Does listing agent need my mortgage payoff and social security number? (sales, attorney)
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Location: Stuck on the East Coast, hoping to head West
4,640 posts, read 11,931,469 times
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I found a listing agent I like and I think i can work with him. The thing is he asked for my mortgage payoff, mortgage account number, social security number. I don't think he needs that information. I should add he's been in the area for 35 years, is well-regarded. I just don't want to share all of that information.
I can afford to sell and pay all associated costs, but I don't want to share the rest of that information with him. No way. I just want him to sell my house.
So far, I simply told him that I can afford to sell the house. I'm thinking about getting a letter from my bank or something?
We don't need SS number for anything, but title and escrow will, and these details vary by locale, so the only thing that really matters is how it's done where you are. Did you ask him why he needs the info? I think it's fair for you to ask.
On the loan payoff amount, it could be he just wants to be able to work up a net sheet for you, and if it was close, to be sure it's not a short sale.
NEVER a Social Security number. I don’t want any responsibility for it.
And I can guesstimate your loan balance within $10,000 off your recorded deed of trust and you can tweak your net.
All I want to know is that you can afford to sell.
That’s from short sales, ten years ago.
Could be normal for your location, but I don't want a SSN or account number if I don't have to get it. Sometimes I'll help the closing attorney get it from a client but that's only after we go under contract and the attorney is ordering the payoff. When I do the sellers net sheet I do need the estimated payoff for accurate calculations.
If you're doing a short sale, then those requests would be understandable, if not I stand by my above comments.
I've provided that information to the company that was doing the closing on my house sale, but never to my real estate agent. S/he (they're a couple) never asked for that information either. I did tell them that my previous house was paid off, but that was all.
I found a listing agent I like and I think i can work with him. The thing is he asked for my mortgage payoff, mortgage account number, social security number. I don't think he needs that information. I should add he's been in the area for 35 years, is well-regarded. I just don't want to share all of that information.
I can afford to sell and pay all associated costs, but I don't want to share the rest of that information with him. No way. I just want him to sell my house.
So far, I simply told him that I can afford to sell the house. I'm thinking about getting a letter from my bank or something?
Absolutely not. A real estate agent doesn't need, and should not request, a social security number. Why he thinks he needs it is irrelevant. Don't supply it.
I found a listing agent I like and I think i can work with him. The thing is he asked for my mortgage payoff, mortgage account number, social security number. I don't think he needs that information. I should add he's been in the area for 35 years, is well-regarded. I just don't want to share all of that information.
I can afford to sell and pay all associated costs, but I don't want to share the rest of that information with him. No way. I just want him to sell my house.
So far, I simply told him that I can afford to sell the house. I'm thinking about getting a letter from my bank or something?
when you are under contract to close the sale, some closing agent will require this info. Until then - unless you are giving off a vibe of "can't pay off the mortgage when I sell", then I'd start by asking why and politely declining
Location: Stuck on the East Coast, hoping to head West
4,640 posts, read 11,931,469 times
Reputation: 9885
To update:
I ended up telling him that I didn't know the payoff amount of the top of my head. I then told him that I could afford to sell, wasn't underwater, and could provide a letter from my bank if he needed one. He then said that was fine and that he would do the write-up (that shows our net after selling costs) and leave the pay-off amount blank.
He then said the escrow company would need our social security numbers/mortgage info when we close. I'm still not giving him my social.
What I found most troubling is that he requested our social security numbers via email, which obviously is not secure at all.
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