Seller's agent "insists" on a pre-approval with offer?

[Brooks F.]

I'm trying to buy a residential property under a commercial loan.

My commercial lender will have no problem giving me the money- I already spoke to him about it- this is one of the smallest deals I've ever done- but my Commercial lenders all require a contract before giving me a commitment letter. This seems to be how every commercial deal I've done goes.

The selling agent on the residential property I'm buying refuses to pass the offer on to the seller unless I have a pre-approval. I sent him a pre-qualification, and he said no it needs to have the loan terms, etc. which the commercial lender won't offer without a contract!

This is frustrating me because I'm NOT going to do it under a residential loan, and I don't want to go run my credit to get a fake pre-approval just to put an offer in on the property.

In addition, I'm not going to negotiate much, so I see a 10% chance of the deal actually working out.

What would you advise I do in this case? Should I walk away? Lie to a residential lender about getting a property and let them run my credit? or go around the seller's agent and send the offer direct to the property owners?

There's one other option... and that is I could "offer" cash. I have the cash but I refuse to spend it all on the deal, but I was worried that would create more problems later if I threw that offer out there, and then I have to show them my bank accounts...

I can't be the first person that has dealt with this?


NOTE: If my commercial lenders are just nuts, tell me. I've also had other problems getting low dollar loan amounts and some lenders on here have reached out to help me. Just let me know if its actually my commercial lenders that are the problem and that pre-approvals are commonplace in these situations!!!