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Permalink Reply by Richard on October 29, 2011 at 6:48pm

Joseph,

 

There are no guarantees and don't get attached to the house but, anything the listing agent and your agent agent can do to keep on top of the lender and negotiator will definately increase your chances of success.  That said, you have to STAY ON TOP of your agent and your agent will have to do the same about this entire process.  By them keeping you out of the loop, that will only alienate you.  Continue your search for other possibilities just in case this deal doesn't pan out.  There's no harm in looking. You may find something better.

I've gone through your fustration throughout a very recent 8 1/2 month short sale that was unsuccessful.  My biggest problem was the listing agents did not have a clue what they were doing, nor did they feel it was necessary to keep others in the loop.  Additionally, my buying agent had too many other distractions and the sale wasn't a priority to him.  The funny thing about karma: the listing agent called me at home today to tell me that they both got fired.  And, little did they know, I had already fired my agent.  Then 4 hours later, the seller calls me to tell me she has hired an attorney team to represent her in a new listing and, maybe more. 

 

 

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Permalink Reply by Joseph Curcio on October 30, 2011 at 5:29am

Thanks Richard for answering me would you know any way to contact nation star mtg.The deal is on the equator syst.My agent is useless .Thanks Joe

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Permalink Reply by Richard on October 30, 2011 at 9:25am

Joseph,

 

Harry is 110% correct!  That is why I say,  continue your search for other possibilities just in case this deal doesn't pan out.  There's no harm in looking. You may find something better anyways.  To the lender, you as a buyer are insignificant until they, the lender realize they are better off with you, rather than without out.  Thankfully, the good agents have realized that it takes both components (sincere seller and buyer) to make this work, awhile still other subpar agents have never figured this out.

Just my observation, if the seller, buyer and lender are serious about working together, and the better agents have the organizational, business, communication and negotiation skills along with confidence to make short sales successful, you're in a good transaction.  However, if the lender isn't buying it and the listing agents aren't doing they're job, then take a hike.  Remember, garbage in = garbage out.

 

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Permalink Reply by Cody Lampariello on October 31, 2011 at 8:52am

Joseph,

You need to discuss this with your agent. If he is unwilling to discuss it with you then you need to find another agent.

Things to discuss:

Have you asked the listing agent why we are not getting updates?

Do you know if the BPO was completed and the bank has assigned a value?

Has there been any sort of counteroffer?

Has the file even been submitted or is the agent still trying to collect docs?

 

Nationstar is kind of a pain but they are not Aurora. There is no reason you should be sitting at 7 months without some sort of counter offer at least. At this point in time both agents are dropping the ball. Your agent for not being more aggressive and the listing agent for not communicating what is going on. He may have no clue what he is doing or he might just be lazy. Either way your agent should be able to press him and get some sort of results or realization that you need to purchase elsewhere. If they need a little help tell them to call me I'll square them away :)

 

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