Okay, I see a new listing in our MLS system and under the description it reads and may I quote, "Send Copy Of Preapproved Mortgage Letter and EM Check W/Offer. Seller Counters With Addendums".
My couple LOVE the home and want to make a full price offer also asking Seller to pay 6% closing cost! Spoke to their loan officer, from local bank, and she proceeds to tell me "he's ROCK SOLID" go ahead. We submit our offer on Friday along with everything requested in MLS info and give them a time limit of five(5) days due to the weekend & being a bank owned property. Get a call from agent on Monday wanting to know where counter is....uhhh what counter? Find out he sent to wrong email address so they resend via email. Long story short.....seems as though we are in agreement.
Then comes the addendum! I will definitely quote on this one: "As part of the offer acceptance the buyer agrees to use Seller Financing through #@%. The buyer agrees that if they decide to use their own lender than this contract is null and void, cancelled, and seller is to retain half of the buyer's earnest money. If the buyer can not qualify for Seller Financing the contract will be null and void and all earnest money deposit shall be returned to the buyer.
So, I call buyers and let them know about this stipulation and then I have to "calm them down". 
Long story short....they really LOVE the home so we agree on a time to meet and do the paperwork. He comes by my office this morning with the prequal paperwork from #@% and on the first page (1 of 4) and I am definitely quoting, reads the following: PLEASE ALSO NOTE THAT YOU ARE NOT REQUIRED TO PAY A FEE IN ORDER TO BE PREQUALIFIED BY #@%, AND YOU ARE NOT REQUIRED TO USE #@% TO FINANCE THE PURCHASE OF THE REO PROPERTY. YOU MAY USE ANY LENDER FOR MORTGAGE LOAN FINANCING.
EXCUSE me??? What are your thoughts? Me, I am listening to my Thursday Tune and "chill out" for now....
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