FAQ: Why do I need pre-approval or proof of funds before I make an offer for a home?
This is a question that so many buyers ask that I have finally distilled the myriad of answers to a very simple and direct one. The seller to whom you are submitting your offer wants to sell his home. He is looking for buyers who can prove to him that they have the cash on hand or that they have a lender prepared to work with them to obtain a mortgage in the amount that is needed. As inventory is shrinking and multiple offers are being made on many properties, if yours does not include the means with which to pay for the home it will probably go to the trash heap. Simple as that.
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