Why Have A Pre-Approval Letter?
When making your offer the sellers are more willing to give you what you want to pay for the home if we attach a pre-approval letter with your offer.
This is the first question the sellers will ask me when we submit our offer (if you have talked with a lender and are you qualified to buy their home).
One of the main reasons they do this is if they accept your offer and you are then not able to buy the home due to financing the sellers will have taken their home off the market for 1 or 2 months. It is very important to let them know you are pre-qualified. You and I know you will be able to buy the home but the seller does not know anything about you and will want to play it safe.
Having a pre-approval letter is like having the cash in your pocket to buy the home. This letter will be a powerful tool for us to have during negotiations.
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