What's your story? Is your client being forced into Auction.com?
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If every realtor and association did what you did you would bring this problem to a head in a very short time.
I would respectfully suggest you also include your state Attorney General and if you wanted to take it a step further the Speaker of the State House of Representatives and your two US Senators.
I just emailed all of my representatives, the governor, the attorney general, CAR and NAR.
I also signed your petition for the president.
I think that we all need to stop complaining about out and out illegal activity being perpetuated against our clients and start doing something about it!
We have a responsibility to our clients and our industry to work in their best interests. When we spend all of our time just complaining, the activity goes on.
When we stand together and force them to do what is legal and right, we win for everyone.
I completely agree and will also email these groups to get them to answer to this issue. Thanks Ronald! We should all be doing this.
thanks, I just sent it to both the Speaker and the house in MD, The attorney General, my 2 state senators were sent already.
I dont know if the Secy of State in MD would help you as I dont know what the relationship is with the AG and the Governor. All your RE licensing is in the Secy of State and they have the duty to investigate unlicensed activity separate from the AG.
If you could tie one to a discrimination claim and get that to Justice in DC...
I am spitting nails as Auction.com sent a bidder request to me via customer service this morning, so I go the site and lo and behold there is a listing. My sellers have not given permission for auction.com. We have had a ratified contract in since 11/27/2012. I escalated and they said the negotiator was not responding but now no one is. Then along comes auction.com last week.
I have emailed and told them the sellers have not agreed. They put it on the site and said bank short sale approved. There is a second on this one, liens etc.
So now they have done something without the sellers approval and false advertising of a bank approved short sale.
And it happens on a Sunday........
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What pictures did they use? Id be talking to the MLS
Thanks for that suggestion Bill.
Youre very welcome. Theres more than one way to blah blah blah
Call me crazy, but when my clients have interest in one of these properties and or similar "buyer fee extortion" I explain the system to them what their out of pocket will be and strongly advise to consider their decision....all move on! In Las Vegas our Inventory is so tight, there are agents in bed with short sale attorneys and bk attorneys, we see these regularly:
Buyer to pay BK release fee of $5000.00 or 1% which ever is greater! And some include SS fee
Buyer to pay $10,000.00 short sale negotiator fee (really?)
Buyer to pay Grant Trustee $18,000.00 (yes on a 85K short sale)
I am quite ok with a short sale processing fee within reason...those are not within reason.
Buyer to pay buyer to pay buyer to pay.....
Takes a bit of work, but all my clients have found homes that do not have such unethical fees!
One B of A short sale matter was outsourced to Auction.com. The seller declined their additional assistance. This program allows the property to be sold at an auction with many others and requires 1% of the sales price for their services. The listing broker or seller would not have input re: marketing strategies. The loan was also a FNMA loan who addresses this type of cost in their guidelines.
we have 30 days to get 100,000 people to sign
Dear friends,
I wanted to let you know about a new petition I created on We the People, a new feature on WhiteHouse.gov, and ask for your support. Will you add your name to mine? If this petition gets 100,000 signatures by April 23, 2013, the White House will review it and respond!
We the People allows anyone to create and sign petitions asking the Obama Administration to take action on a range of issues. If a petition gets enough support, the Obama Administration will issue an official response.
You can view and sign the petition here:
Here's some more information about this petition:
Keep banks out of short sales.
it has come to my attention that some banks, at this point I know of two, Bank of American and Nationstar, are now forcing home owners who are trying to short sale a home into an auction with auction.com. In doing so they are interfering with a legal listing agreement and sale contract as well as with a realtors fiduciary relationship. The process also takes away the rights of the property owner by placing restrictions on who can purchase the home. This is a clear case where the banks are entering into real estate brokerage and management business and are prohibited from doing so by law
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