I don't assume it's illegal... and as long as all the disclosures to the buyer have been provided by the agent/lender I don't see a problem.

 You will see more and more of the loan brokers writing contracts. They need to live since there are no one wanting to refin for higher interest rate mortgages. For every 1% interest rate increase the buyers will have to pay 10% more for same mortgage.  Many loan brokers are bleeding. Furthermore, Wells Fargo will close 4,000 branches this year and reduce staff accordingly.

I would want a pre qual signed by his/her manager. I would hold them to a higher standard and watch like a hawk

If they are licensed for both, that could be one way to stay on top of the mortgage!

As long as they are properly licensed...

I would treat him or her like any other Buyer but hold him or her to a higher standard... 

As long as they take care of business it wouldn't matter to me.

Handle this like any other transaction.

Not that uncommon. If he's good at both, you're in great shape. It is hard to wear two hats, though.

I would handle it like any other transaction.

First, you don't have to worry about a lack of communication between the two. Second, it's very likely that closing will come off without a glitch.

William Piotrowski - interesting. Will come back to see other answers.

Though I believe lenders do have a right to buy the homes....lol..

I've never ran into a situation like this before.

That is awesome. Congratulation.

However, I would require that the buyer/lender be cross-examined by your trusted lender.

Many lenders out here have licenses.  Apparently often enough people start with a refi and end up selling.  At least the agent will have good communication with the lender!  LOL!!!! 

Not a fan of that at all.

That happens a lot in my area. I manage those files daily to ensure all is getting done. 

As long as s/he is appropriately licensed for both should be OK, wtih proper disclsoures, etc.

William, I had one last year where the buyer's broker was the broker, lender and closing agent. There were a lot of shenanigans going on in that deal. Fortunately, my attorney is like a ninja and he went after them and made sure they stayed on course. They tried to slip $8000 of expenses onto my clients side of the HUD. 

Lets have that conversation. I did a deal where the buyer agent also ran an escrow company staffed with his family. As long as you perform, no problem

Hmm - doesn't sound too kosher; conflict?

If the buyer agent is also the buyer and the lender is rolled into one.... that's an interesting one. So due diligence is the key. OK, what are the terms of his approved loan? Who is underwriting the loan? What is the down? What kind of  loan? And I would call his manager for an oversight on the loan to make sure it's 'legit' as we say and for an oversight from above and hold this manager 'responsible'.

So, what seems to be the problem here?

Happens all the time.  Pretty neat that the lender has a vested interest in an on time closing.

Just go with the flow.  (Unless, it's illegal.)

The seller makes the decision.

He/she should be able to easily keep you updated on the loan status!

As long as they are licensed for both..no problem. Just closed one (I've done transactions with this lender/agent before) and it went like clock work!

Have you seen the preapproval letter?

William Piotrowski Legat in my State as long as the person is licensed to do both.

It's not as common as it used to be around here, but back in the day, I knew a lot of agents that did both so while it's a potential concern (pending) more today, I'm so used to it I'm not sure how concerned I'd be personally.

do the deal

Well, lenders need a place to live too. Proceed as usual.

Is the buyer a part time agent or a part time lender?

You know what they say about an attorney who represents them-self.

Too many hats, not enough 'heads' for the transaction. Not good in my estimation having all those fingers in the pie.

Good Luck

A lot less phone time for sure!

Good luck.

I find that to be unual and in 26 years I have never seen that.

If they are a Realtor doing their clients loans I would be happier than if they are a Loan Officer dabbling as a Realtor. 

I may want to have this buyer get pre-approved thru my lender as a backup or to confirm their ability to purchase.

Run, Forrest, Run!

It's legal in CO, as long as they disclose properly (5.22 Dual Status Disclosure) so I'll ask back: what are the rules/regulations in your area? If it's legal, deal with it. If it's not legal, deal with it differently. :0)

Assumption: the person is properly licensed for both. I guess I'd advise checking their license statuses as well.

I don't know what the disclosure laws are in your state. Talk with your broker about some red flags you might want to look out for. 

I am not real keen on this but lne less person passing the buck

Well at least the lender will have an incentive to make sure the deal goes through.  May be an ethical or possibly legal issue here though, be careful.

Great news, I really appreciate the offer.

as long as the buyer has been properly pre-approved, I don't see a problem with it.... the seller could request one other mortgage broker pre approve that buyer, even if the buyer did not use that mortgage person....

This could be a good thing with the buyer's agent being able to keep me up to date on the loan status.  The transaction might even close early!

 As long as it is legal, full disclosure, etc.

I had that happen a couple of months ago and it felt very weird. I expected it to fall apart but everything went so smoothly we closed 2 weeks early.

Thoughts? Grats on the sale!

Review the offer and then present to the seller.   Trust and verify.