Financing

In today’s market it is important to many sellers that their prospective purchasers be financially qualified to buy even before submitting a purchase offer.  This is done by contacting a reputable lender and obtaining a pre-qualification letter from that lender to submit with any offer.

Many sellers, especially sellers of bank owned property (REO) require proof of funds (POF) before even reviewing an offer.

The more comprehensive the pre-qualification or pre-approval letter, the stronger the purchase offer will be.  We suggest the following format for lender letters:

Mr. & Mrs. Smith have conducted an interview with my office and have provided financial information supporting their ability to purchase (INSERT ADDRESS) at a price not to exceed (INSERT PURCHASE PRICE), subject only to the property appraising at a level equal to or greater than the Purchase Price outlined above on an AS-IS basis.

Prospective buyer may utilize any lender they so choose, however it is preferred that pre-approval letters be provided by a lender known to the seller or can be vouched for by the listing broker.

Some options for financing are identified below.  All lenders are independantly owned and operated.  Gryphon has no formal affiliation with any lending entity.*