Tags:
Thom,
Although there are many scenarios out there and I would think most agents generally would want to help the consumer and public. As a buyer, I wouldn't and should never ask anyone to take a chance on their career. There are however, people who could care less. My agent's rule-of-thumb, if it looks suspicious according to the law, pass on it. Thom, your advice in being cautious and CYA are great words of wisdom.........
I just started taking these kind of clients but I make sure I bring them first to the Real State Attorney and accountant. Then, I feel a lot better that they received an advice from the professionals. What they do from there is up to them. They were warned. I make sure I have them sign a letter releasing me from liablity because I advised them to seek counsel and were given advise. I find a home for the homeowner and make sure I have the advise of the lawyer at all times when I short sale the house. The lawyer is also hired to help get approval on the short sale. I will NOT do this without the help of a lawyer. One month missed mortgage of the homeowners to pay a lawyer is all worth it! That releases me from laibility.
I just picked up a listing where the seller knew he would be downsized so decided to move to the Midwest for lower cost of living. He purchased a property in the Chicago area. His house was listed as a regular sale, however, after a few months it is not selling at the current price and any price reduction would be a short sale. He has owned the property in the Midwest for about 6 months. We will be bringing his current home with one Citimortgage loan to market. Is there going to be a problem in that he recently purchased something?
© 2024 Created by Brett Goldsmith. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.