Why do I need to be preapproved for a cash sale?I found a home on here that I am interested in. Upon further research, we found out that we need to be pre approved for a loan through a specific bank in order to purchase the home. The home is bank owned, and is less than 20,000. You cannot even get a loan for less than 20,000. I have the cash funds to purchase the home. My credit is not so good. Is there any way around this?April 04 2012 - Waterford0YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.