$5,000 Seller Guarantee

iQRATE Mortgages $5,000 Seller Guarantee: Accept Offers with Confidence!

In today's competitive market, sellers want certainty. Buyers financed by iQRATE Mortgages gain a significant advantage with our $5,000 Seller Guarantee. This program assures sellers that our fully verified pre-approvals are reliable when the buyer proceeds to close their loan through iQRATE Mortgages. If we issue such a pre-approval and then fail to close the loan due to an error on our part, we'll compensate the seller $5,000, provided the buyer intended to close with us.

How It Strengthens Offers:

• For Buyers: Makes your offer stand out, showing the seller your financing is backed by our commitment.

• For Sellers: Reduces the risk and hesitation often associated with financing contingencies, allowing you to accept an iQRATE-backed offer with greater peace of mind, knowing the financing commitment and this guarantee are tied to the buyer completing the loan process with us.

Our Guarantee to the Seller:

iQRATE Mortgages will pay the seller $5,000 if all the following conditions are met:

1. iQRATE Mortgages issued a fully verified pre-approval to the buyer (meaning income, credit, and assets were reviewed and verified by underwriting according to standard guidelines prior to the offer being made).

2. The seller accepted the buyer's purchase offer based on this iQRATE Mortgages pre-approval.

3. The loan fails to close solely and directly due to an iQRATE Mortgages processing or underwriting error.

4. A formal loan denial letter is issued by the lender, stating the reason for the denial aligns with an iQRATE Mortgages error.

5. Crucially, this guarantee is contingent upon the buyer proceeding with and intending to close their mortgage loan for this specific transaction through iQRATEMortgages. If the buyer withdraws their application from iQRATE Mortgages or chooses to close their loan with a different lender for any reason, this guarantee becomes null and void.

When This Guarantee Does NOT Apply (Exclusions):

This guarantee is specifically tied to iQRATE Mortgages' performance after issuing a verified pre-approval and the buyer's commitment to close with us. It does not cover situations outside our direct control or if the buyer switches lenders, including but not limited to:

• Buyer Switches Lender: The buyer elects to obtain financing from another lender after the offer is accepted.

• Borrower-Related Issues: Changes in the buyer's financial situation after pre-approval (e.g., job loss, new undisclosed debt, credit score drop), misrepresentation by the buyer, or failure to provide necessary documents promptly.

• Property-Related Issues: Problems with the property itself (e.g., appraisal value comes in low, title defects or liens, significant inspection issues, inability to obtain homeowner's insurance, HOA complications).

• Third-Party Delays/Issues: Delays or failures caused by third parties (e.g., seller-side delays, issues with title companies or appraisers not related to iQRATE).

• Market Changes: Changes in lending guidelines or loan program availability after the pre-approval was issued.

• Mutual Agreement: If the buyer and seller mutually agree to cancel the contract for reasons unrelated to the financing denial or the buyer switching lenders.

• Force Majeure: Unforeseen events like natural disasters, government shutdowns, etc.

How Sellers Can Claim the Guarantee:

1. A loan denial letter citing an iQRATE Mortgages processing or underwriting error as the sole reason must be issued (and the buyer must not have switched lenders).

2. The seller must submit a written request for the guarantee payment to iQRATE Mortgages, along with a copy of the denial letter and the terminated purchase contract, within 30 days of the loan denial.

3. Upon verification that all conditions are met (including the buyer not switching lenders prior to the denial), iQRATE Mortgages will issue a $5,000 payment to the seller within approximately 14 business days.

Important Terms & Disclaimers:

• A pre-approval, even verified, is not a final loan approval or commitment to lend. Final approval is always subject to satisfactory appraisal, title, and final underwriting review.

• This guarantee applies only to purchase transactions for eligible property types where the buyer applies for and intends to close their financing brokered by iQRATE Mortgages.

• The seller is solely responsible for any tax implications resulting from receiving the $5,000 payment. Consultation with a tax advisor is recommended.

• This program is non-transferable.

• iQRATE Mortgages reserves the right to modify or discontinue this program at any time, except for transactions already under contract with this guarantee referenced.

Make Your Offer Stronger!

Buyers: Ask your iQRATE Loan Officer how our $5,000 Seller Guarantee can help your offer win!