Realtor and Lender Ethics?
A question for the BP Community.
I listed an income property for sale. 3 days later received full price offer, with loan commitment letter. Completed inspections, appraisal, minor repairs, expedited vacating tenants at request of Buyers Agent...waiting to close at this point.
Two Days before closing, We are asked for a 30 day extension to extend closing and paid $1000 to do so from Buyer. We learned the Mortgage broker who provided the loan commitment had the Buyer in the wrong loan type?
Two days into the extension, I learned the Buyers Agent has rented the Buyer a home owned by the Buyers Agent on a one year lease, with out disclosing any of this info.
There was also a lot of questionable things coming from the loan broker, who works side by side in the same office as the Buyers Agent during the extension.
Ethics have always been loose and fast with the local realtors and now ‘in-house lender’. I am interested in learning how others feel about this and how they would handle this issue. Thank you.