Robin McCoy
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  • United States
  • TX
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I'm on the buyer side of a short sale transaction going nowhere....

Started this discussion. Last reply by Robin McCoy Jun 19, 2011. 26 Replies

As an agent that has never done a short sale I am woefully unaware of how this process should go. Until today. My very interested and patient buyer submitted an offer many weeks ago. The listing…Continue

 

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Robin McCoy replied to Robin McCoy's discussion I'm on the buyer side of a short sale transaction going nowhere....
"Thank you so much for all of the information. I have still not received a response from the listing agent. I have advised my client that we just move on. He doesn't have any money in the game as we don't even have an executed contract.…"
Jun 19, 2011
Kimberley Kelly replied to Robin McCoy's discussion I'm on the buyer side of a short sale transaction going nowhere....
"As a Short Sale Listing Agent here in the Palm Springs, CA area..I can tell you I LOVE a Buyer's Agent that actually asks me intelligent questions.  Bryan is right..the Buyer's Agent MUST understand the Short Sale process. …"
Jun 18, 2011
Jim Schneider replied to Robin McCoy's discussion I'm on the buyer side of a short sale transaction going nowhere....
"Robin, some inspriration. I was able to save two short sales for different buyer clients of mine this week, because I understood some items about the short sale process that the seller's short sale negotiator did not. I was able to work with…"
Jun 17, 2011
Jeff Payne replied to Robin McCoy's discussion I'm on the buyer side of a short sale transaction going nowhere....
"Robin, I think that the agents on the panel are probably frustrated when a buyers agent can not explain the process to a buyer and that is because most buyers agents dont have the need to know the process from a listing side.  I will talk to…"
Jun 15, 2011
Jeff Payne replied to Robin McCoy's discussion I'm on the buyer side of a short sale transaction going nowhere....
"Jim, that is great advice.  We are in a small market so we can easily tell who knows what they are doing.  You have to do your homework to protect your buyer. I always wondered how an agent would handle "How many short sales have you…"
Jun 15, 2011
Jim Schneider replied to Robin McCoy's discussion I'm on the buyer side of a short sale transaction going nowhere....
"Robin, just one other little thing, rather than asking a listing agent if they have done a short sale, check their past sales, as well as expired and cancelled listings. You'll get a more accurate picture of how likely their short sale is to…"
Jun 15, 2011
Eric Mieles replied to Robin McCoy's discussion I'm on the buyer side of a short sale transaction going nowhere....
"Yes sir! I agree. I'm 100% all for education. I just recently received my Five Star designation however I was more concerned with the networking, learning and absorbing all that I can. I love the short sale niche and will continue to read and…"
Jun 15, 2011
Jeff Payne replied to Robin McCoy's discussion I'm on the buyer side of a short sale transaction going nowhere....
"Thanks Eric, I think that you and I are alot alike :)  I come from the school of hard knocks when it comes to short sales.  I think that any education is a GREAT and all of the education that you can get it is even better.  The…"
Jun 15, 2011
Robin McCoy replied to Robin McCoy's discussion I'm on the buyer side of a short sale transaction going nowhere....
"I think a class of some sort for buyer's agents would be extremely helpful. Some of the panel at the class yesterday got a bit defensive saying buyer's agents don't educate their clients. Obviously we need education too then...The…"
Jun 15, 2011
Eric Mieles replied to Robin McCoy's discussion I'm on the buyer side of a short sale transaction going nowhere....
"Jeff, spot on. I think you are correct and there is an opportunity for a class such as that one. It would help a lot not only the buyers agent but also buyers who are misinformed and not wanting to put offers in on ss because of what they perceive…"
Jun 15, 2011
Eric Mieles replied to Robin McCoy's discussion I'm on the buyer side of a short sale transaction going nowhere....
"Harry you make great points however I agree with what Jeff is saying as well. I have yet to see a certification course go over the details you learn from just "DOING" and learning. Obviously we don't want people jumping in blidnly and…"
Jun 15, 2011
Jeff Payne replied to Robin McCoy's discussion I'm on the buyer side of a short sale transaction going nowhere....
"I think that a short sale buyers agent class would be great, is there anything like that out there?  Buyers agents, no offense to buyers agents on here, are typically the biggest challenge we have here in my area. Impatient, not understanding…"
Jun 15, 2011
Robin McCoy replied to Robin McCoy's discussion I'm on the buyer side of a short sale transaction going nowhere....
"Harry I agree I can do with more education. I don't see a lot of short sales in my business and bumped into this one. Aside from my being uneducated, the listing agent is as well. While the KW Short Sale class is, as Jeff stated, a great first…"
Jun 15, 2011
Jeff Payne replied to Robin McCoy's discussion I'm on the buyer side of a short sale transaction going nowhere....
"Harry I agree with you on all points but one :)  Having a nationally recognized certification really just means that you passed the class.  In my area, the CDPE agents really struggle, not because CDPE is not good, it is because passing a…"
Jun 15, 2011
Jeff Payne replied to Robin McCoy's discussion I'm on the buyer side of a short sale transaction going nowhere....
"Robin, check your email, I just sent my listing agent questionaire to you.  Good luck!"
Jun 15, 2011
Robin McCoy replied to Robin McCoy's discussion I'm on the buyer side of a short sale transaction going nowhere....
"Thank you all so very much for your help. I feel a thousand times smarter already. I think it is time to cut our losses and move on."
Jun 15, 2011

Profile Information

First Name
Robin
Last Name
McCoy
State
TX
City
Dallas

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At 3:57pm on June 14, 2011, Jeff Payne said…
Post it in the specific group, the blog gets very little activity
At 3:47pm on June 14, 2011, Jeff Payne said…
Welcome Robin
 
 
 

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