The devil on my shoulder says that maybe the agent was getting a kickback - whoops....incentive - from a lender he was pushing or maybe he was part of the lending company and selling/financing the deal. As skeevy as that is, it's still strange to walk away from a deal
I will say that most development lenders and developers have some agenda...nothing is as it seems.
I suggest you definatly contact the agents broker and get some explination because if your agent had really been working for you they should have been more upfront with you to the best of their ability to do so.
My old daddy used to say, there are 3 parts to a story, yours, theres and the real one. All those answers are correct, but this is really weird. I can not understand why this would make a difference to the agent, unless the agent has some prior knowledge of the lender and feels that iit is not in your best interest to use them. Or the agent is working for the lender that they wanted you to use. In Georgia, we can be loan officers as well as Realtors, as long as we disclose to the client and state so on the contract. Who knows, but would like to hear the whole story!!! If it were me I would be talking to your agents broker!!!!
Best of luck
Keller Williams Realty
The old saying regarding an agent earns there commssion when they bring that buyer through the threshold of the house and they buy.
Im sure that agent and broker will want there commssion, you need to contact the broker and get the facts.
David Brower, Assistant Manager/Realtor
That is an unusual question. Did the agent give you any reason why he thought you should not use the subdivsion lender? It seems strange to me that he would want to terminate your agreement over something like that.
Lynn is right. You should check your Buyer's Agency Agreement that you signed and I would further recommend that you contact a Georgia real estate attorney with your questions, since they are the experts on contract law and we, as Realtors, cannot give you legal advice. Best of luck.
~ National Featured Realtor and Consultant, Lecturer regarding Credit Repair, Mortgage Loan Officer