The Importance of a Preapproval Letter - 10/13/07 03:45 AM
It seems that since day one (just two months ago) of my real estate career here in South Lake Tahoe, experienced agents have stressed the importance of getting a loan preapproval letter early from buyers.  Asking for one, however, seemed awkward to me.  It seemed like I was asking them, "You don't really have enough money to buy a house, do you?  I want proof!"
I've learned from my latest buyer that I should always ask for a preapproval letter.  For sake of the buyer's privacy, I won't go into details from this transaction.  I will say, however, that if I had requested … (4 comments)