My question is I have an offer on the table to buy a piece of Commercial Real Estate, I put 10k earnest deposit on the Purchase Agreement, but they won't send back a signed purchase agreement until I have a pre-approval, and my Business Banking Officer says he can't get the ball rolling until there is a signed Purchase Agreement. He is also saying that the bank he works for doesn't do pre-approval on Commercial Properties, and neither side will budge, big bank vs. little Brokerage firm. I am inclined to believe that the Brokerage lady is stalling so she can get full commission on the place, because I have LOI from the bank, and my earnest deposit would make me believe that I was a serious buyer. Any advice would be greatly appreciated.
Sounds like all you would need is a proof of funds in order to secure a signature. Most lenders should be able to get you that with minimal verification of funds