CHAPTER 22 No Pre-Approval, No Deal: Wh al, No Deal: Why You Need to Confirm Financing Let's skip the small talk: Imagine pulling your house off the market for 30 or 45 days, only to find out the buyer can't even get a loan. Not only have you wasted precious time, but you’ve also missed out on other buyers who were ready, willing, and able. Time is money, and in real estate, wasting either is a huge risk you can’t afford to take. That’s why before you even think about accepting an offer, you need to confirm your buyer’s financing. Here’s how it works in Georgia: it’s standard practice to require a Pre-Approval Letter. This isn’t just a piece of paper, it’s your first real clue that this buyer has the financial chops to get the deal done. A Pre-Approval Letter tells you the lender has done their homework on the buyer’s income, credit, and assets. It’s essentially a "Hey, we’re good with this buyer, and they just need to cross the finish line." Of course, it’s still subject to underwriting and property conditions, but it’s a hell of a lot better than guessing.
As your listing agent, here’s what I’ll do for you:
• Request and scrutinize the buyer’s Pre-Approval Letter like a hawk. • Verify it comes from a legit, reputable lender (no fly-by- night operations here). • Dig into the details: I’m talking loan type, down payment,
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