Ed Montalvo with Living In Lenawee Realty wants to talk to you about pre-approval letters or proof of funds when submitting an offer and being competitive in a multiple offer situation.
If you are putting in an offer on a property it is imperative that you also include a pre-approval letter from your lender. This will give the seller a better ideal that you can get a loan for the amount that you are offering.
Also, if you are a cash buyer you will need to include with your offer proof of funds. That can be a letter from your bank stating that you have funds to cover the loan amount or a bank statement confirming sufficient funds in your account.
When providing these things, it makes you a more competitive buyer and makes your offer stronger especially in the current market when you are likely going up against multiple offers.
For more tips on negotiating multiple offers, call Ed at Living in Lenawee Realty at 517-605-2136
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