Real estate agent question
 

My husband and I purchasing some land and the sellers real estate agent called our loan officer and talked to her, can they do that? To me that just sounds weird. :confused:

I don't know for sure but I would think that the sellers agent needs to be contacting your agent....and if they need something from the loan officer, it should be up to your agent from there.

That's what we thought. Our agent asked for our loan officers business card and we didn't think anything about it and gave it to her for her use then today she told us that the sellers agent called. It made us uncomfortable that both agents are trying to get into our financial information, I think it's only our agents business.

I work at a mortgage company and there have been times were the mortgage broker or loan officers have spoken with the sellers agent when situations arise and they need to fix them. Some agents want to make sure that you the borrower are approved and will be able to purchase the real estate. Do you have an agent?

Just want to let you know that the agent may be speaking about other things with your loan officer than just your financial situation. In the last couple of months we've had situations were the property the borrower is purchasing has come under value once the appraisal has been done and at that time the loan officer may speak to the sellers agent or the seller agent may speak with the L.O. to see what happened that the property did not value and what can be done to remidy the situation. Other times if for some reason it would take longer to close a deal the LO I work with would call both agents to let them know about the situation. But a LO cannot go into specifics about ur financial situation with just anyone and by this I mean what is ur credit scores or what came up on ur credit like collections or things along those lines. But like I said before they just want to make sure that u are approved meaning they have checked ur credit and have determined how much u qualify for and are pre-approved with a lender. I know that in our office when we get a borrower we won't let the agent show them houses until they come to our office and we check their credit and all their financial documents and make sure that they will qualify and how much they can afford.

I hope this helps.:)

Okay, we called our agent and asked her all the specifics on their conversation and why she called our loan officer in the first place. She said she was calling about closing information, something I never thought about. I can see that then. I guess it was the loan officer that disclosed how much we were approved for and the other agent didn't even ask for it. I'm not sure why she told her then. Oh well. HeHe :)