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Updated over 6 years ago on . Most recent reply
Pre approval for every house?
I noticed that my pre approval has a price on it and I am getting one for each house I put an offer on. This slows me down because I have to rely on the loan broker to type these up for me as I find each deal.
I am concerned that if I present a general one with a price of say 100k and I offer lower, the seller will have leverage to try to go up?
What do you guys do for pre approval letters?
Most Popular Reply

- Real Estate Professional
- West Palm Beach, FL
- 13,509
- Votes |
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Get One, for the max you can be approved for. Thinking a seller will negotiate up because you "can afford it" is silly. Many cash buyers show a POF for $1M when buying $100k properties. Besides, I'd much rather sell a $100k property to someone approved for $200k as opposed to someone approved for exactly $100k.....better chance of them actually qualifying and closing.