conflict of interest question

[Kathy Moser]

Hey Real Estate Rock Stars!

The person I’m negotiating with on the property I want to buy is not the owner but is power of attorney for the estate of his family member who passed away.

He is also VP of commercial lending for a small local bank.

My real estate books say to reach out to this kind of bank as they often have more flexibility.

Would that create a conflict of interest or ethical issue?

I would be in touch with the residential lending side not the commercial side where he works.

thanks!

[Jonathan Greene]

I would actually use that as positive leverage. Here is my offer and I am happy to do my loan with your bank. It is not a conflict of interest in this context.

[Jonathan Greene]

I would actually use that as positive leverage. Here is my offer and I am happy to do my loan with your bank. It is not a conflict of interest in this context.

[Kathy Moser]

Thanks so much Jonathan for taking the time to reply.  I had that same thought but just wasn't sure what rules there might be.  

[Marc Winter]

Yup, @Jonathan Greene got it right.  

Ask your contact, "For me to make a final decision on this property I need to know how much will you lend and on what terms?" 

[Jonathan Greene]

@Marc Winter it's an old-school win-win for sure.

[Kathy Moser]

Thanks so much for taking the time to reply.  He has offered seller financing but I was thinking having a pre-approval from his bank would be useful.