How to handle a dishonest broker?
Has anyone dealt with a broker that they lost confidence in keeping the sellers informed in good faith? How did you handle it and is it worth trying to work the deal through or is this a deal killer?
A bit more detail: The broker had the deal pre-approved with a bank and we started down that path but due to a 15% down payment requirement we decided to confirm if this is a good deal by bringing in a loan broker. Once we started asking for additional information the deal broker refused to share the information. From there he said he would ultimately tell the sellers they should walk if we choose a different bank and we won't be able to close or at least not within a reasonable time frame. The kicker is, I don't have faith he has communicated this with the sellers and is doing this on his own hoping we will come back to "his bank", assuming he wants his fee from the bank.
Any thoughts are appreciated
A bit more detail: The broker had the deal pre-approved with a bank and we started down that path but due to a 15% down payment requirement we decided to confirm if this is a good deal by bringing in a loan broker. Once we started asking for additional information the deal broker refused to share the information. From there he said he would ultimately tell the sellers they should walk if we choose a different bank and we won't be able to close or at least not within a reasonable time frame. The kicker is, I don't have faith he has communicated this with the sellers and is doing this on his own hoping we will come back to "his bank", assuming he wants his fee from the bank.
Any thoughts are appreciated