In this video we're going to cover how a purchase contract works. Preapproval letters state how much a lender is willing loan to a borrower.You can put a lien on that property so that if they ever sell or refinance the property you might get paid. To do this, you first need an Abstract of Judgment. If you are adding someone as part of a credit repair or loan deal, it may be a scam. Seller may from time to time offer to sell to Bank certain negotiable Bills of Exchange due from the makers thereof ("Buyer" or "Buyers") to Seller. When you need to sell, you could consider getting a mortgage on your house as another source of financing for your buyer in Santa Clara. You have to use Conditional Deed of Sale wherein certain clauses should be added to the normal DOAS. Keep the bank guarantee and stipulate that the downpayment. But it doesn't mean contingent offers are much less common.