First, I knew it was a pre-foreclosure so I knew there would be a lot of emotion involved.

Generally speaking, if you come to a hard money lender and say "hey, I have 40% to put down on the property I buy", I would strongly consider giving you a pre-qualification letter on any property.

Warning - thread hijack, can move this if needed.We are a ski family looking to buy in Bartlett. 

We are only looking to get a pre-approval letter and are considering using a conventional loan because we are looking for our first deal and want to be as safe (and familiar) as possible.Are these bank-specific requirements or they are indeed requirements for conventional loans? 

I'm hoping to start putting offers in late March early April.Question is, how far in advance should I reach out to lenders for a pre approval. 

The home owners you're talking about have equity I would assume otherwise there isn't really a deal for a pre forclosure I assume.  

Getting a pre-lim report from title first to find out any other liens against the property and yes key is knowing or being able to estimate a level of repair.  

3) how to get through a pre approval when your self employed 4) WHAT WOULD YOU DO ?

Which can hurt your earnest money and your chances of closing on time or at all.Then compare quotes Rate, APR and are you "paying points" all very important.

Here’s the article:https://m.washingtontimes.com/news/2023/apr/18/joe-biden-hike-payments-good-credit-homebuyers-sub/