As a listing Realtor I will not encourage a seller to consider prospective buyers offer without a Lender's Pre-Approval Letter and valid Buyers Proof of Funds. When you receive a Pre-Approval credit report with buyers FICO score is required in Pre-Approval process. The Pre-Approval is valid for X number of days. Therefore, buyers are not running their own credit report each time they make an offer that information is inclusive in the Buyer's Pre-Approval from Lender. Hope this information helpful.
Gail Mercedes Cole
You need to ask your Realtor and lender these questions. There is an art to making offers, and a system.
They do not run your credit each time. Your lender should provide a letter tailored to the property on which you are writing an offer.
Do you and your Realtor have a plan, or are you just out writing offers? I recommend that you develop a strategy and stick to it. It will save you time, energy, money, and frustration.
First of all if you are already pre-approved then they will not be running your credit, the lender is going to request copies of everything to make sure you are qualified. Secondly if you lender can give you a DU approval you shouldn't have a problem. For a good and honest lender please contact Al Rivera at (562) 587-5284
YES there are some banks WHO ARE DEMANDING in order submit your offer your pre-approval letter should be from that lender who owns the property. YOUR OFFER CANT be submitted.
We work with clients purchasing homes WE KNOW LONGER forward properties to clients which have those lender specifications IF YOU RECEIVE an accepted offer... additional pull on your credit.
Have your buyers agent SKIP over those properties of those lenders. There are quite of few... all agents across the country dont appreciate that forced business practice including the home buyers.
~ National Featured Realtor and Consultant, Lecturer regarding Credit Repair, Mortgage Loan Officer