value: Pre-approval Letters devalue like the dollar!
- 04/10/08 01:25 PM
As the value of the dollar continues to crumble so too does the value of the pre-approval letter. For a long time we wrote, as Brokers, a pre-qualification letter and we gave that to the consumer. This letter was the letter that they would show to their Real Estate agent and it would accompany the offer. Then the boom came and Real Estate agents were swamped and so were we so the need for a PRE-APPROVAL letter became the dominant force. Let me pause for a moment and explain the difference. A pre-qualification letter can be given to any walking soul … (20 comments)
This blog will contain information based on my thought s for the week. I am rather optimistic person so if you here pessimism in my blog usually I am making a point. I look forward to writing and reading many blogs.
As the value of the dollar continues to crumble so too does the value of the pre-approval letter. For a long time we wrote, as Brokers, a pre-qualification letter and we gave that to the consumer. This letter was the letter that they would show to their Real Estate agent and it would accompany the offer. Then the boom came and Real Estate agents were swamped and so were we so the need for a PRE-APPROVAL letter became the dominant force.;)
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