I represent the Buyer. The lender PNC/Chase just responded to our offer with the fact that they will not sell to my buyer's LLC. They will only sell to an individual.

My buyer is a Canadian and the U.S. LLC has his wife and 2 children as Members. The purpose of the LLC in addition to the liability protection is to avoid tax consequences.

If they buy as an individual, and 3 months down the road Quit Claim to the LLC, the IRS may view it as a sale and the title company could be…

Does anyone know of a good Transaction Management System that can be used for everything:

REO list properties including expense tracking

Short Sales including ss package organizing, sorting, page numbering, headers with loan number and customer name, 1etc

Regular Listings

Buyer client transactions

Thanks,

Bill

If one spouse is on the mortgage, and both are on title, do both have to fill out the hardship, or only the spouse on the mortgage?

Thanks,

Bill

A client is in Chapter 13

He wants to short sale his rental unit which is in bad condition (currently unrentable)

Comps show upgraded homes in the community as competition sold at average $115

Subject property needs $25-$30 work to bring to comp condition.

Several buyers are interested.

• Client needs to get an “Affidavit of Abandonment for Real Estate & Asset” from the bankruptcy trustee, (after he decides that he really wants to…