buying short sale

Replies

Cody Lampariello 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 :)
Richard 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.
- Joseph Curcio > Richard 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