BAC pre-qual with REO

[Lee G.]

Anyone ever run into a requirement to pre-qual for a loan with BAC for them to even look at an offer?

We made an all cash offer on a duplex that's REO by Bank of America and the listing agent required us to pre-qual with BAC before submitting it. Our offer included several proof of funds letters and they still required it. Anyone ever run into this?

[Jake Kucheck]

What might be effective is simply calling the loan officer, and saying that despite you submitting a cash offer, you have been asked to pre-qualify through him. He will either realize how backwards this is, and you will get an email from the agent shortly thereafter, or he will be an idiot too. If he's an idiot too... move on to the next property, you're not going to want to deal with an entire escrow of these people.