As we know there are 3 words in real estate, location, location and location. I also add 3 more, negotiate, loan commitment, and cash. This is all important when making an offer.
Let’s look at negotiations, first what are you approved for, do you have additional money you can put down, will the seller agree to pay your closing cost, can you get a gift letter, a bridge loan, owner financing, etc.
Are you approved for a loan as long as the property apprises out for the lender. I personally do not care for pre-approvals, as at the last minute something may show up on a credit report that could stop the loan. Work with the lender to verify you can by any house with in that price range, if not that is the seller fault, may be priced to high, may need some work. A firm loan commitment is the same as cash as long as the house appraises for that amoun
Cash is gold, Mr. Seller here is my money, and here is what I will pay. I personally recommend you still get an appraisal on the property, if it does not appraise out for what you offered, go back to the seller and ask for a price reduction to match the appraised value.
Talk with your agent and see all l your options, and us all options to your advantage as the buyer, hopefully, you will have a Buyer Broker Agreement with a firm and that agent will represent your best interest.