Why, Why, Why does this happen? Wrong?

[Greg P.]

Hello all. Please tell me this is wrong because I feel like it is when I do it. Here's what happened. I get a call in the evening from my Agent saying that HUD just accepted a offer on a Property. He said I can get it financed, but I need a Pre Approval by tomorrow Morning. I've been working with a couple of banks, and they said they can most likely finance me, but I know that they won't be able to produce a Pre Approval that quick. So, here's what I had to do instead. I called a Hard Money Broker who did it for me. Even though, I probably won't use the Hard Money, I did it anyway so I have a chance of getting this thing financed. I feel like I lied to the Hard Money or deceived them by thinking that I was going to go through them, but in reality I'm probably going to go through a local bank because their rates are better. Does anyone else go through this in RE? It's like in the spur of the moment, you are not FLAT out lying but somewhat telling a white lie. This happened in other situations as well. It's like a grey area. Sigh. Thank you.

[Jon Holdman]

You should have your pre-approval from your lenders all arranged before you start making offers. Then you can attach the pre-approval to your offers. This is happening because you're making offers without getting your ducks in a row.