Post: Purchasing Requirements
Posted by Kimberly Garrison on 1/09/07
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.
Posts on this thread, including this one
- Purchasing Requirements, 1/09/07, by Kimberly Garrison.
- Re: Purchasing Requirements, 2/15/07, by Hope.