FNMAE and Kazork.com
News to me. Have a Short Sale with GMAC. Just submitted offer + supporting docs. Get a call from a guy that says, "I'm working for FNMAE backed short sales..I will be your negotiator with the Investor." Hmmm. I talked to GMAC and they confirmed.
This guy tells me that due to so much fraud by Realtors, his company (at 1% fee) handles the deal directly with the Investor via Kazork.com He sends me all the FNMAE package docs for my Sellers to sign. Claims he's going to have an answer within 30 days. I do have an offer, but apparently, Buyers Agents may upload offers directly to the site. They'll pick the best offer!
We shall see..
Replies to This Discussion
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Permalink Reply by Bryant Tutas on
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Just another 3rd party vendor stepping into our transactions:
What is Kazork
Kazork is a Software as a Service (SaaS) used by real estate agents, home sellers and homebuyers to complete online real estate transactions. Users registered on Kazork complete transactions anywhere in the world. Kazork does not list or sell real estate. Kazork is simply a SaaS for users to conduct their own real estate transactions online.
Kazork Objective
To provide home sellers, homebuyers, real estate agents and other real estate professionals the ability to complete simple, efficient, paperless and transparent online real estate transactions.
Benefits
Kazork benefits everyone involved in a real estate transaction. If you are a real estate agent, Kazork streamlines and simplifies the offer submission process by greatly reducing paperwork, hassle and secrecy. If you are a buyer, Kazork allows you to view all other offers on the table, which creates more prudent decision making. If you are a seller, Kazork simply determines the highest and best offer for your property in the shortest amount of time. Kazork allows everyone to complete a transparent real estate transaction in a quick, easy and transparent method.
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Permalink Reply by Kimberley Kelly on
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Sounds good Bryant. But it didn't seem that I had a choice. I guess GMAC has hired them directly? I, as the List Agent, am required to use them. No getting around it. Doesn't affect commissions, but does cost them an additional 1%. Still pretty confused...
I also have to clarify my original forum topic as he got after me. The quote is not his. It was my memory of what he said. He is right. If it's not his direct quote, I should not put quote marks around it. I'll be more careful.
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