Is Pre approval necessary?
I currently have closing in a couple of weeks on my second investment property. My father wants to get into real estate and we put an offer on a house. This realtor that I did a couple walk throughs with wants me to get a Pre approval letter but I'm leery in doing this because of the credit pull that will occur when I'm still in closing on another house. I'm wondering if Pre approval letters are really necessary? I've already sent realtor bank statements showing we enough funds he's already submitted our offer and they came back with a counter offer. Why is it necessary now?
This guy was also adamant about signing a buyer's agent contract which I had him amend to only properties that he's helped with. I've never have to do this on the two other properties and was starting to think it's this agent that's "trying to help me out". I figured I'd ask the bigger pockets family on what some of you would do in this situation.
Any feedback would be greatly appreciated. Thank you!
