Replies to This Discussion

Permalink Reply by arod on April 24, 2012 at 10:46am

satar, i know you are not attorney but i appreciate all the advice you have given me throughout this nightmarish ordeal.

you have really helped me because as you know i have been on my own here since i really dont have a broker i can consult.

"If anything, the listing agent owes shortsalesuperstars.com a paycheck!"  ----> i agree with you and in fact if you were located in florida i would have tried to hire you to represent me on this deal to closing! as it is, i already did hire an attorney who told me i can give the sellers a bill of sale to try and purchase appliances from them. :D

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Permalink Reply by arod on April 24, 2012 at 10:28am

I agree, 100 comments is a lot.

okay, so i appreciate the spanking and that you are still suspicious of my motives but you seem to be stuck on the fact that i have never spoken to the DB.  why would i? the DB was never representing me. i hired the listing agent and he is the one that handled the whole transaction.  The DB was listed in name only. I am not hiding anything. i'm being completely transparent on these boards so i can get legitimate advice.  I absolutely do not understand shortsales so how can i represent myself? it would be self-defeating. besides i know short sales are time-intensive and i truly wanted to compensate the agent handling it. what's wrong with that?

I think your point is that it is wrong/illegal for me to have agreed to let an agent represent me that really wasnt?? Am i correct? You may want to peruse the many threads on this forum about agents double-ending their commission. they share a different opinion that you do.   everything is not so black and white.  remember the BROKERAGE gets paid not the agent. 

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Permalink Reply by arod on April 24, 2012 at 4:34pm

hey satar someone always has to ruin the party huh? lol

i'm sure that other agent means well she just gets too emotional and can't focus on the issue or goal.

gee, reminds me of me on my first post here. i was out for blood. but through helpful advice from people like yourself you helped me see that sometimes 'diplomacy' works better than 'threats & yelling' to get your goals achieved...even when you are so upset you cannot see straight.  in my case that has certainly proven the  best approach so far but i'm not above calling the agent's broker if he digs his heals in and refuses to honor his word to the sellers. 

i have spent the last hour re-reading all 100+ posts to get reacquainted with all the advice and guidance from everyone. you are right in that i forget i am a licensed agent and can get broker's agency to pay my agency the $3k. have to admit i hadn't thought of that.  i still think i'd prefer it on the hud, unless it creates an issue with my lender. 

i think tomorrow i'm going to email realtor and in a diplomatic fashion ask him to give me a $3K credit from his commissions so that i will have extra monies to purchase the spa and appliances, etc that i need for my new home...like he had suggested early in the negotiations (i have emails from him).  further, that his willingness to help out will help me in my new home and will help the sellers also who are down on their luck.  i'd also like to tell him that in order to proceed with this sale i need to know by X time tomorrow.  (the deadline is so he doesnt continue to dilly dally...and it may be when i call his broker and ask her to step in and help fix the problem.) 

i spoke to sellers on phone today at length so they would ok me trying to get the $3k on my side of the hud. they were fine with it and are so frustrated with the process and this realtor.  they also asked about post occupancy and i briefly told them i'd know more tomorrow but that my house may be going under contract and that i may have to leave asap but i would try to work out something that would be good for both of us.

now the question is how to expand on that??  my husband thinks i should avoid giving specifics and just say something like 'we cannot afford to stay in the house after closing..we have to move right away'  but that seems weird to me.  any ideas? 

p.s. i called seller's moving company and they told me that they would agree to hold their furniture in storage for a week for FREE !  i will also mention this to them. (btw, YES, i got your point about why i can't use the lawyer as an excuse..bc this is another example of how i've also solved their problem for them). ;D

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Permalink Reply by Satar Naghshineh on April 24, 2012 at 5:48pm

They mean well. I am one of the coolest and calmest person you'll ever meet. In our business, when someone doesn't understand an issue or a situation, they are quick to claim fraud. I am involved in a short sale flip situation right now that almost all the players have bailed and I am the only one still around (so I am either a brave soul or a moron!). The buyer's agent (A to B) is so scared he called and told me he is cancelled his agency relationship with the buyer. So I am the only agent involved in an A to B and a B to C and pretty soon C to D flip! Hopefully another agent steps in to represent D! 

I was lucky in that I had the best short sale training and information. However, I decided to get licensed because all the training I had was to take advantage of the homeowner. So I got licensed and developed a short sale system that is a hybrid model of the investor and agent model. As soon as I got licensed, the market tanked two months later and I was a fish in water. Anyway to answer your questions:

1. I would call the agent, do not e-mail. You do not want anything in writing about any possible money going to sellers. Deadline is great, but give the guy a day at least.

2. Husband is correct. Keep it simple. The more info you give, the more they will try to find a solution for you so they can stay. You being forced to move is great. Explain how stressed you are with the move and how nice it is that someone like the sellers can relate to you. Avoid using the term "house" or "home" with the sellers, instead use "property".

3. Keep positive about everyone involved. As easy it is to talk bad about the listing agent, do not do so. If there are any negative feelings expressed, let it come from the sellers.

4. Your lender will not have an issue with the 3k. It's no different than the seller making that contribution and it is minimal. Another option to keep it on the HUD is to have the listing agent credit the $2800 that you were going to pay towards the seller's lien release.

5. Chances are the listing agent's broker is going to take the listing agent's side on this. The fact that he/she contacted you about who's idea it was for the spa tells me that that broker already knows what's going on and is prying to see if you have anything to do with how this transaction is being handled regarding the seller's attitude. Approaching the broker will need to be done in a careful manner.

6. The appliances and bill of sale is legal, always was. However, it can't be related to the sale of the property. In other words, you can't make the purchase of the appliances contingent on the purchase of the property. It has to be a separate and independent agreement. That's why it is a waste of time. Just make a verbal agreement.

If Bryant decides he no longer likes this topic to be discussed or upgrades his Smite button to a functional button which has rainbows and happy faces, feel free to contact me via e-mail at [email protected].

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Permalink Reply by arod on April 25, 2012 at 6:53am

"I am one of the coolest and calmest person you'll ever meet"  ---> i agree wholeheartedly. that is one of the most important tools as a negotiator.... (did you ever see that movie The Negotiator i think its called with Kevin Spacey?) especially when you are dealing with very emotional sellers and buyers (like me)! lol  ahhh those crazy ppl.  lol  

your short sale flip situation sounds like it would drive me to drink. i think in these unchartered waters and in times of market uncertainty being a negotiator is a highly specialized & coveted profession. Of course i realize this only now that i'm embedded in it.

Thank you again for your help satar!

To clarify a few points:

1.  I'd really hate to have to call the shady agent.  i know i'm trying to use diplomacy here but i have not spoken to him and only communicate via email since i discovered the bogus fee.  I'm considering calling his broker instead. I don't think she is aware of anything going on.  I have never communicated with her. It wasnt her, but the agent himself that sent me the email about the sellers trying to sell him the spa. 

I was thinking of fwd'ing the agent early emails he had sent me asking me if i was interested in purchasing appliances from sellers. I could say something like, as my agent you can credit me $3k in commissions on the HUD to help me out because i need appliances for my new home -- just like you suggested i do in these earlier emails.   

what say you?

2. also, i wrote the sellers a short while ago regarding staying past closing. tried to keep it simple and very diplomatic. I explained my personal reason for not being able to do post occupancy and outlined our recent costs with something like, 'i'm glad i have someone that can relate...like you, we are financially strapped. we have had to pay for X, X, X, X related to this purchase.  We can't do post occupancy but maybe we can help each other. i need appliances. can you sell me X and X.  I even called your moving company and negotiated for them to give you free services and reduced cost of x and x."    

So, now waiting to hear back from them and trying to figure out what to do about the shady realtor.    

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