Peter Mohylsky.   Broker -BRIX REALTY, BRIX REALTY -DESTIN (Miramar Beach, Florida )

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Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Lender pre-qualification is less important to the offer than it is to me with the client. I need to know that once we do have the property and are ready to go that the borrower has made the loan application and provided what the lender needs to process it.

Second question, the preapproval (specific to the property) amount is not to exceed the offer amount unless you're making a full price offer. If I'm the seller's agent and they're low-balling us and qualified for more, then we're going to try to get more.

Dec 21, 2018 05:18 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

I require a pre-approval before ever even showing a property much less writing an offer.

Dec 21, 2018 05:15 AM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

While Sellers agents in our area expect you to have a prequel letter when submitting an offer Peter Mohylsky  I'd say it probably only gets done about 50% of the time. WHY, because of agent laziness and new agents may have fear of offending a new client by asking (ignorance).

Dec 21, 2018 06:41 AM
Maria Sapio
Keller Williams of Central PA - Carlisle, PA
Real Estate Agent- Carlisle, PA.

I require a pre-approval or proof of funds before showing a client property. If the pre-approval is higher than the offer price, the lender will draft a revised pre-approval letter for the offer price to be submitted with the offer.

Dec 21, 2018 06:37 AM
Debe Maxwell, CRS | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Only pre-approvals and in the amount of the Offer.

Dec 21, 2018 05:44 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Lender pre-approvals and proof of funds are necessary if you want an offer to be considered.  Each market is different and most buyers understand this these days. Proper preparation of the buyer and the documents involved are critical to a successful offer acceptance regardless of market conditions. 

Dec 21, 2018 05:58 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Prequel?  You mean prequal.  I had scripts for movies dancing in my head.  What Candice A. Donofrio and Corinne Guest stated. A

Dec 21, 2018 07:26 AM
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

We require a Pre-Approval letter.

Dec 21, 2018 07:51 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

    Pre-approval letter, with the amount stated on the offer.   If the letter gives a higher price than the offer, you will probably get countered (unless it's a full price offer).

      Good Listing Brokers insist on a pre-approval or proof of funds letter before taking a property off the market, or marking it in MLS as contingent under contract.  And you might be totally wasting your time, if the Buyer "thinks" that they can get the loan, but they have not gone through a pre-approval by a Lender.

Dec 21, 2018 07:07 AM
Peter Testa
Nationwide Homes - Danbury, CT

Regardless that some can get a letter easily a lot of these lenders are checking their income & credit atleast. It's standard to include a Prequal letter with your offer here. I would get the letter written for the amount they are offering, not more.

Dec 21, 2018 06:20 AM
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Before drafting offer- yes. I've had Pre Qual letters that worked fine. It depends on how much research and verification the loan officer has done before issuing it. Many pre approval letters also have contingencies. Amount is what they can afford when first issued. It can be adjsuted later if need be.

Dec 21, 2018 06:18 AM
Peter Mohylsky. Broker -BRIX REALTY
Miramar Beach, Florida - Santa Rosa Beach, FL

Thanks all for sharing you knowledge.

Dec 21, 2018 05:54 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I don't. I want a full pre-approval letter to submit with a contract for the amount of the offer. And I want one of those when I receive contracts for my sellers.

Dec 21, 2018 10:25 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

No.  Prequal letters are not acceptable. 

Agreed. They are not worth the paper they are written on. 

My standard of practice is approval with underwriting approval even before the buyer finds the home.  Yes, my lender provides such letters. 

Dec 21, 2018 08:13 AM
Jeanne Gregory
RE/MAX Southwest - Sugar Land, TX
The most important home I sell is YOURS!

Pre approval or proof of funds before we open the first lock box.

Dec 21, 2018 07:22 AM
Kat Palmiotti
406-270-3667,, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

A pre-approval letter must accompany the offer, so I require a pre-approval prior to submitting an offer. And the pre-approval is almost always in the amount of the offer, not more.

Dec 21, 2018 06:06 AM
Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

We have done pre approval letters for years now. Pre quals get ignored because as you say, they are worthless unless credit & a few other things are looked at.

Lots of times the  buyers agents put in a low amount so that you won't counter. In fact, that's a really stupid idea as it just shows the seller that the buyer can't afford the property.

Dec 21, 2018 05:58 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I look for a letter from a local and trusted lender. I look for an amount at least the purchase price. I also like to call the loan officer. 

Dec 21, 2018 05:21 AM
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Never, normally a custom pre-approval to the amount offered, ideally from a local direct lender with in-house underwriting.

Dec 21, 2018 05:10 AM
Ryan Huggins - Thousand Oaks, CA - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I require a pre approval with automated DU prior to showing property.  I need to know they can afford the homes we're looking at.

Dec 21, 2018 08:39 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Not a pre-qual letter but a pre-approval is needed in the amount of the offer, and a discussion with the lender to verify some things. 

Dec 21, 2018 08:25 AM
Francine Viola
Coldwell Banker Evergreen Olympic Realty, Olympia WA - Olympia, WA
REALTOR®, In Tune with your Real Estate Needs

I echo what others have said - I require it before spending time showing homes.  But a preapproval letter is more what I'd like when submitting an offer.

Dec 21, 2018 08:25 AM
John Juarez
The Medford Real Estate Team - Fremont, CA

A pre-approval letter is preferred. If a pre-qual is all that I have, I will go for that. Whether the letter is for the offer amount of the full amount for which the buyer is approved is a decision made based on the transaction and what seems to be best at that time.

Dec 21, 2018 08:09 AM
Donald Urschalitz
Lubeck Realty Group - Jupiter, FL
P.A. Realtor ABR RSPS North Palm Beach County

Every time since our market moves fast and sellers don't want to lose market time waiting to see if the buyer can get a loan.

Dec 21, 2018 08:01 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

There was a time when I did not require any proof. People were more honest then and the process was easier to navigate. In my later career, I required proof of funds or a pre-approval letter subject only to an appraisal of the property. 

Dec 21, 2018 07:13 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The flow of the deal, if there is to be a deal, requires the basics. Pre-approval is the mark/tool of a serious player/buyer. Lack of it says the opposite too

Dec 21, 2018 06:03 AM
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

I do and for the offer we make as the amount.   Agents will not consider it a valid offer without it.  Some get a full approval before and that is much better for all concerned.

Dec 21, 2018 05:37 AM
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Yes, a pre-qualification or approval must accompany the offer. The amount shown on the letter must support the offer. I advise buyers that the seller will not take the house off the market based on a buyers 'wishful' thinking.

"I don't want this one to get away!"

"Here again is the number for Movement Mortgage. Call them now."

Dec 21, 2018 05:35 AM
Jennifer Hunter
Southern Tradition Real Estate - West Fork, AR
Realtor servicing NW Arkansas

I will show property once without a pre approval. Then I will discuss with them the importnace of one. They seem to be pretty loyal after that. I will not submit an offer witht out one. 

Dec 22, 2018 06:10 AM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

I help my buyers understand that if they want to get the home they most desire they need to be ready and prepared.

They need to get with a lender to determine how much they borrow. This is the gage I use to find home for them. No use chasing $100,000 more than they can buy.

A letter from the lender or financial institution must accompany all offers if they expect to be taken seriously.

This is how we can have a higher success rate for our buyers.


Dec 21, 2018 11:48 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

A pre-approval is sent in with every offer. It is pertinenent to know that buyers can perform at the offered amount without wasting anyone's time.

Dec 21, 2018 11:20 AM
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West - Carlsbad, CA
Presence, Persistence & Perseverance

We prefer a Pre-Approval Letter and for the amount offered

Dec 21, 2018 10:31 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Having a letter in hand or a chat with a trusted local loan officer is comforting.

Dec 21, 2018 08:51 AM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

If not it has to be done in 5 days from offer. We don't write anything on someone new without it.

Dec 21, 2018 08:23 AM
Ricardo Mello
Manhattan Miami Real Estate - Manhattan, NY
Manhattan & Miami Real Estate Agent

We prefer to submit offers with prequel Peter!

Dec 21, 2018 07:37 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Yes. Depends.

Dec 21, 2018 07:20 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Maybe.  It depends on the client.

Dec 21, 2018 05:58 AM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Prior to showing homes.  I need to know the limit as homes still sell more than asked. Not everyone has $1.5M. Release all contingencies at offering including loan is fairly common in CA. 

Dec 21, 2018 05:48 AM
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

I agree the quality of the letter varies, but when my clients elect to use my suggested lender, whom I've worked with for years, I can back the validity of it with my reputation. 

As to the offer amount or what they are actually qualified for, it varies depending on the circumstances.  In a competitive market, I want to show strength, so  pre-approval for more than the offer price often makes sense. 

Dec 21, 2018 05:53 PM
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL 305-931-6931

Yes. We ask for it.

Wishing Happy Holidays to all.

Dec 21, 2018 03:34 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

only if the listing we are writing has said requirement in the MLS.  I would say that 75% of the offers/contracts in my market never get a pre-qual or pre approval letter and 95% of them close.  Selling vacation homes in a different animal and our buyers generally speaking show us (buyer's agent) a general letter of assets from their bank or brokerage and it's just not an issue.  

Dec 21, 2018 02:32 PM
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Yes, we require. 

Happy Holidays to all.

Dec 21, 2018 12:25 PM
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.

Always except for 2 occasions.  I knew the buyer very well

Dec 26, 2018 05:14 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

If there is time, I prefer a pre-approval letter.

Dec 26, 2018 07:06 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I still want one that agents can call lender


Dec 24, 2018 10:54 AM
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

For me, it all depends on the purchase price, and if the sellers agent requires one.

Dec 22, 2018 04:34 AM