Comment

Comment by Tni LeBlanc (805) 878-9879 on December 16, 2012 at 1:08pm

Interesting.  OK I get it now.

I'm not sure the contracts or laws involved in your area.  I'm in CA.

Sounds like the seller should consult with an attorney about the listing contract involved and serve some notice on the listing brokerage to cancel the listing due to the exclusionary list and Freddie Mac's suspicion's of

fraud and the fact that the listing agent cannot perform the short sale with Freddie Mac. 

 

After serving them notice (or whatever your seller's attorney advises to serve), I personally would just take the file over. They simply cannot perform -- it's that simple.  Have someone print out the exclusionary list or other proof that they indeed are on the list -- don't assume.

 

I think your clients should also make a complaint to the state licensing entity -- this behavior is egregious since the listing agent is not cooperating with handing the file over when they cannot perform -- the seller wants a short sale - they cannot put their desire to close an double ended deal ahead of their client's interest.

Why else would they hold the file -- are they arguing that that they are mistakenly on the list?  Either way, their problem should not hurt the client and when it does I believe they have a duty to release the file.

Document everything well my friend, if they will fight with the seller when they are in the wrong, they will most certainly fight with you even though they are wrong.

 

Comment by Hairman on December 16, 2012 at 12:07pm

Fraud.

Sellers LISTING CO. is not cooperating. Seller wants Debt Forgiven. I.E. SHORT SALE.

It's a referral from a client that I have been involved in 5 transactions with.

 

Comment by Tni LeBlanc (805) 878-9879 on December 16, 2012 at 11:33am

What caused them to be placed on this list?

Why are you bothering if the seller approached you and then is not cooperating? 

What are you a miracle worker?  I say move on.