We’ve been preapproved for a mortgage and found a home for sale by owner, if we choose to put in an offer, our?
lender requires that we submit our offer to our real estate lawyer and not submit a good faith deposit right off the bat. The banks are “tight” when dealing with these types of transactions and our broker wants to protect us from losing our money since theirs no realtor involved.
How do we work this? Is there a way to negotiate with the seller so they know we are serious (pre approved) however have to follow the lenders rules to receive our mortgage? Any ideas on how to put this concern on the table?