Steve Fisher 5507-7550
Great question. First it is important to note that the preapproval letter is for the amount of financing that the lender will provide, not the property price. Second the price is an offering price to the potential buyers. As I tell my buyers, there are normally 3 prices in the negotiation of a home purchase - the price that the seller offers the home for sale, the value to the buyer at the time a contract for purchase is written and an amount somewhere in between that both parties agree to - the selling price. Do yourself and seek some representation from a Realtor (it normally costs you nothing). Hope this helps. Feel free to contact me with any additional questions or concerns. Best of luck in your home purchase plans.