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T

TemporaryUser

Guest
Hi. I am from Pennsylvania. I am in the midst of trying to buy a house and it's been so stressful, more than I thought it would. Could you tell me the legalities of the following?
Can a listing agent (we have a different agent we are using as well) check your credit report if you already have a pre-approval letter from the mortgage company?
Also, if the offer was made a week ago (Wednesday) with a response date of the Friday following that, can the agent wait for more offers and then propose it to the sellers a week later (Today)?
Thank you.
 


Q

qdaemon

Guest
Also, if the offer was made a week ago (Wednesday) with a response date of the Friday following that, can the agent wait for more offers and then propose it to the sellers a week later (Today)?
Are you talking about the sellers' agent? They could but you could say you already withdrew your offer since it expired.(supposing they accepted it and you didn't want the house)

If your agent did that I would look for a different one.
 
T

TemporaryUser

Guest
Pennsylvania
Yes, it was the listing agent that has done all of this.
So, it is legal for her to not even show the offer to her clients?
What about the credit thing?
 

HomeGuru

Senior Member
TemporaryUser said:
Pennsylvania
Yes, it was the listing agent that has done all of this.

**A: without your written approval, the listing agent cannot order a credit report on you.
*************

So, it is legal for her to not even show the offer to her clients?

**A: yes, agents must communicate/present all offers asap to their clients.
***********
What about the credit thing?
**A: was there a contingency that the Seller review your credit report? How did the listing agent obtain your credit report?
 
T

TemporaryUser

Guest
Pennsylvania
This is actually all about my Fiancee's credit...the loan is in his name. She called our realtor and asked first for the credit score, which we gave her verbally. Next, she called our realtor and asked to have a copy of the credit report to verify the credit score. We were told we didn't have to send it to her, but she's been dragging out this process for so long that we said if this will get it done, just send it to her. So, we sent it to her (No written agreement, just verbal). She then proceeded to call our loan consultant at the martgage company and question things on the credit report (not just the credit score), things that were in my fiancee's favor (car loans paid off). She then proceeded to tell him that she was presenting the offer to her clients along with two others that night. This was yesterday, which made it exactly a week from the date we originally made the offer. There was no contingency, we just wanted to have an answer on the house. We didn't know she hadn't even shown the seller. We're first time home buyers and I think we've been taken for a ride. Should our realtor have stood up to all of this from the beginning?
 

HomeGuru

Senior Member
TemporaryUser said:
Pennsylvania
This is actually all about my Fiancee's credit...the loan is in his name. She called our realtor and asked first for the credit score, which we gave her verbally.

**A: the listing Realtor has no right to ask for the Buyer's credit score or to request a copy of his credit report. Your Realtor has no right to even be safekeeping a copy. That is the mortgage brokers/lenders responsibility.
Once he approved to give a copy, you have no further complaints other than the Realtor talking to his mortgage lender about personal and confidential information on his credit report.
************

Next, she called our realtor and asked to have a copy of the credit report to verify the credit score. We were told we didn't have to send it to her, but she's been dragging out this process for so long that we said if this will get it done, just send it to her. So, we sent it to her (No written agreement, just verbal). She then proceeded to call our loan consultant at the martgage company and question things on the credit report (not just the credit score), things that were in my fiancee's favor (car loans paid off). She then proceeded to tell him that she was presenting the offer to her clients along with two others that night. This was yesterday, which made it exactly a week from the date we originally made the offer. There was no contingency, we just wanted to have an answer on the house. We didn't know she hadn't even shown the seller. We're first time home buyers and I think we've been taken for a ride. Should our realtor have stood up to all of this from the beginning?

**A: your Realtor is an idiot for even having a copy of the credit report and complying with the listing Realtor's request. Also for not following up in writing as to the status of your offer. State real estate law
AND Realtor Code of Ethics require real estate agents to communicate all offers in a timely manner. One week later far from timely.
 
T

TemporaryUser

Guest
Thank you from Pennsylvania
Your information has been helpful. I appreciate it.
 

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