Bank Owned Properties/REOs: Multiple Pre-Approvals... ~ Buyers you may have to get pre-approved by more than one lender - after all!

I've been so busy working on the listing side, I have not been noticing the variety of Agent Confidential remarks that are popping up on the listings these days.

This one is one that is becoming more popular and annoying:

Buyer must be pre-approved with the "seller's sponsored mortgage company" - not required to use this lender, can use your own.  This requirement can delay a buyer from putting in an offer in time to be considered, the way properties are moving into Pending these days!  While the buyer is trying to get in touch with the bank's sponsored Mortgage consultant, the property is now in Pending!!!

It works better or faster when the seller require that the buyer is pre-approved by a direct lender -- doesn't it???  And I wonder when this will catch on with short sales too - or will it?

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