San Leandro, CA asked in Real Estate Law for California

Q: In California is a realtor entitled to ask for buyer's bank statements, after the lender's pre-approval letter is done?

My realtor asked for my bank statements (already provided to my lender), even after she received a copy of my mortgage loan pre-approval letter. When I questioned her request, she said the bank that owns the property needs it. The property is an REO. I gave her copies of my bank statements, then asked a relative who had purchased an REO property about five years ago if she had to give her bank statements to her realtor. My relative said "NO".

I feel exposed and vulnerable as I have no idea what my realtor will do with my bank statements later, and would like to know if California realtors are subject to confidentiality laws?

Related Topics:
1 Lawyer Answer
Richard Samuel Price
Richard Samuel Price
Answered
  • Redlands, CA
  • Licensed in California

A: Have a frank talk with your real estate agent. Express your concerns about your privacy. If you don't get the answers that you need, talk to the real estate agent's broker. Without knowing more about your transaction, it's difficult to know whether the request was valid.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.