Nearly 9 out of 10 of my short sales, the lender cuts the commission from 6% to 5%. I am sick of this. They know they have us by the short hairs and do it automatically. Now I have GMAC being represented by IMPACT that wants to take 1% of my 6% commi
Read more…Hi everyone, love this site, has helped so many times-- need your help!!
I rep the buyer. Original short sale approval was to close July 10th, but we didn't get letter til July 6th so needed extension. Just got new short sale approval yesterday (Augu
Read more…Has anyone heard of a trial period with BOA? My clients have been advised by BOA to pay over 3 months, 3 payments which are not applied to their loan and then BOA will decide if they will modify the sellers loan.
Read more…We are seeing a lot of agents pre selling their own own listings that are short sales before putting them on MLS. I know we have a fiduciary duty to the seller not to the bank but this act of not exposing the property to the market to try to get the
Read more…Okay so after a great response and much appreciated opinions on my last post "Are WE now the problem" I am just arriving to the office after a phone call that prompted me to add this discussion. I might get burned on this one as well but hey, this i
Read more…I just received a contract on my listing that is going short sale and is a USDA Rural Development. Upon trying to present the contract, I was told that the buyer must provide a current appraisal and the contract price is to be same the amount as the
Read more…Opened up a new short sale in Equator. REDC became involved. REDC then sent me a letter congratulating me on the the approval to move forward with the short sale in conjunction with a marketing agreement from Auction.com. I have had and REO listin
Read more…Have a scenaro-
An agent that works for me, K , is working with a buyer, has a contract on a short sale.
Short sale is listed with another office, agent B. They use a negotiation company/attorney/closing company handling their short sale process.
Read more…I'm on the buying side of a transaction where the listing agent is telling me that the seller is completing a HAFA Short Sale and that HAFA has determined a maximum total costs for the sale to be no more than 10% of the purchase.
This max 10% seller
Read more…Just had a buyer walk the same day I received short sale approval on a Suntrust 2nd. Already had the 1st approved with Seterus.
I was able to get a 2nd buyer to meet the price and terms that the approvals were set upon. However, I haven't had to r
Read more…So we decided to buy a new house, because the neigborhood was going bad and plus we needed a bigger house. So we rented our first house, the renters and finding new renters is getting to much for us to deal with and ready to just be done being landl
Read more…Hello all.
I have a short sale property that is scheduled to go to sheriff sale September 14th. The owner has discussed going deed in lieu with the lender, but has not agreed to anything in writing at this time. The lender is Nationstar.
I just rece
I have a short sale with GMAC that has been stalled for several weeks now. Does any one have any contact information to accelerate the short sale?
Read more…Hello!
I have a scenario. I have a short sale listing. The home has been discharged in Chapter 7 bankruptcy as has the HOA dues. We got BofA 's approval. We got the 2nd lienholder approval. BofA's approval allowed for $1900 in HOA dues. Everytim
Read more…Has anyone had a non-HAFA short sale with Wells Fargo where the borrower (seller) received a short sale incentive payment and/or a relocation payment?
Read more…Short Version..
Single Loan, Seller willing to come to the table with money, My offer is 24k over list price with an appraisal right at my offer price.. Investor originally declines do to not participating in HAFA, agrees to go traditional short sa
So we got our appraisal done and they had the wrong contracted amount. They went back into their system and corrected everything so now we have the appraisal at the amount we need. The mortgage broker said they now need to send the appraisal to under
Read more…Just found out that we have a second loan to negotiate with Bank of America. I have never worked with them before. Do I still initiate through Equator or do I use the HELOC package that is under the Lender Info links?
Thank you for your help!!
Heat
Read more…I am a buyer and am wondering what options I have in dealing with trying to buy a short sale. There is only one mortgage on the property.
House was listed 3 months ago for $499k. They had several offers on the first day on the market and another pa
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