FACTS:

The seller received an offer on the residential property with a pre-qualification form attached.  The listing agent is aware of the lender identified in the prequalification form and is of the opinion that it will not be able to fund the loan timely.  Based on that opinion, the seller wants to submit a counter offer requiring the buyer to obtain financing from a different lender.

ISSUE:

May the seller submit a counteroffer requesting a different lender on the prequalification form?

ANSWER:

Yes.

DISCUSSION:

A seller is under no compulsion to accept an offer with terms that are unacceptable.  Here, because the seller believes in good faith that the lender identified in the prequalification form will not be able to perform, the seller can either reject the offer altogether or counter, requiring a different lender.