Posted by Kimberly Garrison on 1/09/07

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Hello,
I have recently made an offer to purchase a bank owned
home that had been foreclosed on. We agreed on the
purchase price and I signed a contract. They required
that I submit a $500 earnest money deposit, a prequal
letter from my mortgage lender, and a copy of my credit
report. I complied with all of these requests. Now they
told me that I must allow them to pull my credit before
they will sign the contract even though they have a full
trimerge report with scores dated yesterday from my
mortgage company. I buy several properties every year and
I have never heard this demand before. Can they legally
force me to submit to another credit pull, or deny me
purchase of this property? I am trying to keep the number
of credit inquiries to a minimum to protect my score since
I flip properties for a living. Any information that you
can provide would be greatly appreciated. Thank you.

Re: Purchasing Requirements, 2/15/07, by Hope.

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