"The problem not that the seller and listing agent are related. The issue lies in the fact that buyer is using an agent who is related to the seller. That makes it a non-arms length transaction. A relationship cannot cross the…"
Paul Silva's Discussions
Made it all the way to investor approval to be denied, My realtor and seller are related
Started this discussion. Last reply by Rodney Mason May 20. 103 Replies 1 Like
I am a buyer that found a house on realitor.com I did not have a realitor so i contacted the listing agent directly. we put in a offer at fair market value and got all the way to investor…Continue
Paul Silva's Page
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Beverly Cibulsky replied to Paul Silva's discussion Made it all the way to investor approval to be denied, My realtor and seller are related"Did we ever hear back from Paul? Did he get the home?
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Carolyn Lien commented on Paul Silva's blog post BofA Short sale Help"Hi Paul,
Yes they can. You should be able to do everything right on Equator. I just had a former Countrywide loan - now BOA approved. It took about 3 months total but my sellers were in 2 different states and rather slow at getting…"
Paul Silva joined Wendy Rulnick's group
Bank of America Short Sales
This group is for information, tips and solutions for Bank of America short sales. Click the link below for the Bank Of America Agent Resource CenterSee More
moshe robinowitz replied to Paul Silva's discussion Made it all the way to investor approval to be denied, My realtor and seller are related"have the seller put you as listing broker and resubmitt file"
joe beauchamp replied to Paul Silva's discussion Made it all the way to investor approval to be denied, My realtor and seller are related"Here is the BOA SS addendum (most recent). The fact this this had been changed because of a dual agency clause indicates that it isn't in stone. As you see at item 3 you have an issue:
This Addendum to Purchase Contract is entered…"
Darlene Root replied to Paul Silva's discussion Made it all the way to investor approval to be denied, My realtor and seller are related"Not sure if it is 7 or 8, however this issue fall under "Familial status" according to Fair Housing."
"Anyone can discriminate. You just can't discriminate for one of those 7 reasons - or is it 8 now? :)"
Darlene Root replied to Paul Silva's discussion Made it all the way to investor approval to be denied, My realtor and seller are related"Funny how the lender and/or investor think that they can call the shots here. What they fail to realize is that they are not a party to the contact. They only have a lien that they can release. Never in my 32 years of real estate…"
Jeff Payne replied to Paul Silva's discussion Made it all the way to investor approval to be denied, My realtor and seller are related"+1, I agree 100%!!! Do the RIGHT thing and don't be so concerned about the money. Funny part is that if you do that, the money will come to you 10 fold!"
"Paul
Bof A does allow the seller and listing agent to be related and still pay a commision it is still an arms length transaction .However The buyers agent cannot be related to the seller becuase that is not an arms length…"
Joan Psarros, CDPE, CRS, SFR replied to Paul Silva's discussion Made it all the way to investor approval to be denied, My realtor and seller are related"My last clients had tried unsuccessfully for many months to do a loan modification. Then they received a call from Chase to do a shortsale and they would receive $10,000 when they closed (which they did receive). So, I am wondering if…"
Christina Conrad replied to Paul Silva's discussion Made it all the way to investor approval to be denied, My realtor and seller are related"So, this money incentive..Chase is contacting the sellers? This is something that we can request for the sellers?"
Kathy Dyer Realtor Rosevillle Ca replied to Paul Silva's discussion Made it all the way to investor approval to be denied, My realtor and seller are related"I
I just closed a Chase short sale that my clients got 30K also acquired from WaMu. The word is that maybe Chase does not have all the paper work to support doing a foreclosure. Only a select few people are solicited by Chase to qualify for this…"
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Paul Silva's Blog
BofA Short sale Help
Posted on July 27, 2011 at 1:30pm 2 Comments 0 Likes
I am under contract with a BofA short sale, the investor is countrywide funding. I think BofA owns them now, will BofA be able to approve the short sale if they now own countywide?
Thanks for your time!!!
Paul
Thanks for your time!!!
Paul
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