Once it's pending and has been set and docketed at the courthouse, the homeowner can accept an offer, but it would still need to be approved by the bank if there have been lis pendens filed.

It also tells the seller that you already have funding approval.  

I don't think we can get approved for   $3-5 Million loan with 5% rate.

In the beginning I only had to get HOA approval to rent on purchase.

If you are financing, it’s a pre-approval letter.Don’t focus on solely rates at first.

I am approved for an FHA loan and am considering purchasing this property.

@Ankan BasakThe question is was it approved.

In fact, I’d be very leery of any HML who would finance you now without a written assurance of some sort that you are already pre-approved for the refinance.It’s much safe for you to find a commercial lender who will provide your bridge financing now with an automatic conversion to a longer-term loan.

Our lease has the tenant pay $50/month plus $10/person for water, and SEC 8 approved it.

Other than having cash on hand and absent a pre-approval from a lender for a specific deal, how does an investor take quick advantage of a purchase opportunity?