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Nifheim
allo
Member since 1/09 5476 total posts
Name:
Jennifer
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Did a seller's agent ever ask you for credit scores & yearly income?
Oddly enough this weekend presented itself with many opportunities for us. Our original house that we went back and forth with now dropped their price significantly for us but meanwhile we had attended a open house on Saturday two blocks away from our apartment and put a offer in. This house came back with a counter that is less then house A's final price BUT the seller's real estate agent asked for our credit scores and yearly income 
Why would they ask this when we have a pre-approved mortgage and the Town of Babylon gave us a purchases certificate for their program basically certifying we are able to afford it?
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Posted 6/1/09 10:37 AM  |
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micknjohn
LIF Infant
Member since 7/08 333 total posts
Name:
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Re: Did a seller's agent ever ask you for credit scores & yearly income?
I think a preapproval should suffice...I wouldn't give out that info...
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| Posted 6/1/09 10:49 AM |
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k-diggity
stay classy.......
Member since 6/08 1332 total posts
Name:
: )
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Re: Did a seller's agent ever ask you for credit scores & yearly income?
I would not give out that info to them
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| Posted 6/1/09 11:25 AM |
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headoverheels
s'il vous plaît
Member since 6/07 42079 total posts
Name:
LB
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Re: Did a seller's agent ever ask you for credit scores & yearly income?
we had to give this info once... it was annoying but they really just want to make sure that you will qualify for the mortgage. what i was told is that anyone can pre-qual for a mortgage and then it can fall through.
if possible i would have the mortgage broker you are going to be dealing with call the seller's agent. that is what we did and it worked well.
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| Posted 6/1/09 11:32 AM |
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Nifheim
allo
Member since 1/09 5476 total posts
Name:
Jennifer
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Re: Did a seller's agent ever ask you for credit scores & yearly income?
thanks for the info. At first we were just walking away and avoiding this but now I gave them our mortgage broker's contact info at wells fargo for them to deal with them directly.
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| Posted 6/1/09 11:38 AM |
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Nik211
my little monkey<3
Member since 5/08 3303 total posts
Name:
Nik
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Re: Did a seller's agent ever ask you for credit scores & yearly income?
maybe the sellers dont want to waste their time with someone who isnt going to get a loan - i dont think that being pre-qualified guarantees that you will get a mortgage, so maybe they just want to be sure whoever purchases their home has everything together....
good luck!
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| Posted 6/1/09 11:58 AM |
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Leeners
:)
Member since 5/05 4898 total posts
Name:
Eileen
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Re: Did a seller's agent ever ask you for credit scores & yearly income?
Absolutely! Preapproval even a week ago could mean nothing when the real deal comes around. We're selling and this has been a requirement for all of our offers.
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| Posted 6/1/09 12:08 PM |
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OStewarts
LIF Adult
Member since 11/07 1096 total posts
Name:
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Re: Did a seller's agent ever ask you for credit scores & yearly income?
As buyers, we provided this information with all of our offers.
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| Posted 6/1/09 1:08 PM |
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Re: Did a seller's agent ever ask you for credit scores & yearly income?
this is a standard question for a sellers agent to ask. especially these days with everyone having problems getting approved for a mortgage. its assurance for the seller that you are solid buyers who should be okay to get financing. i cant tell you how many people will present an approval but not be able to get a commitment and then the seller is back to square one. its not like they're asking you for your ss#'s so just try to give them a general idea to ease their minds.
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| Posted 6/1/09 1:45 PM |
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ImHisMrs
LIF Infant
Member since 11/08 252 total posts
Name:
Mrs. C
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Re: Did a seller's agent ever ask you for credit scores & yearly income?
The sellers agent didn't ask us - She called our mortgage guy directly and asked him many questions that after I heard I was angry - He refused to give her any information - so before they would sign contracts, we had to send the mortgage to the underwriter for an actual preapproval before they would lock in - IMHO its none of their business...
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| Posted 6/1/09 1:57 PM |
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mrsD08
LIF Zygote
Member since 6/09 19 total posts
Name:
Irene liw: snowcutie82
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Re: Did a seller's agent ever ask you for credit scores & yearly income?
our agent told us that we had to provide our preapproval letter, financial balances (w/o account #s etc), and credit scores for banks to even consider our offers...but this is all for foreclosures.
our mortgage person (at wells fargo) said they run a credit check for the pre-approval so i'm sure they can pass that info along.
Message edited 6/1/2009 8:01:55 PM.
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| Posted 6/1/09 8:01 PM |
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