Here one for everyone ,we have a 66 arce parcal 2 miles off the grid ,and over half of the land is rock ,no power(solar only) ,and a naurtal spring is the source of water, was listed at 75,000 ,got a…Continue
Anyone dealing with them, I have them on 2nd lender ,and they are trying to cut the commission to 4% from 1st lender approved 6% ,and buyers closing , It doesn't affect there net at all ,but they…Continue
"I think the other statement here is true don't do it for them ,they will have to pursue it all. Banks will reduced it after the short sale is done, or if they trouble are that bad BK might be best get rid of everything that way ,which a…"
"3905 Guy Rd Reno,NV
Cmps showed 75.000 was a strong list price listed property and got a offer at 60.000
summited short sale offer ,they came back and said we should have listed it at 150.000
and approve the sale at 135,000 , buyer does…"
"I would cancel and put in back on the market the banks will work better on a extend that way ,and maybe the buyer will wake up that way, letter in han
d take it or leave. The fact your in the middle of a buyer flip with BOA on board is really…"
"Haa...I would send them the new EATON ruling. they cannot foreclose if they don't own the note and mortgage. They don't have to hold it physically but they must have rights to both. If they have already stated they…"
"John. It's unfortunate but some short sales just won't happen. This may be one of them. I'd place it back on the market at $150,000 then slowly start reducing again until you find another buyer. By that time the investors valuation…"
Here one for everyone ,we have a 66 arce parcal 2 miles off the grid ,and over half of the land is rock ,no power(solar only) ,and a naurtal spring is the source of water, was listed at 75,000 ,got a offer for 60,000 BOA investor counters us at 150,000 almost 3 times the value. Had a formal appraisal done came in at 60,000. the investor refuses to come down to the value. The seller has been to medititon once already ,and the bank clearly has no paperwrok for the land or the note ,but yet…See More
"Over the years PNC in 2nd lien is a nightmare. the best I have ever got after a hard fight was 20% of the debit, and we all had to pitch in to make it happen, buyer, both agents ,and sellers. Good Luck but them or…"
"I think with all the new changes your going to see all 2nd liens harder to just walk away from now. Ask for a promissory note, And I have done short sale now from 2005 ,and seen many changes, But the first thing is too be nice to the people on…"
I'm a Nevada/Calif. Realtor and for the last 12+ years have been doing short Sales and by end of the month will have closed 40+ and 20 more working to date
I have seen a lot of what banks will do !! Hope to learn from and share with some too. Short Sales have slow down now in the market. I work in South lake Tahoe ,Ca. and Reno/Sparks Nv.
Ok In the last 2 weeks have had 3 BPO's or Appraisals come back 20,000 to 30,000. over the market comps,and lenders asking for 88% of the amount to there Net. Which is higher than any comps even in the last year here in Nevada.
Anyone one else seeing this new trend starting to happen?
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