estate affiliate
Question
If I am already pre-approved with a particular bank for a mortgage loan,?
And I find a house in which my real estate agent wants me to only use their bank. Do I have to rerun my credit with the new bank? Also how long is the pre-approval letter good for? Can the realtor refuse to sell me the house if I dont go with their affiliated bank?
11 months ago - 4 answers
Best Answer
Chosen by Asker
No the Realtor cannot refuse to sell you the house if you unless you use their bank. In fact they shouldn't even be suggesting this as it is not legal. Yes, you will have to go thru the whole approval process again with the new bank. Perhaps you need a new Realtor?
Source(s)
by Em C
11 months ago
Asker's Rating: 
Other Answers
You can use whatever bank you want. You dont want too many people pulling your credit report...it will hurt your credit score and your interest rate
by Shortie- 11 months ago
tell me which agency he is with and I will have his license pulled. What he is doing is ILLEGAL, immoral and worthy of a visit to his state's dept of real estate for a hearing on 3 violations. the letter is usually good for 90 days. the Realtor has nothing to do with whether you are able to buy the house or not--unless he owns the house. SEEK tomorrow, in another office, a BUYER'S AGENT. and do not allow your agent to also rep the seller. available to guide you further.
by kemperk- 11 months ago
Know your rights. Go to following link . It is illegal for a Realtor to refuse you however they can ask for pre-approval letter if you only have pre- qualification.
by orryhappy- 11 months ago