Question about home buying and gift letters?

If a relative "gifts" you an amount of money say to use for down payment and they sign the gift letter to submit to the loan company do you still have to wait 2 months in order to be able to make an offer? Or if the gift letters are submitted can you start making offers right away?
I know the banks like to check 2 months back on bank statements, pay stubs etc... So if the money sits in your account it is considered "seasoned" and then it doesn't matter. I'm just wondering how long it would take to begin making offers. Hope this question makes sense.
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Most lenders would be looking for 3 months seasoning of funds from gifts to the borrower. Therefore they would want bank statements or send a Verification of Funds to their bank.

In order to get your pre-approval letter you would need to have your income verified, the gift letter verified, w-2 forms for a couple of years and other things your mortgage broker would ask in order to issue you your pre-approval letter.

Once these funds have been verified then your mortgage broker or bank would issue you a pre-approval letter. After the issuance of your pre-approval letter you would then be able to select a real estate agent, find a property to purchase and make an offer on the property you find.

I hope this has been of some use to you,good luck.

"FIGHT ON"