PreApproval Letter Before an Offer Can Be Made?

[Kaelin Stewart]

I am making an offer on my first rental, the agent says I need $500 Ernest money, and a pre approval letter or proof of funds before I can even make an offer, I know the Ernest is common but is the proof of funds/preapproval also necessary, or is there a way around this?

Thank you!!

[Seth Ferguson]

The letter is a good way of showing the seller you're able to close on the property and have your ducks in a row. Barring an actual letter, having something from your lender stating you're able to get financing would make the seller more comfortable. Comfy sellers are easier to work with.