Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 6 years ago on . Most recent reply

User Stats

15
Posts
4
Votes
Josh C.
4
Votes |
15
Posts

Pre approval for every house?

Josh C.
Posted

I noticed that my pre approval has a price on it and I am getting one for each house I put an offer on. This slows me down because I have to rely on the loan broker to type these up for me as I find each deal. 

I am concerned that if I present a general one with a price of say 100k and I offer lower, the seller will have leverage to try to go up? 

What do you guys do for pre approval letters? 

Most Popular Reply

User Stats

23,418
Posts
13,508
Votes
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
Votes |
23,418
Posts
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Get One, for the max you can be approved for. Thinking a seller will negotiate up because you "can afford it" is silly. Many cash buyers show a POF for $1M when buying $100k properties. Besides, I'd much rather sell a $100k property to someone approved for $200k as opposed to someone approved for exactly $100k.....better chance of them actually qualifying and closing.

Loading replies...