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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Criminal Law
Satisfied Customers: 111657
Experience:  Attorney with over 20 years law enforcement, prosecution, civil rights and defense experience
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This is ***** in Las Vegas, NV. Im a licensed realtor. I

Customer Question

This is ***** in Las Vegas, NV. Im a licensed realtor. I have a listing that I'm selling. There is another agent who brought in the buyer. The buyer is named "Plasterer". We are getting ready to close escrow next week and the other agent just phoned me to tell me that Bank of America is doing the loan for the buyer. They told the other agent that any listing with my name on it, they will not do the transaction.
I've been a licensed realtor for 28 years. I have never been notified that I've done anything that would warrant this type of action. I sold two homes in September of 2015 with Bank of America as the lender and I never heard of that before.
Can a bank make this type of call? And, I've never been notified. It sounds really strange to me and not legal.
I'm waiting to speak with the loan officer but I wanted to see if this sounded legal to you.
Please advise
Submitted: 8 months ago.
Category: Criminal Law
Expert:  Law Educator, Esq. replied 8 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
BoA makes their own rules as there is no law forcing them to do business with anyone, but this sounds more like a personal issue with the loan officer. This is not something from the bank, chances are it is something personal with the loan agent, since this is not very common. It is not illegal to refuse to deal with listings of a particular agent according to any laws, unless they are doing so based only on your age/race/sex/disability/national origin. You need to go beyond the loan agent, you need to go to the bank supervisors regarding the issue to find out what the problem is and you should not discuss it with the loan agent.
I am afraid though that if they refuse to deal with you, that is their right (silly, but the law does not prohibit it). However, in that case, if there is another agent you can trust to transfer the listing to in name only and who will agree, then you can beat them and still get the loan approved.
Customer: replied 8 months ago.
I found out that the broker that I used to work for is in litigation w BOA. It doesn't have to do w me. Thankyou and I was seriously thinking how to deal w this since I knew it couldn't be me... The discomfort and time I spent was awful..
Expert:  Law Educator, Esq. replied 8 months ago.
Thank you for your reply.
You need to contact supervisors at the bank to let them know what is going on if you cannot get this resolved. If you USED to work with the broker, then this should not be an issue though, as you no longer have a connection to that broker.