"Why are the negotiators always out on maternity leave once they pick a price they can settle for and we actually get it and then are denied. I've had that happen three times!
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Teresa Simon's Discussions
Disclosing short sale bottom price...
Started this discussion. Last reply by Becky Martin Apr 11. 6 Replies 0 Likes
I don't have time to dig tonight, and the information is probably here. I took a SS class that said if you disclose the banks bottom price your client can be disqualified for a short sale or a DIL.…Continue
What percentage of short sales are your lead short sale closing offices actually closing?
Started this discussion. Last reply by Teresa Simon Feb 8. 8 Replies 0 Likes
I attended a brown bag lunch at the local association last week. The speakers were the closing office attorneys doing the majority short sales in our area. They flyer saying to come out to this…Continue
I have personally bonused being part of the Advanced Traing Group! What is keeping you from joining?
Started this discussion. Last reply by Tni LeBlanc Feb 5. 6 Replies 0 Likes
Just having help closing a deal made it worth it taking the worry and pain out of the paperwork, especially HUD-1 issues.Bryant and Wendy thanks for your personal input on a timely basis. It saved me…Continue
Looking for a good basic short sale program for organizing files w/o the hype & program salesmanship.
Started this discussion. Last reply by Becky Martin Feb 7. 14 Replies 0 Likes
We, an attorney paralegal and myself sat and watched as much of a webinar as we could bare today. With the reinvention of the mls, pictures, and repeat information, the ongoing reference to…Continue
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Teresa Simon replied to Brenda Rogers's discussion WORLD'S LAMEST WELLS FARGO PROCESSOR HAS TICKED ME OFF!!! in the group Wells Fargo Short SalesTeresa Simon commented on Wendy Rulnick's group Wells Fargo Short Sales"Wells Fargo has been talking to the attorneys office and paperwork has been going back and forth recently. Yesterday the paralegal was told the file was closed in February even there is an open offer. Who should we contact at this…"
Teresa Simon joined Wendy Rulnick's group
Wells Fargo Short Sales
Wells Fargo and ASC (America's Servicing Company)This group is for information, tips and solutions for Wells Fargo short sales.See More
Becky Martin replied to Teresa Simon's discussion Disclosing short sale bottom price..."Amen to that:) Another reason I like SSC since you can take the net and calculate the closing cost on a created HUD to find the perfect price for buyer and seller!"
Jeff Payne replied to Teresa Simon's discussion Disclosing short sale bottom price..."I can safely say that if a negotiator tells me what they need to NET, I am certainly going to tell a buyer when coaching them on their offer."
Smitty replied to Teresa Simon's discussion Disclosing short sale bottom price..."I agree with Wendy. They won't tell you their bottomline price. They may give you an idea as Keri said by saying they want to NET X, but you'll never know for sure if X is their bottom line.
If you have a magic secret…"
Keri Sweetland replied to Teresa Simon's discussion Disclosing short sale bottom price..."Usually Wells ask for a net...you can at that point back out your HUD to reach this net and effectively the seller can counter at the appropriate price. Remember the contract is between the buyer and seller and contingent upon the…"
Wendy Rulnick replied to Teresa Simon's discussion Disclosing short sale bottom price..." I cannot imagine the Wells Fargo negotiator saying "Our bottom line is X, but don't tell the buyer.", unless I am not understanding your question."
Bryant Tutas replied to Teresa Simon's discussion Disclosing short sale bottom price..."I don't think I have ever seen this in writing but I would be cautious disclosing the bottom line to the buyer. Just as in a regular sale it's really none of their business."
Teresa Simon posted a discussionDisclosing short sale bottom price...
I don't have time to dig tonight, and the information is probably here. I took a SS class that said if you disclose the banks bottom price your client can be disqualified for a short sale or a DIL. Any idea where I can reference the information. This is a Wells Fargo and the list price is a bit too low and the offer needs to come up. They aren't countering. The bank wants the price up to submit any more paperwork. I have received HUD paperwork and I think my client is actually set up for…See More
Teresa Simon replied to Jerri Schick's discussion Non-Realty Items Outside the Contract"Leaving the personal items on the purchase and sale requires the appraiser to appraise those items in. Would the appraiser want to guess the value of those items and subtract them off the value or real property? Would the appraiser know…"
Teresa Simon replied to DIMITRI PETROVSKY's discussion Wells Fargo Unreasonable Request for Promissory Note"I am of the understanding investor loans do not fit under the IRS debt foregiveness act... Secondly... have we decided if NY is a defienciency state?
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Teresa Simon replied to DIMITRI PETROVSKY's discussion Wells Fargo Unreasonable Request for Promissory Note"xx?
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Teresa Simon replied to Lauren Michaels's discussion Seller changed listing agents at the last minute!"In Washington when a broker has committed certain crimes or in the event of death etc, it can be changed. Otherwise the listing itself stays with the originating broker even if the agent leaves and continues to work the listing. Do you…"
Teresa Simon replied to Travis Davies's discussion Met LIfe Is a Joke! Need some help!!"I was able to get help from HUD. E-mail me and I will dig for a couple HUD e-mail addresses if it is a HUD loan."
Teresa Simon replied to JB's discussion Roof Needs Replacement-Any Helpful Hints"In Eastern Washington, we have issues with sewer hook-up. When you attend a class in a place that is developed like California, the Realtors laugh about sewer hook-up requirements for FHA loans as it isn't heard of.
If you get a…"
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- Teresa
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- I am the owner of Ala Carte Realty Services LLC. I am licensed for brokerage, appraisals, ABR, GRI, CDPE, SFR, and HAFA Certified. I have invested extensively over the past 25+ years and my childhood of growing up with my family investing was what was the driving force to wanting to help others to invest.
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Help with the HUD and addendum. And THANK YOU IN ADANCE!!!
Posted on December 17, 2011 at 5:25am 6 Comments 0 Likes
Aurora has aproved a short sale but offered the second $0.
After negotiating the second (STCU a small local crdit union) will take $5K.
The buyer is willing to pay the $5K.
There are additional closing costs that Aurora did not offer to cost, approx $570.
We are having issues as to wher this information appears on the HUD-1. I am thinking line 409 as a POC for the $5k and I am not sure where the additional closing costs fees fit.
Should the adendum to the…
Continue Aurora Bank speaks of DIL and then lowers the price to $375K less 3%
Posted on December 14, 2011 at 1:28am 0 Comments 0 Likes
Both came up in the same conversation. They instructed me to send in the hardship letter again no later than October 6th, which was at least 60 days prior to the sale so they could work the DIL. They also said to give the buyer 3% off in closing costs and put it in the listing.
An offer came in at $350K with no closing costs. The bank said no, denied the first negotiators offer, wouldn't look at an addendum taking the price to $380K saying it was too late. Refused the DIL saying…
Continue Closer's assistant puts $6000 into HUD1 for seller to receive on short sale - Negotiator on first approves sale.
Posted on May 7, 2011 at 10:45am 0 Comments 0 Likes
We need to fix HUD-1. We were only given 2 weeks to close. this transaction now that it is "approved" knowing that the second hasn't been resolved because of the first REALLY BAD BEHAVIOR. Transaction has been going on since last May with totally no cooperation and this is nothing less retribution against my client.
Second wants 10-14 days to approve. First has claimed in ocuments it is HAfa but has refused to provide 184 and 185 to Second to take guaranteed HAFA. Anyone want a…
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