I have done short sale and helped many brokers in about 15 different states. I recently have found out that there are certain states that STRICTLY prohibit 3rd party negotiations(someone that is not the agent or broker or working for the listing brokerage) unless done by an attorney. Anyone know about this and or what states are ok with what? Think this could be a cool collaboration from our short sale nation. Where are you from and what are your local rules? HAPPY NEW YEARS! MAY ALL YOUR DEALS BE APPROVED AND CLOSE THIS YEAR!
I work CT and FL. In CT if you want to charge to negotiate a short sale the max limit is $500 AND you need a debt negotiation license. Those regulations were put into place early 2010's.
I am not aware of any such limitations in FL, but then again I don't charge separate "negotiation" fees as they are almost always cut by the lender anyway.
Florida always seemed open to anything in my experience. Did some nice condos on the beach. CT that is interesting. I am still shocked that I am just now hearing about this. I always assumed has long as you were working hand in hand with a local broker or attorney it was ok. GREAT INFO THANKS!
CT is a super regulated, highly taxed, liberal cesspool TBH, hence why I moved to FL lol. They have a bunch of stupid rules like this. Easy enough to work around if you are creative, but still. Really loving Florida lol.
I was down there for a visit not to long ago. I bet the weather makes it even better! Hey would you happen to have any clients who buy commercial land in silver springs?