my pre approval letter is for 500k and im attemptting to buy a house listed for 240 which has been empty for 600 days on a bad street and vacant for 160k if the selling party knows how much im worth why would the seller even consider my low offer . i mean if the buying party ask for a pre approval letter do i have to provide it in order to put a bid in...it almost seem like a catch 22..i feel like my realtor might not even be presenting my offer in order to earn herself more cash by assisting the selling party to drive the price up in the transaction.....Heeeeeelp!!!!!!!
2007-08-15 12:28:13 · 4 answers · asked by djbenebulger 1 in Business & Finance ➔ Renting & Real Estate
also this is a bank owned property that was foreclosed on so its jus collecting dust
2007-08-15 12:31:31 · update #1
Anyone feel im bidding to low and wishing on a dream or has anyone ever seen a deal with those type numbers work?...also i realize i cannot contact you back to thank you indivually but thanks to you all i have recieved all great anwsers so Thank you all
oh yea thanks Bill gates for internet...lol
2007-08-15 12:54:11 · update #2
Just get a new pre approval letter for the amount you are offering....in this case 160k.
2007-08-15 12:36:00 · answer #1 · answered by Anonymous · 0⤊ 0⤋
you may get in touch with a loan broking provider or direct back rep (wells fargo or somebody). would not count in case you pass to or use Citbank. you will get one comparable day however the extra perfect letters are persons that have run your credit and completed some prognosis on your very own records already. It does no longer assure you in any respect. I good sign in case you are able to genuine pre approval letter. would not could desire to be the comparable financial corporation and the pre approval letter could come from a loan broking provider.
2016-10-10 07:39:40 · answer #2 · answered by ? 4 · 0⤊ 0⤋
they just want to know that you are financially capable and thus that they need not continue trying to sell the place.
you could probably accomplish the same thing by attaching a good faith deposit check for 32k --- 20% of your offer. They'd then check your credit and they'd be happy -- IF -- (of course) they decide to take 160k to get this dog sold.
2007-08-15 12:38:40 · answer #3 · answered by Spock (rhp) 7 · 0⤊ 0⤋
Get a letter that supports your offer...maybe slightly higher...they need not know what you qualify for... Your loan officer will be able to help you with that.
2007-08-15 12:45:37 · answer #4 · answered by NY PTK 4 · 0⤊ 0⤋