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Top 3 Ways Your Lender Can Help You Submit A Strong Offer

Larry Mastropieri

Larry Mastropieri is co-founder of FloridaHomesBocaRaton.com Real Estate Group in Boca Raton, Florida...

Larry Mastropieri is co-founder of FloridaHomesBocaRaton.com Real Estate Group in Boca Raton, Florida...

Oct 11 3 minutes read

When working with a lender that can move fast, it allows you to submit much more competitive offers. If a borrower is prepared, they can gain advantages versus competing home buyers.


To make it easier to remember, we break it down into 3 straight-forward questions for your lender.

1. How quickly can the lender provide a loan commitment without any conditions?

It goes without saying: The less strings attached to a potential loan commitment, the smoother the process will go. In this case, knowing how quickly a lender can provide a fast track approval gives you a better idea of when offers can be submitted. Depending on the lender, fast track approvals can be completed in 24 to 48 hours.

Also see if the lender can do a 7-day standard loan commitment period.

2. How quickly can the lender turn around an appraisal?

Ask the lender if they can do a 7-day appraisal turnaround. Generally, the time a home appraisal takes depends on the home and its area/location. Most home appraisals can take anywhere from a few days to more than a week depending on the complexity of the property, the appraiser’s schedule and other varying factors.

Having a definitive answer for the appraisal turnaround prevents any offer timeline disruptions.

3. How quickly can the lender close?

Inquire if a 21-day closing is the fastest the lender can handle? They may be able to handle something more quickly, such as a 10-day option if it is rushed. It's not uncommon for sellers to consider a lower offer IF  it can be closed in a much shorter period of time.

It is all about timing!

As you probably gathered at this point, gaining competitive advantages over other potential buyers is the ability to offer everything they can and more... in a shorter amount of time. It comes down to efficiency. And if you, the borrower, are better prepared with all the things associated with home loans, the ability to submit more competitive offers will be yours!

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