From: 
Newsgroups: alt.invest.real-estate
Subject: Lender imposed if buying property,  please reply
Date: Fri, 25 Mar 2005 08:10:20 GMT

Hi,  I'm looking to buy a house in california.  However,  after the offer,
the counter offer specified I MUST use the lender of the seller to get the
loan.  I have excellent credit and already have a pre-approval with another
company.

I just wonder if this practice is legal,  and if it is a legal clause that
prevent me from buying that house.
To me it seems they are taking advantage of the fact the know I want that
house.

The seller agent has a letter from the owner of the house with instructions
to refuse any offer not being funded by that company,  leaving me no other
option if I want to get that house.

I'm paying their price and closing cost.

What can I do if I want to use a different mortgage company?

Please reply,

Thanks in advance.