrated, and we feel guilty having the Realtor trudge on and on, but what are we to do?

The primo homes are swept up, it seems, while my kid is at work. — P.S.

A: Every real estate market is completely different, and I’m not qualified to judge San Antonio. Neither are you.

By now your daughter is probably an expert in her own price range there, and I’m sure something right is just waiting for her.

Perhaps she will have found it by the time this appears in the paper — I do hope so.

Edith Lank will personally respond to any questions sent to her at 240 Hemingway Drive, Rochester, N.Y. 14620 (please include a stamped return envelope), or readers may e-mail her at ehlank@aol.com. Please visit her Web site at www.askedith.com.