I have been receiving some offers on my listings lately that seem to have strong pre-qual letters attached, but as we progress through the transaction, I find that many deals are falling apart due to the lender's loss of programs, stricter underwriting guidelines, and general change in program guidelines that has occured as a result of the recent "scare" we keep hearing about. So, to ease the awkwardness in our relationship with our beloved lenders, I have devised this special non-committal pre-qual letter that says everything and amounts to nothing. That way, we have something to present at offer and can't be blamed if a deal falls through due to financing. It's a win/win. What do you think? :-)

 Enjoy!

To Whom It May Concern:

This letter is to certify that Mr. and Mrs. Smith have been pre-approved for a loan amount of 436,000.00. This pre-approval is based upon credit review and full loan application review which has been submitted by the borrower through our local branch.

Please be aware that the pre-suffix in the pre-apporval stands for preliminary, which when defined by Websters as: "preceding and leading up to the main part, matter, or business; introductory; preparatory..." and should in no way, shape, or form be considered a commitment that the borrower is actually approved for squat.

While we know that you'd like the assurance that Mr. and Mrs. Smith will actually be able to purchase the property in question, we'd like you to know that their actual ability to obtain a loan is contingent upon,( but not limited to), several conditions including: appraisal, verification of employment, debt ratio, the mood of the underwriter on the day the packet is submitted, and several hundred other pertinent factors which cannot be expalined in detail at this point in time.

In any event, we here at ABC123 Lending would like you to know that your comfort is of utmost importance to us. With this in mind, please take note that while our pre-approval letters may not be of value in helping to sell your listing, we are now printing them on this handy hypo-allergenic three-ply paper which can be used for another purpose, in the event your deal doesn't close. Notice the quilted softness and enjoy! In this way, we can assure you that a pre-approval letter from OUR company will always be useful for SOMETHING.

Regards,

Ms. Prea Qual, Senior Loan Officer

ABC123 Lending