Has anyone ever heard of a real estate agent doing this...

12-3Princess Posted: Dec 13, 2005 07:51 PM

Has anyone ever heard of a real estate agent doing this...

Our real estate agent wants DH and I to sign a document that says we'll show proof that we have the down payment, salary pay stubs, and a merged credit score within 10 days or there's no deal... isn't that odd? I thought usually you didn't have to show that stuff until closer to closing... She's saying within 10 days of our offer being accepted...

Anyone experience this?

Blu-ize Posted: Dec 14, 2005 09:16 AM

Re: Has anyone ever heard of a real estate agent doing this...

Did you get a pre-qual or a pre-approval on a mortgage?

MCDO15 Posted: Dec 14, 2005 10:27 AM

Re: Has anyone ever heard of a real estate agent doing this...

no but i just assume they dont want to waste there time with good leads and then see the deal go down the drain...

12-3Princess Posted: Dec 14, 2005 03:04 PM

Re: Has anyone ever heard of a real estate agent doing this...

Posted by Blu-ize

Did you get a pre-qual or a pre-approval on a mortgage?

Yes, we were prequalified. this was in ADDITION to the prequal... i guess the seller was just burned in the past or something and wants to be more careful.

kaklesmay Posted: Dec 14, 2005 03:26 PM

Re: Has anyone ever heard of a real estate agent doing this...

Im sure the bank checked these things before pre-qualing you. Thats odd. I think they are being redundant by asking for paystubs and credit scores. The seller wouldnt care about that, the bank would.

Never heard of that

Blu-ize Posted: Dec 14, 2005 03:27 PM

Re: Has anyone ever heard of a real estate agent doing this...

Posted by 12-3Princess

Posted by Blu-ize

Did you get a pre-qual or a pre-approval on a mortgage?

Yes, we were prequalified. this was in ADDITION to the prequal... i guess the seller was just burned in the past or something and wants to be more careful.

This is out of the ordinary. All the seller is entitled to know is that you are financially solvent enough to buy the house. Do you have an attorney yet?

12-3Princess Posted: Dec 14, 2005 06:22 PM

Re: Has anyone ever heard of a real estate agent doing this...

Well, I am an attorney, but not a real estate attorney...

It turns out that I don't have to show the agent this 'stuff' - I just have to have the mortgage broker confirm that he's seen it... which is fine. My broker is DH's dad!

Blu-ize Posted: Dec 15, 2005 09:26 AM

Re: Has anyone ever heard of a real estate agent doing this...

Posted by 12-3Princess

Well, I am an attorney, but not a real estate attorney...

It turns out that I don't have to show the agent this 'stuff' - I just have to have the mortgage broker confirm that he's seen it... which is fine. My broker is DH's dad!

Yep-that sounds right. After all, you couldn't have been pre-approved without financials.