Feb 17, 2015

Getting Pre-Qualification Letters From Coastline

So part of the process of putting your offers is getting pre-qualified by your lender so that the buyer knows you mean business. It’s similar to other credit applications where you report your income and present tax records, letters of employment, etc.

Once you get approved, you usually get them to write up a letter that's exact to your offer, not the maximum amount you’re approved for. Then if negotiations continue, you just request another letter for that amount. That way you aren't showing all your cards to the seller but still give them confidence you’re able to buy this property.

Posted in Land stage