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faterikcartman.
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September 30, 2010 at 12:37 PM #18013September 30, 2010 at 12:51 PM #611205
davelj
ParticipantThis happens all the time. The ultimate buyer doesn’t have the highest purchase offer (to the lender) but offers to “buy the furniture” of the seller in order get chosen as the buyer (by the seller) for the transaction. Of course, this is nothing more than a disguised payment to the seller.
Generally, so long as the purchase offer is anywhere above the broker price opinion (and theoretically the list price), the lender is none the wiser and will accept the offer presented.
Ethical? Of course not. But it happens a lot. And it’s difficult to police because, hey, what is the furniture really worth? Who’s to say…
If you try to take the high road in buying a foreclosure or short-sale at a really good price you won’t encounter much traffic.
September 30, 2010 at 12:51 PM #611291ParticipantThis happens all the time. The ultimate buyer doesn’t have the highest purchase offer (to the lender) but offers to “buy the furniture” of the seller in order get chosen as the buyer (by the seller) for the transaction. Of course, this is nothing more than a disguised payment to the seller.
Generally, so long as the purchase offer is anywhere above the broker price opinion (and theoretically the list price), the lender is none the wiser and will accept the offer presented.
Ethical? Of course not. But it happens a lot. And it’s difficult to police because, hey, what is the furniture really worth? Who’s to say…
If you try to take the high road in buying a foreclosure or short-sale at a really good price you won’t encounter much traffic.
September 30, 2010 at 12:51 PM #611837ParticipantThis happens all the time. The ultimate buyer doesn’t have the highest purchase offer (to the lender) but offers to “buy the furniture” of the seller in order get chosen as the buyer (by the seller) for the transaction. Of course, this is nothing more than a disguised payment to the seller.
Generally, so long as the purchase offer is anywhere above the broker price opinion (and theoretically the list price), the lender is none the wiser and will accept the offer presented.
Ethical? Of course not. But it happens a lot. And it’s difficult to police because, hey, what is the furniture really worth? Who’s to say…
If you try to take the high road in buying a foreclosure or short-sale at a really good price you won’t encounter much traffic.
September 30, 2010 at 12:51 PM #611951ParticipantThis happens all the time. The ultimate buyer doesn’t have the highest purchase offer (to the lender) but offers to “buy the furniture” of the seller in order get chosen as the buyer (by the seller) for the transaction. Of course, this is nothing more than a disguised payment to the seller.
Generally, so long as the purchase offer is anywhere above the broker price opinion (and theoretically the list price), the lender is none the wiser and will accept the offer presented.
Ethical? Of course not. But it happens a lot. And it’s difficult to police because, hey, what is the furniture really worth? Who’s to say…
If you try to take the high road in buying a foreclosure or short-sale at a really good price you won’t encounter much traffic.
September 30, 2010 at 12:51 PM #612265ParticipantThis happens all the time. The ultimate buyer doesn’t have the highest purchase offer (to the lender) but offers to “buy the furniture” of the seller in order get chosen as the buyer (by the seller) for the transaction. Of course, this is nothing more than a disguised payment to the seller.
Generally, so long as the purchase offer is anywhere above the broker price opinion (and theoretically the list price), the lender is none the wiser and will accept the offer presented.
Ethical? Of course not. But it happens a lot. And it’s difficult to police because, hey, what is the furniture really worth? Who’s to say…
If you try to take the high road in buying a foreclosure or short-sale at a really good price you won’t encounter much traffic.
September 30, 2010 at 12:58 PM #611210briansd1
GuestAs I’ve always said, in a short sale situation, the seller (not the bank) chooses who the short sale goes to.
If you really want the house, do what it takes to make sure that you are the chosen one.
September 30, 2010 at 12:58 PM #611296GuestAs I’ve always said, in a short sale situation, the seller (not the bank) chooses who the short sale goes to.
If you really want the house, do what it takes to make sure that you are the chosen one.
September 30, 2010 at 12:58 PM #611842GuestAs I’ve always said, in a short sale situation, the seller (not the bank) chooses who the short sale goes to.
If you really want the house, do what it takes to make sure that you are the chosen one.
September 30, 2010 at 12:58 PM #611956GuestAs I’ve always said, in a short sale situation, the seller (not the bank) chooses who the short sale goes to.
If you really want the house, do what it takes to make sure that you are the chosen one.
September 30, 2010 at 12:58 PM #612270GuestAs I’ve always said, in a short sale situation, the seller (not the bank) chooses who the short sale goes to.
If you really want the house, do what it takes to make sure that you are the chosen one.
September 30, 2010 at 1:36 PM #611220scaredyclassic
Participantwell, what if i track it (if I’m not accepted) and find the bank took a lower offer of equal strength. If i sue the agent, i suppose I’d have to prove the sale of the personal effects drove the decision on which offer to accept. This makes me angry. now I’m thinking I should have offered much less, but offered a large dollar amount for seller’s used stuff. probably would be much stronger of an offer. I feel like a doofus.
September 30, 2010 at 1:36 PM #611306Participantwell, what if i track it (if I’m not accepted) and find the bank took a lower offer of equal strength. If i sue the agent, i suppose I’d have to prove the sale of the personal effects drove the decision on which offer to accept. This makes me angry. now I’m thinking I should have offered much less, but offered a large dollar amount for seller’s used stuff. probably would be much stronger of an offer. I feel like a doofus.
September 30, 2010 at 1:36 PM #611852Participantwell, what if i track it (if I’m not accepted) and find the bank took a lower offer of equal strength. If i sue the agent, i suppose I’d have to prove the sale of the personal effects drove the decision on which offer to accept. This makes me angry. now I’m thinking I should have offered much less, but offered a large dollar amount for seller’s used stuff. probably would be much stronger of an offer. I feel like a doofus.
September 30, 2010 at 1:36 PM #611966Participantwell, what if i track it (if I’m not accepted) and find the bank took a lower offer of equal strength. If i sue the agent, i suppose I’d have to prove the sale of the personal effects drove the decision on which offer to accept. This makes me angry. now I’m thinking I should have offered much less, but offered a large dollar amount for seller’s used stuff. probably would be much stronger of an offer. I feel like a doofus.
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