A loan commitment letter carries more weight as it confirms lender approval, signaling a stronger ability to close.Addressing Closing Concerns: A commitment letter meaningfully reduces concerns, especially when paired with proof of equity and a track record of performance, even if on smaller deals.What Brokers Look For: Key factors are a reputable lender, clear terms in the commitment, and evidence of funds for equity and reserves.

Your engineer should be able to approve some options to fix, then have companies quote to the engineers specs.

I got pre-approved by my previous lender and by another lender.

As preivously stated above, I have a small storage space (around 200 sqft) that can be converted into an ADU (already have approved plans from LADBS) and am meeting with various contractors and teams.

.**** My current issue with the lender that I recently spoke with was that I had to have experience building a SFR on my own property and have sold or refinanced and held in order to be approved for the loan.

As an investor, you'll need to wait until this period expires before your offer will be considered.Additionally, Freddie Mac may require proof of funds or a pre-approval letter with your offer, and they often prefer cash offers or conventional financing.

Adding to what Greg said, there are lots of buyers who aren't pre-approved or will make an offer and then not be able to get financing wasting the seller's time.

I hired an IRA-approved valuation company to value that note at that time.

So far the MLS has brought lowball offers trying to skim $100k off just one property and 2 failed offers (buyers could not get approved for conventional financing for their own reasons). 

In a lot of the Sherrif sale states you simply need a deposit to bid and then you will have a normal or basically normal settlement once the judge approves the sale..