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Updated about 14 years ago,

User Stats

562
Posts
239
Votes
Sam M.
  • Real Estate Investor
  • Craigmont, ID
239
Votes |
562
Posts

What sort of Monopoly is this?

Sam M.
  • Real Estate Investor
  • Craigmont, ID
Posted

Recent REO listing 98 DOM description as follows:


Great Bank Owned Home in West Valley Pines. 5 Bedrooms, 4 Bathrooms, vaulted ceilings, mature fruit trees. Nicely landscaped yard in the pines. Very nice neighborhood in West Valley, minutes to town. Bank of America Prequalification required on all offers. Free appraisal and credit report if buyer finances through Bank of America Home Loans.

Do they have a right to require BOA prequalification? I guess since they own the property they can put whatever stipulations they want on the sale but this is the first I have seen of this in my area.
I guess it is not new as found in the note at the end of page 1 in this document. http://www.reosandshortsales.com/uploads/REO_agent_instructions_1-25-10.pdf

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