Many sellers of bank owned properties REQUIRE that a buyer submit a pre-approval letter from a DIRECT ENDORSEMENT LENDER (not a mortgage broker) with an offer to purchase.

This process may take up to 10 days to complete as your lender completes employment verification, income verification, etc.

Don't wait . . . start your pre-approval process immediately.

If you intend on paying cash for a property and not including a financing contingency in your Offer to Purchase, have proof of funds ready to submit with your offer.

Many sellers of bank owned properties will require proof of funds which can be in the form of a recent bank statement or a letter from your bank indicating that you have the full purchase price available in liquid funds!