READY? What does "ready" really mean? Got your socks on? Shoes tied? That's ready to go outside. Done your homework? Backpack set? That's ready to go to school. Being ready to buy a bank owned home is more like steeling yourself for a series of events that are going to take place, no matter who you are and what you are offering.
Before we get to that though, you need a pre-approval letter from a lender well before you place your offer. In fact, you need your pre-approval letter before you go house hunting. You need your pre-approval letter even before you step in the FIRST house! Why go looking at something that you can't afford to buy? It doesn't make sense to use your time that way. Better to spend a few minutes on the phone with a lender, sorting out whether or not you can buy, and if you can, how much you can spend. Having that letter is the first and really most important step to "ready."
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