This is commonly one of the first questions I get from sellers when I submit the offer. (if you have talked with a lender and are you qualified to buy their home).
One of the main reasons that sellers prefer to see a Pre-Approval Letter is if they accept your offer and you then are unable to purchase the house due to financing. Then the sellers would have lost 1 – 2 months in the housing market and the chance to legitimately sell the house. It is very important and reinsuring to the sellers for them to know that you are pre-qualified.
Having a pre-approval letter is a powerful tool, it is like having the cash in hand to purchase the home.
