I recently took a CDPE class, and one of the topic's that stuck in my head was interview the listing agent.

I had the misfortune of taking over a short sale for the buyers agent, only to find out two days after my CDPE  class that the listing agent has little to no experience with Short Sales.  Two days after she hands me an Arms Lenght agreement the property is sold at Auction. Buyers are very disappointed.  She has no clue as to what the procedure in equator was or how to postpone…

DiscussionsRepliesLatest Activity…

It happens every year. Agents tell their sellers that they should wait until after the holidays to put their homes on the market. They say no one is looking during December so don't bother. Translation: Agent wants much needed and deserved time off during the holidays, or seller has a lot of family coming and does not want people traipsing through their home with all of the activity going on.

Other side of the equation: Very busy…

Aurora has aproved a short sale but offered the second $0.

After negotiating the second (STCU a small local crdit union) will take  $5K.

The buyer is willing to pay the $5K.

There are additional closing costs that Aurora did not offer to cost, approx $570.

We are having issues as to wher this information appears on the HUD-1.  I am thinking line 409 as a POC for the $5k and I am not sure where the additional closing costs fees fit.

Should the adendum to the…

I have a short sale in Goleta (Santa Barbara) and the jr lien is with Real Time Resolutions in TX.  I have been trying very hard to reach cason my negotiator and when i reached the escalation dept i was surprised it was transferred to him.  I have a simple question from my buyers - this was sent to cason yesterday:

News is starting to come out about how in the last couple of weeks mortgage applications are starting to come in a bit more frequently. Realty Times is reporting that in the week ending December 2^nd mortgage applications have shown a 12.8% increase while mortgage refinance applications rose 15.3%.  This is a fantastic trend to be getting into as it shows that there is…

Both came up in the same conversation.  They instructed me to send in the hardship letter again no later than October 6th, which was at least 60 days prior to the sale so they could work the DIL. They also said to give the buyer 3% off in closing costs and put it in the listing.

An offer came in at $350K with no closing costs.  The bank said no, denied the first negotiators offer, wouldn't look at an addendum taking the price to $380K saying it was too late.  Refused the DIL saying…

I represent the buyer on a short. 1st has written approval 2nd wants 6k and is getting 3k. Listing agent says that buyer is to bring in the other 3k. I thought the 2nd could only get 3k. Please advise-

Thanks Cynthia

List agent took 11 days after the fact to deliver Rushmore (first) short sale approval to me which was delivered to her on the 11th of November and she to me on the 22nd of November we got a loan approval on the 6th of December.  Now PNC (2nd) will not give an extension to close their approval letter was to the second of December.

Does anyone have any experience with this, PNC the rep is stating that it is the Investors that they are not willing to give the extension not…

Short Sale Tax Consequences

After a short sale, there is still one more type of paperwork that the seller has to accomplish and it pertains to income tax after a…

I have been getting several calls regarding loan modifications. I would like to help these people because they trust me and their are a lot of scam artist out there. My question is -- Has anyone had luck with the bank paying for you to help the home owner with loan modification? Or is the only way to do it is to have the home owner pay me for my services. 

Any help would be greatly appreciated. 

Jesse 

DiscussionsRepliesLatest Activity

Does BOA allow a…

My short sale has been approved.  Closing is for next month.  After the sale goes through, does the bank try to collect the difference of monies owed?  

2011 has turned out to be a good year for my HAFA short sales. They seemed to move along quicker, so maybe that idea of "stream lining the HAFA process" has actually hit the Lenders.

This was a gorgeous little condo in Indian Creek Villas, in Palm Desert, California. Great location off of Hwy 74, which crosses the mountain from our desert floor over to San Diego. A short distance above our premier shopping area, El Paseo, (the deserts' Rodeo drive), and Hwy 111 is 5 minutes away. Hwy…

Hi folks. Recently I have had several Florida Short Sale sellers ask me the same question.....”We need to replace our car. Should we do that before we go through the short sale process?” The concern is that once they go through the short sale their credit will be…

Why Do Short Sales Take So Long To Complete?

For…

Today’s real estate market is up and down but despite that some agents are flourishing…Why?  What makes one agent different than another and how are they dominating the market?

The truth is that the agents that are succeeding right now are those that know and understand how to properly sell homes.  They understand current trends in marketing and the tactics…

Short Sale VS Loan Modification

One of the hardest things that you might experience is losing your home that you have worked so hard…

Has anyone done a SS with Lockheed Credit Union, they have a first and second on the property and want to cut the commission to 4% to approve. 

Is Bank of America Still Terrible at Short Sales?

I would have to reluctantly say no.  Bank of America is no longer terrible at short sales.  This coming year will mark four years since my first Bank of America short sale, and as critical as I am of Bank of America, I must admit they they…