Legal Question in Real Estate Law in California

If I am already prequalified to buy a home, can another bank that is selling an REO property require me to prequalify through them as well?


Asked on 7/29/12, 5:11 pm

2 Answers from Attorneys
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Yes, because there is no standard for prequalifying borrowers, and probably little or no communication between the banks.

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Answered on 7/29/12, 5:28 pm

Yes. The bank can require you to finance through them, and that means they can make you meet THEIR prequalification standards.

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Answered on 7/31/12, 5:13 pm


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