"Pre-approval" on multi-family homes

[Todd Cichosz]

Hi!

I am looking to get into multifamily real estate (starting with small 2-10 unit properties) in southwest Washington and wondering about the whole offer and purchasing process so I can better plan out my path. I talked to one bank and was given the understanding that the process isn't like home buying where you get pre-approved for a certain loan amount and then go shopping. They made it seem as though you make an offer with stipulations (ie, subject to bank approval, inspection, etc) and then go through the loan approval process based on loan to value ratio, cash flow, etc). 

Is this the correct process? This seems quite contrary to home buying where proof of financing is usually required/expected when an offer is made. 

Any help clarifying the general process to securing commercial real estate financing and purchasing small multi-families would be appreciated. 

Thanks!