For those of you handling buyers of short sales or who have real estate investors interested in short sales, it looks like Thanksgiving has come a little early for you. All the recent foreclosure paperwork problems (with the big banks being found out about using robo-signers) are causing some sho
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11/24/2010
I have written many times about agents who have had a well-earned short sale approval implode right before closing due to issues with title. It is imperative that you look at title for all short sales at least at the beginning of the listing process, at the time of contract, and when the approva
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11/23/2010
Absolutely….if there is justifiable reason. Case Study Part A: We generated a short sale lead that matched the criteria for one of our rehab investors. This property needs extensive rehab. It was built in 1971 and has never been maintained or updated. Everything is original except for the ho
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11/19/2010
Team member thought she was going to be the homicide headline of the 5 o’clock news today. Backstory first…. We had a short sale bust up two days prior to close due a seller’s refusal to cooperate with the short sale approval terms. Despite a binding contract and likely suit for non-performance,
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11/19/2010
Bank-owned (REO) properties experienced a sharp decline in sales in October, says real estate data provide ForeclosureRadar. The decreases were felt the most in those states already hardest hit by the foreclosure crisis. In Nevada, REO sales to third parties were down 41.5% in October from the pr
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11/18/2010
Are you on the fence our just down right chicken to dive into real estate investing? Well, quit being chicken sh*#@ and take the leap. There has never been a better time to monetize the opportunities of this market. Properties Prices Are at All-Time Lows! A “bad” economy does not mean a bad tim
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11/17/2010
Hey agents that like to send multiple offers to lenders, here is why you better NOT! The lenders are tired of getting a ton of offers that are not fully ratified. Too many offers confuses the ‘overwhelmed’ negotiators. Not to beat a dead horse here. But, the main reason that you don’t send in mu
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11/17/2010
Flat out… If a seller expects to earn money from a short sale transaction, you need to re-route their expectations or walk away! It used to be unspoken under-the-table practice to juice a seller in a short sale transaction. You know, the 1973 couch is suddenly worth ten thousand on a bill of sal
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11/16/2010
Be a Short Sale Business Superpower…Going Way Beyond Commission! We have it drilled in our heads that we have to leverage, automate, and outsource to take our businesses to the next level. We should all hire virtual assistants to do the grunt work so that we can list and sell more homes. But, w
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11/15/2010
You’re Web – Site Internet Marketing MUST Do List: Do provide visitors a professional easy to navigate site · Do provide relevant quality “killer content” that meets your viewers expectations and needs · Do give your site personality and force “Call to Action” reactions ·
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11/12/2010
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