Wells Fargo - Pre-qual Letter On Short Sale
Hi all,
WellsFargo is asking me for lender pre-qual letter for property i am doing short sale on. I have not found my hard money lender for this deal yet and was planning to do so once i get the package back into them. So, should I approach a local lender and see if they will give a letter or not worry about sending it in my package back to wells fargo?
Thanks!
I should re-state that I am reffering to my hard money lender in this situation.
A pre-qual letter costs you nothing. I subscribe to the school where if the teacher asks me to bring a note from home, I don't show up the next day without it. It just makes life easier to do what they ask you to do..
Good subscription, Sammy.
I've had the same experience. They''ve even asked me for my leases on properties that don't even have one iota to do with the deal!
Two days ago, they asked the seller to provide an addendum, stating that he'll turn over the leases to me at closing! That was already stated in the contract. We did as they asked, and it went smoother.
Thanks,
OTW
did you tell them it's a cash deal? this works for me as far as submitting the offers and them reviewing them.
i did not tell them it was a cash offer. Are you saying that help things run smoother and quickly?
yes it has for me. i was told this just recently by someone on this board and it has shown to be worth it's weight, to me. hopefully to you too.
Jackman,
I really like the suggestion. How would you suggest I communicate that to the bank. Do I do so in a certain part of my offer or over the phone???
Thanks.