Blog > What’s the Benefit of a Pre-Approval Letter From Buyers?
A pre-approval letter shows that a buyer’s finances have been reviewed by a lender and that they’re qualified for the loan amount stated. This adds credibility and reduces the risk of a deal falling apart due to financing issues. Sellers should prioritize offers with verified pre-approvals over pre-qualifications, which are less formal and based only on self-reported information.
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