As you might expect -- particularly in this region,
many homes that are listed for sale will receive
Typically, Sellers receive written
offers through their listing broker, who reviews the
offers and related financial information with the
Seller, showing the net proceeds of the different
Although the net proceeds to the seller is a
very important factor in the seller's decision about
which offer to accept, counter or reject, there is one
defining document that puts one offer above all others
-- the one with a good pre-approval letter from
a recognized lender.
If not pre-approved, a home
buyers in the Maryland area must present at
least a pre-qualifying letter from a recognized
In order to make your written offer to buy a
property as attractive as possible, the lender's
letter should accompany the offer.
To try to buy a home in the Maryland without at
least a written pre-qualifying letter, is to:
- lose to another buyer,
- delay the process and permit other offers to be
- not have the offer considered.
will gladly refer you to a local lender who will
prepare a written pre-qualifying letter, following a
credit review, verification of income to qualify and
verification of money to close.