Broker DEMANDING a financial disclosure form
Started by StF62
almost 16 years ago
Posts: 128
Member since: Jan 2009
Discussion about
We recently saw a coop for sale (without a buyer's broker)and made an offer via email. The offer included a pre-qual letter from a well-known mortgage broker, and our attorney's info (she's a highly respected and very experienced RE attorney). In response to the offer, the broker sent us a very detailed financial disclosure form he claims he "needs". This is the type of info we'd expect to give... [more]
We recently saw a coop for sale (without a buyer's broker)and made an offer via email. The offer included a pre-qual letter from a well-known mortgage broker, and our attorney's info (she's a highly respected and very experienced RE attorney). In response to the offer, the broker sent us a very detailed financial disclosure form he claims he "needs". This is the type of info we'd expect to give the coop, but not a broker with a first offer. Our lawyer recommended against giving him this information. I've bought property before, we've been looking at apartments for a while, made a few offers, and never heard of anyone requiring this - and we're not kids, so it's not like we'd need co-signors, we're well qualified. Our lawyer told him that this is not part of the normal process, and she knows us, the building and the mortgage broker. The seller's broker then replied that without this information, he cannot in good conscience recommend that the seller respond to an offer or proceed with us. So basically he's trying to bully us. (politely as possible) This is not a unique apartment; it's in a very big building and there are two identical units per floor. One comes up for sale every few months. Should I just stop dealing with this guy, or is it worth going to his boss? His belligerent behavior has certainly colored our impression of the apartment. [less]