Why Use Pre-Qualification Letters ?
Successful lending requires teamwork !
What's in it for you, the Realtor?
- Preparing buyer & seller for successful lending
- Leverage in contract negotiations
- Addressing required seller concessions
- Getting to the closing table
- Establishing rapport with your lender
- Setting expectations for payment & price
- Upfront selection of proper financing
Four simple letter facts:
- All letters are not the same.
- Lenders use different letters, language & terms.
- The words in every letter tell you a story.
- Accept only the State of Texas form !
Texas has excellent promulgated forms for bankers and brokers.
Protect your real estate transactions by requiring the State of Texas letter!
If your lender isn't knowledgeable, send them to:
To see a sample of the letter, click here.
Letter Do's & Dont's
- Present & negotiate offers with Texas letter only.
- Obtain letters with specific property address & terms.
- Use a lender that honors their letters.
- Read the letter before use.
- Call lender with questions before use.
- Present or negotiate offers without letters.
- Accept other letter versions.
- Take generic letters without address or terms.
- Accept dated or aged letters.