Pre Approved Buyers are  Often Considered Better Than CASH Buyers In Todays Real Estate Market.   Here Are Some Reasons Why:

  1. CASH BUYERS –  are often pretending they have cash to tie up properties.  There have been many seminars teaching unqualified buyers to tie up properties using a false “Verification Of Funds” (VOD).  Certain companies provide VOD’s to buyers for a small fee, and the buyers use them to tie up properties, hoping to flip it in escrow, or to find an investor while they have it tied up.   They often don’t close after tying properties for a long time, which is painful for everyone involved.
  2.  CASH BUYERS OFTEN LOSE OUT WHEN MULTIPLE OFFERS – Unfortunately, because the false VOD’s, Seller’s and selling agents are very cautious with cash buyers these days, causing real Cash Buyer’s to miss out.
  3. PROPERTIED LISTED AT A GOOD MARKET PRICE OR BELOW SELL  FAST, OFTEN WITH MULTIPLE OFFERS –  Seller’s don’t have time to investigate, so, will often go with the safest offer, rather than the highest price offer.  It takes too much time, especially on a weekend to verify whether the VOD is real, or not.
  4. THE BUYER WHO IS PRE-APPROVED WITH A “LOCAL” “REPUTABLE” LENDER OFTEN GETS THE SELLER’S ATTENTION MORE THAN ANY OTHER OFFER – In todays competitive market, Seller’s and their agents want to go with the most reliable source of information when making their decision on accepting an offer.    Serious buyer’s usually provide their real estate agent with a pre-approval letter ready to present with an offer.

Here are some links to lenders.