Seller contacted me and wants me to take over from his listing Real Estate Co. It was placed on Freddie Mac's
EXCLUSIONARY list. That co. also has the buyers side. EQUATOR will not take ANY info. from his previous Real Estate office.
I told seller to get a release from his listing co. they are NOT cooperating. ANY suggestions?
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Interesting. OK I get it now.
I'm not sure the contracts or laws involved in your area. I'm in CA.
Sounds like the seller should consult with an attorney about the listing contract involved and serve some notice on the listing brokerage to cancel the listing due to the exclusionary list and Freddie Mac's suspicion's of
fraud and the fact that the listing agent cannot perform the short sale with Freddie Mac.
After serving them notice (or whatever your seller's attorney advises to serve), I personally would just take the file over. They simply cannot perform -- it's that simple. Have someone print out the exclusionary list or other proof that they indeed are on the list -- don't assume.
I think your clients should also make a complaint to the state licensing entity -- this behavior is egregious since the listing agent is not cooperating with handing the file over when they cannot perform -- the seller wants a short sale - they cannot put their desire to close an double ended deal ahead of their client's interest.
Why else would they hold the file -- are they arguing that that they are mistakenly on the list? Either way, their problem should not hurt the client and when it does I believe they have a duty to release the file.
Document everything well my friend, if they will fight with the seller when they are in the wrong, they will most certainly fight with you even though they are wrong.
Fraud.
Sellers LISTING CO. is not cooperating. Seller wants Debt Forgiven. I.E. SHORT SALE.
It's a referral from a client that I have been involved in 5 transactions with.
What caused them to be placed on this list?
Why are you bothering if the seller approached you and then is not cooperating?
What are you a miracle worker? I say move on.