Ask Experts Questions for FREE Help !
Ask
    skeith511's Avatar
    skeith511 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Dec 26, 2008, 10:58 AM
    Pre approval by bank
    If the buyer has already by approval by another lender, is it legal to require a buyer to be pre approved by the bank which owns the property.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #2

    Dec 26, 2008, 11:13 AM
    Hello s:

    Nothing is illegal about it, but it doesn't make any sense to require it. He's not going to finance through the bank which owns the property. He's going to finance through another lender.

    excon
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    Dec 26, 2008, 03:06 PM

    Actually no it should not be legal for this bank to require them to apply for credit at their bank if they have their own sourse.

    A seller of real estate can not require you to borrow money from a certain sourse ( a certain lender)
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Mothers approval [ 7 Answers ]

My mom doesn't like me. She really doesn't I swear by it. When I was little she would put me down and treat my sister better than me. When I was 12 and my sister 14 she forgot to get me birthday present ] and just recently she kicked me out of the house because she can't handle me and made me leave...

SSN after H1b approval [ 5 Answers ]

My friend is in USA on H4. He had applied for H1b and got an approval. Can he apply for SSN now. If not, when can he apply? What are the documents required? Thanks.

Working on OPT after H1 approval [ 3 Answers ]

Atlanta Expert , I see your excellent solutions , hats off to you. I need a piece of advice.My consultancy is running my payrole on OPT (which is valid till April 2006 ) even when my H1 is approved earlier with a start date of jan 1 2006 . What are the consequences? Is it legal or do I...

Working on OPT after H1 approval [ 1 Answers ]

Hi, Iam student working on OPT status . Recently my H1 was approved with start date from Jan 1, 2006 . My OPT is valid until May 2006. Can still work using my Opt till May 2006? If so what are the consequences?? :confused: will it matter me if I am going for H1 B stamping with these...

View more questions Search