In some situations, a buyer puts in an offer on a home and they’re discovering that the seller already has lined up a potential mortgage lender for them, in an effort to help get all parties to closing smoothly and without delay.

“Some sellers are finding lenders willing to provide financing for an eventual sale even before they put their condos or co-ops on the market; they then add language to the sales contract requiring buyers at least to obtain preapproval from the seller’s preferred lender,” The New York Times reports.

The move is to help sellers avoid wasting time on buyers who can’t ultimately secure the financing on their own. The approach is similar to how developers secure a preferred lender for buyers to use, if they opt to.

“With a lender in place, the seller can add language to the sales contract that requires buyers to be preapproved by that lender,” The New York Times reports. “The buyer can still apply for a mortgage with another lender, but if that doesn’t work, they agree to apply to this source which we know will lend in this building,” The New York Times reports.

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