What's the best way to make an offer on this house?

Post date: 2021-10-17 05:00:44

I live in an expensive city and I'm trying to move to a much more affordable area where I can afford a (tiny) starter house for the first time. For reasons (I work in an uncertain industry, etc), I want to buy a house that's quite a bit less expensive than a lender says that I can afford.

I read that buyers often submit a preapproval letter tailored just to the specific amount they're offering, so that if there's any negotiation the seller doesn't assume that they can ask for a lot more. But what should happen if it's a cash offer?

I'm interested in a house that is cheap enough that I could pay in cash. My bank won't write a "proof of funds" letter and just provides an account summary that shows the total amount of money I have. Do you know of a bank that will write a letter simply saying that I have sufficient funds to make an offer of $x, rather than spelling out exactly how much money I've saved up?

Please click Here to read the full story.