When it comes to purchasing a house, having an Agreement in Principle (AIP) can be a helpful tool in securing your dream home. But can you put an offer on a house with an AIP? The answer is, yes, but there are a few things you need to know.

Firstly, let`s define what an AIP is. It is a document from a lender that states the amount of money they are willing to lend you for a mortgage. It is not a guarantee of a mortgage, but it does show sellers that you have started the mortgage application process and have a good chance of getting approved.

Now, if you have an AIP and have found a house you want to purchase, you can put an offer in. However, it`s important to note that having an AIP does not guarantee that your offer will be accepted. There are other factors involved, such as the seller`s motivations, the condition of the property, and other potential offers on the property.

Another thing to keep in mind is that the AIP is not a legally binding agreement. It simply shows that you are able to secure a mortgage for a certain amount. Therefore, you will still need to go through the full mortgage application process, including providing documentation and having your credit checked.

Additionally, if you do put an offer in and it is accepted, the seller will likely want to see proof of your AIP. So, it`s important to have the documentation ready to show them.

In summary, having an AIP can be beneficial when putting an offer on a house, but it`s not a guarantee of acceptance. It`s important to keep in mind that the AIP is not a legally binding agreement and the full mortgage application process will still need to be completed. If you do put an offer in with an AIP, be prepared to show proof of the document to the seller.