Players changed, game remains the same - Auction.com is now HomeSearch.com

Submitted a short sale last month that is currently set to be sold in 31 days at foreclosure sale - got assigned the negotiator and the email today requiring the seller participate in the newest marketing ploy: HomeSearch.com. 

This is now entitled the Short Sale Validation Program. They claim the foreclosure sale date is delayed once the borrower participates in the program.

I read previously on a thread in this forum that if the loan was not freddie or fannie - or if it wasn't a private investor - you could get around the auction.com requirement (at least I think it said that...of course, now I can't find said thread about fannie/freddie).

I've also read threads that allude to the fact that if this online auction goes against the local MLS rules, that the local MLS rules supersede. 

It looks like the loan on my short sale is through Deutsch Bank National Trust Company. 

DOES ANYONE ELSE HAVE ANY EXPERIENCE WITH HOMSEARCH.COM? 

Does anyone have any personal experience getting around this requirement? If so, please private message me any sensitive info at kim dot wennerberg at g mail dot com. 

I'm attaching the nationstar provided "guides" to homesearch.com. The one doc looks exactly like the one they used when auction.com was used - except the name has been changed. 

Thanks, all! :)

Kim

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I just ran into this today and will report back....TOTAL BULL ____!!!

They have had our offer for more than 6 weeks and just NOW they are telling us about this.

Pretty sure we can get around it and I will keep you posted on progress!

I ended up ignoring the request (similar timing as what you have described) and got an offer from the negotiator within days. Hope the same happens for you!!

Any update on how things went. I have a 4 plex that will require a serious investor, all cash. Putting it up for auction is just stupid as the great majority will run once they see the inside.  

Any update Ben? 

I am still battling Homesearch, but we will have Investor contact information no later than Wednesday I am told and will find out if it is in fact an Investor directive.  

We have been able to get around Auction.com in the past with a letter we have (email me and I will send you a copy), just no luck as of yet with the stupid Homesearch.

Actually that is half true.  

We DID get a minimum offer number to circumvent Homesearch, but, it is much higher than the current Buyer will pay (they need 88% of the BPO/valuation in order to go around Homesearch).

Ruffle enough feathers and they will give it to you (how to is in my new book/guide "Learning To Swim In The Short Sale Ocean"!!!

I will report back after we contact the Investor directly

 

Ben, Would you be able to email me a copy of the letter you send re auction.com? I'm having the same issues as everyone else. [email protected]

Thank you!

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