Damon Botticelli
  • Las Vegas, NV
  • United States
  • NV
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Damon Botticelli's Discussions

Foreign National Seller - Wachovia

Started this discussion. Last reply by Julianne Thorne Jun 26, 2011. 6 Replies

I've got a foreign national seller with no social security number and no US tax returns.  (Remember those days?  20%- 30% down and my goldfish could get a loan.) Property used for 2nd home &…Continue

 

Damon Botticelli's Page

Latest Activity

Damon Botticelli replied to Andre Aubut's discussion FHA loan. Do you have to use PFS program. in the group FHA - HUD Short Sales
"Yes, I believe PFS is the only option.  I also think it has to have been owner occupied within the past 18 months.    The bad news: if the listing agent doesn't know about the program, they could be inexperienced and we know how…"
Aug 18, 2011
Damon Botticelli replied to Paul Silva's discussion Made it all the way to investor approval to be denied, My realtor and seller are related
"The title of the question indicates this decision is coming from the underlying investor.  Going around the issue may be easier than trying to fight it in this case.  The listing agent should refer both listing side and buyer side to 2…"
Jul 10, 2011
Julianne Thorne replied to Damon Botticelli's discussion Foreign National Seller - Wachovia
"Should not be a problem if they have a work visa or green card....And, yes, the TIN will be inperative....And the IRS will want to know.... "
Jun 26, 2011
Bryant Tutas replied to Damon Botticelli's discussion Foreign National Seller - Wachovia
"Hi Damon. My seller had her CPA file for an exception with the IRS. Once we received the letter form the IRS we were able to close without withholding. Other solutions are: Some times once the filing is done the closing agent can hold the 10% in…"
Jun 26, 2011
Damon Botticelli replied to Damon Botticelli's discussion Foreign National Seller - Wachovia
"Thanks for the replies, and I'll be certain to get a good CPA involved if the seller & I decide to pursue the short sale.    Bryant & Eric: Did either of your deals require a FIRPTA withholding?    The seller is…"
Jun 26, 2011
Eric Mieles replied to Damon Botticelli's discussion Foreign National Seller - Wachovia
"Damon,   I just closed one last week. Sellers live in Ecuador. 1st I would recommend checking to see if this qualifies under the fast track program. If it does you will only need 4 docs. -Autho Letter -Hud -Purchase agreement -Wachovia form We…"
Jun 24, 2011
Bryant Tutas replied to Damon Botticelli's discussion Foreign National Seller - Wachovia
"Damon. I just did a short sale for a foreign owner and is was very easy. My suggestion though would be for your seller to hook up with a CPA now. For one reason you will have to deal will FIRPTA.  The seller is going to need a TIN and will need…"
Jun 24, 2011
Damon Botticelli posted a discussion

Foreign National Seller - Wachovia

I've got a foreign national seller with no social security number and no US tax returns.  (Remember those days?  20%- 30% down and my goldfish could get a loan.) Property used for 2nd home & rental property.  What are the chances of a short sale approval from Wachovia without the documentation?  Has anyone dealt with this scenario before?See More
Jun 23, 2011
Damon Botticelli joined Stephanie Lim's group
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FHA - HUD Short Sales

HUD rules for FHA short sales, tips, experiences, etc.Fax LOA:  918-236-3274PH 877 622-8525See More
May 31, 2011
Damon Botticelli left a comment for Dr. Rodney K.Elkins
"Thanks for your comment about seeing some property while you're going to be in Las Vegas.  I wasn't sure how to reach you directly to continue the conversation in a less public setting.  Feel free to contact me at…"
May 24, 2011
Dr. Rodney K.Elkins left a comment for Damon Botticelli
"Damon, I am coming to Vegas on 6/5  will be there 4 days...would be interested in looking at some property there.   "
May 22, 2011
Damon Botticelli commented on Wendy Rulnick's blog post Is Early Occupancy OK for Short Sales?
"We (Las Vegas) have about 11,500 home on the market about 50% of which are short sales.  There are another 11,000 or so homes in contract, 62% of which are short sales.  However we are typically closing about 3000 homes per month, only 25%…"
May 22, 2011
Damon Botticelli replied to Karen Mathers's discussion Anyone heard of NationalQuickSale.com in the group Short Sale Referrals
"Citi mortgage just railroaded me into using them.  When I contacted Citi to start the short sale, they said we had to use NQS to process the file.  They waived the $90, and didn't mention the 1% (which is coming out the commission)…"
May 7, 2011
Damon Botticelli joined Wendy Rulnick's group
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Short Sale Referrals

Post your referral needs here! Join this group to be automatically notified of new referrals for listings or buyers!See More
May 7, 2011
Damon Botticelli replied to Cameron Piper - Keller Williams's discussion States that Require a Real Estate License to negotiate short sales
"Assembly Bill 152 which modified NRS Chapter 645F http://www.leg.state.nv.us/75th2009/Bills/AB/AB152_EN.pdf"
Apr 17, 2011
Damon Botticelli replied to Kristin D Smith's discussion Electronic Signature-friendly Lenders? Please Post...
"How about Chase?  "
Apr 1, 2011

Profile Information

First Name
Damon
Last Name
Botticelli
Are you a...
Agent
State
NV
City
Las Vegas

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At 4:45pm on May 22, 2011, Dr. Rodney K.Elkins said…

Damon, I am coming to Vegas on 6/5  will be there 4 days...would be interested in looking at some property there. 

 

 
 
 

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