Real Estate Questions, Answered
Pre-qualification is the lender saying, “Based on what you told us, you probably qualify.”
Pre-approval is the lender saying, “Based on what we verified, you qualify up to X.”
Here’s the real difference, in plain English:
Pre-qualification (quick + loose)
1. Usually a short form or phone convo.
2. Based on self-reported income, debts, assets, and credit (sometimes a soft credit pull).
3. Gives you a rough estimate of what you might afford.
4. Not strong for making an offer in a competitive market.
Pre-approval (verified + serious)
1. You submit documents (pay stubs, W-2s/1099s, bank statements, etc.).
2. Lender runs credit (often a hard inquiry).
3. You get a pre-approval letter with a purchase price/loan amount.
4. Much stronger when you’re writing an offer, because the lender has actually checked your file.
Quick rule
If you’re just browsing and planning: pre-qualification.
If you’re ready to tour and offer: pre-approval.
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Associate Broker License ID: 647102Bunmi Akinyosoye is an Associate Broker and Real Estate Advisor licensed in the District of Columbia, Maryland, and Virginia. She specializes in negotiation, project management, deal structuring, and transaction management, helping clients move through the real estate process with clarity and confidence. Known for navigating complex transactions and securing favorable outcomes, Bunmi leads with integrity, strong communication, and a calm, solutions-first approach.
She holds the Real Estate Negotiation Expert (RENE) certification, which underscores her expertise in negotiating and managing complex real estate transactions and and the RCS-D™ designation (Real Estate Collaboration Specialist in Divorce), equipping her to support clients through high-stakes transactions and sensitive life transitions with professionalism and discretion. Additionally, she has earned the Resort and Second-Home Property Specialist (RSPS) and Seniors Real Estate Specialist (SRES) designations, demonstrating her ability to cater to diverse client needs. And, as a Certified Luxury Home Marketing Specialist, Bunmi ensures every transaction, even with the most discerning clientele, is handled with exceptional care and service.
Her commitment to continuous professional development is evident through her participation as a 2022 Project REAP Fellow, reflecting her dedication to staying at the forefront of commercial real estate innovation. Bunmi also holds a Master’s in Business Administration from Trinity Washington University, further enhancing her ability to provide expert guidance in real estate.
Bunmi looks forward to becoming your trusted real estate resource!
+1(202) 650-8826 bunmi@realcityliving.com7067 Columbia Gateway Dr, Columbia, MD, 21046, USA
https://beacons.ai/realcityliving
WORK WITH US
BUYER SERVICES
I help homebuyers and investors purchase with clarity, confidence, and a smart plan. For buyers, I provide a step-by-step process that includes a strategy consult, tailored home search, tour scheduling, competitive offer writing, and strong negotiation on price and terms. I guide you through inspections, repair requests, appraisal issues, and all contract deadlines, while coordinating with your lender and title company through closing. For investors, I support deal-focused searches, comp and rent guidance, offer structuring, and risk-based due diligence, plus practical support around rehab planning and acquisition timelines so you can move quickly and buy right.
SELLER SERVICES
I help sellers price correctly, prep strategically, and market professionally to attract strong buyers and maximize net proceeds. My services include a detailed pricing analysis, a clear prep and staging plan, professional marketing, and full management of showings and feedback. I negotiate offers and terms to protect your bottom line, then manage every step from contract to closing including inspections, appraisal issues, repair negotiations, and coordination with title and other parties for a smooth sale.