I have been working on a BOA HAFA since Nov. 2010. Approved short sale price is $80,895. A buyer has offered $83,000, and has asked the seller to pay $3,000 in closing costs.
Asset company says net is good. (Buyers attorney prepared HUD prelim.) B
Read more…Hearing through the RE Grape Vine, these are coming...we were sent a review from Citi in conjunction with Keller Williams that they were partnering on Short Sale/delinquent homeowners...heard also BofA is partnering with Re/Max....
What has everyon
Read more…I have done short sales, but I would think that there are companies out there who for a fee, can negotiate with the banks better than I can.
Read more…I am working on my first BOA HAFA short sale, and I think I am close to having it under contract. My problem is filling out the HUD 1 to send in with the offer.
The offer is over full price, but it asks for $3000 in closing costs, which makes the of
Read more…This thread is for those banks that we know for a fact will NOT accept Electronic or Stamped signatures on their documents. Please post the banks/lenders below & any other quirky requirements that you have discovered. I hope that this too can be a
Read more…This is a HAFA short sale and I'm the buyer agent.
The 2nd lien holder, an AZ credit union sent a form demanding that the buyer and the buyers agent sign "agreeing" to the buyer depositing a non-refundable earnest money deposit to be forfeited to the
Read more…Hi all
I have a client inquiring on a HAFA short sale with B of A. They have a job offer in another state. Borrowers are current on their mortgage. This should have potential for HAFA though they are current-- job relocation information can be prov
Read more…Will you represent both sides of a short sale? Why or why not?
Read more…Has anyone been denied approval by the bank in a tenant occupied property where the tenant has made an offer? The bank is saying this is not an "Arms Length" transaction. The property is managed by a brokerage. Is this in violation of Fair Housing R
Read more…I truly need to know if anyone would be comfortable representing both sides of a short sale. I thought that putting a request on here might be a good way to get a response from a wide variety of people, but at this point, no one has been willing to
Read more…Need an experienced Short Sale List Agent to refer a strong client to..I shorted their vacation home here in the desert, but now their primary residence is threatened..Thanks-
Read more…If you were listing a short sale where you already had a buyer for the property, and an offer price (pretty low) for the house, what would you list the property at? Market value? Close to the offer price? Sellers don't care what the house sells fo
Read more…For those of us that use an electronic signature service, I thought it might be helpful to make a list of the banks/lenders that accept electronic signatures. Hopefully this could potentially be a reference thread to prevent future surprises from ne
Read more…Hello,
I am a buyer of a short sale in Chesapeake, VA. On January 18th I gave a full price offer on the home, which has 2 liens, both with USAA but with GMAC as the servicer on the second. The listing agent has direct numbers to contacts at the b
Read more…As a service to our mortgage applicants (the Buyers), we are considering offering to assist them and the seller if they decide to purchase a Short Sale property. Naturally, the service would be voluntary, and only if the Seller is agreeable. There
Read more…I received a hand delivered flyer today at my home from a company offering invite to a FREE LOAN MODIFICATION seminar.
Among other claims - the flyer states:
I got the short sale approved within 2 months.. I really didn't think it would be that quick but now my seller doesn't want to move. The bank has given us one month and she feels thats too much of a short notice. Now, All I could do is wait it out.
Read more…I currently have a short sale in which the buyer's appraisal accidently got ordered and completed. The appraisal came in much lower ($30K) than what the bank counter back with and about $15K above what the Buyers are willing to pay.
The question I
Read more…I am handling a VHDA - Virginia Housing Development Authority- short sale. They tell me they only pay 5% brokerage fee, and NO purchaser's closing costs. In addition, all normal seller's closing costs over the brokerage fee plus $500 is the seller'
Read more…I'm curious, has anyone in Short Sale Superstars had an experience with:
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