Comment

Comment by Shannon Renner on January 23, 2012 at 12:03pm

Hi Cindie~  So far no answer from the negotiator.  I emailed her the contractor bid, the inspection report and also the county assessor report stating the market value has declined.  The home is now assessed for 2012 at $300k and the negotiator wants $350k after she had already approved $325k 30 days ago.  Our first approval was for $335k.  I have been trying to reach her, but she is not responding yet so will have to escalate as soon as I can figure out who that would be.

Comment by Cindie Schulz on January 20, 2012 at 12:18pm

Shannon, this jus happened to me too. Have you had any luck esclating?

Comment by Kylee Roe on January 19, 2012 at 10:17am

Is this the same negotiator as before?  You may need to send the inspection report, and if it was me, I'd see it as being back at square 1--back to providing comps, the inspection report, explaining the market is in decline, that you already were approved at market value, asking for escalation and seeking out a higher up manager type.

Comment by Shannon Renner on January 19, 2012 at 7:20am

Hi all!

Just received a counteroffer from an Indy negotiator for $25k more than what was previously approved.  The last approval the buyers walked away due to all the necessary repairs needed (this was only 30 days ago). They had an inspection report and it states all the repairs...some are very serious.  I re-listed and got a new buyer who offered the same net and Indymac just responded this morning now wanting $25k more than what the last approval letter was for (approved at $325k before and now want $350k).  Has anyone seen this before and any ideas?

I have replied to the negotiator letting her now know all the repairs needed ($61k) and have asked for an escalation.  Any further ideas would be greatly appreciated.  Thanks!

Comment by Kathleen Sheridan on January 10, 2012 at 10:28am

Is there any use to doing a short sale on a reverse mortgage? Indy Mac is the lender. 

Comment by Jason Rickards on January 9, 2012 at 10:58am

Rich,

 

I just received an approval letter from OneWest/IndyMac and they cut the commission to 5% as well.  I want to push back on this, but I dont know if I have any leverage.  Did you find out anything?

Comment by Shannon Jones on December 27, 2011 at 10:49am

Thanks Denae!

Comment by Shannon Jones on December 27, 2011 at 10:08am

I'm trying to get Indymac to postpone a Dec. 29th sale date and need some executive office or supervisor contacts if anyone has them. We submitted a full package with offer on December 13th -- which meets Indymac's requirement of submission 15 days prior to the sale date. However, we've been unable to get confirmation that they'll postpone the sale date. They say they're waiting to hear from Fannie Mae. But when I contacted Fannie Mae, they say it's up to Indymac. Can anyone offer contacts or suggestions? Thanks!

Comment by Thom Colby CA Brkr 888-391-5245 on December 18, 2011 at 4:28am

 

So here's a new twist. 

 

I received an IndyMac short sale approved through ServiceLink (that's a whole different experience on each transaction  (ugh!) and we're moving along towards closing. 

 

Along with the Approval came a new PEC Form (INDYMAC%20-%20PEC%2012-16-2011.pdf).  Nothing unusual about it - everyone has to sign, everyone has to get notarized, etc.  But here's the twist - the Escrow company (settlement agent) refuses to sign it.  It's their internal policy they don't sign anything other than closing statements.  So, the transaction cannot close without the escrow officer's signature and she won't sign it!  Since I'm "the 3rd party negotiator", I suggested to the agents that they change escrow companies to any other local company who will cooperate and sign the PEC. 

 

So here's my question, if the escrow company causes it not to close, should I sue them ?

 

Our business is so interesting.......

 

 

Comment by Kylee Roe on September 28, 2011 at 5:55pm

Is the listing broker on the ball with this? Sounds like you're working both sides of the deal !?

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