What's your story?  Is your client being forced into Auction.com?

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I spoke with our Division of Real Estate and they asked me to send in all of the information.  He said they would probably meet the the AG's office on the matter!

I can't see them condoning this since none of the offers are going through my seller, the owner of the property.  I will keep you posted.

I' m hoping all this from Auction.com is in writing. If not I would tell them to put it in writing. Does the Federal Law prohibiting financial institutions from practicing real estate apply to Nation Star?

What happens if you decide not to participate with the open houses?  What's the penalty for not doing THEIR open houses???  I'm assuming you never signed a contract with them to represent them.  What if you hold the house open each day for about 5 minutes.  Another idea would be to make it difficult for the lookers to actually see the house.  Make them fill out a long registration form and require them to show their driver's license.  Of course this is only for safety reasons.  I'd also make it known that the house is "now" under contract.    I sorry if these questions have already been answered.

Why not get together with your respective boards and write the process out of the short sale contract as best you can? Put it back on the lender.

That would not be in the best interest of your client / seller and I suspect it would be an Equal Housing Issue if you don't ALWAYS operate in that manner.   I have not seen the Agreement from Auction.com - although they say (through Nationstar) they have sent it, no one knows where it went !  I expect the Agreement is fairly specific about what the performance criteria is.  My understanding is the Listing Broker Commission is cut to 5.5% but then increased to your Listing Agreement of 6% IF you do all the Open Houses, etc.  I say just don't do it for the extra half percent.  Remember the people who are contacting Listing Agents / Brokers are Licensed Agents - so they are truly interfering with your Listing Agreement.  Locally here in SoCal where Auction.com / REDC is Headquartered, the agents attached to their Brokerage are typically NOT REALTOR MEMBERS.

Nationstar is very, very clear to make sure the third party authorization says nationstar and NO ONE else.  

Thats the investor perspective. Your associations should look to joining that suit from your perspective.

This suit should be brought to the attention of your state Attorney General to make them aware of whats going on,

Now there is a legal reference.

NS just pulled this on a SS house my wife and I are trying to buy - we have a contract with the seller already.  Hopefully the seller's lawyer gets them to back down.  

Everyone here needs to take this to their AG and the NAR.  Squeaky wheel gets the grease. 

So, whatever price you are in contract to pay, just increased by 5% to cover the Buyer Premium for Auction.com / aka REDC........

ha! good one

well, first of all, back in Nov/Dec if the ss had been approved at that time, then when it was sold the agent should have told NS and had them reapprove under their umbrella. Since that was not done, I would have the agent elevate the file and see if it can be wrapped up that way. 

That is probably a long shot so here is what I think might happen next according to what you have said.

I am not sure where this property is so I can give you an idea of how it will work if its in California

If this must be restarted again since the BK is in process, the BK will have to be completed in order to release the property.

Then all documents must be updated and resubmitted. I would suggest that the agent get an acceptable price from NS before you confirm your offer and then the agent will need to have the seller decline the auction.com interference.

Your agent should also let them know when they resubmit that this has been in process since last July and has already been approved by BofA last Nov/Dec prior to this going to them.

I would also have your agent ask for their time schedule so the agent can call and email when each date comes. They will need to stay on top of this so that time is not lost during this process.

If I had to guess at how long this might take, I would say that you are looking at several more months in dealing with this.

It is always worth it in the end so patience will pay off for you. Interest rates have held fairly steady so you should be ok with that part.

I am sure that there are others here that have worked with NS directly that could give you more information than I can. I have completed 100's of ss since 2007 but I have not yet had the headache of working with NS yet....

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