More middle man activity

[SD Realtor]

Very nice little listing in 92128 just came on 3 days ago. It was still active this morning however the agent said it is already contingent with a middleman flip… It is a short sale and the offer supposedly came in the day the home hit the MLS and was accepted by the seller. So I ask the listing agent, “Is the seller related to the investor?” he says no… Then I ask, “Is your agency related to the investor or do they have an interest in the transaction”. He says no. So then I ask well if neither of those are true, and the seller accepted an offer on day 1, from an investor who will then try to sell the property while it is being processed for short sale, don’t you think it may have been more prudent to market the property for a few days in order to get a higher offer?” At that point he had to go “take another call.”

Awesome!

[briansd1]

Not surprised.

Like i said before, if short sales are easily approved, there will be all kinds of related party sales which will cause prices to drop further.

If the seller or agent can controls who the house is sold to, it’s easy to engineer a sale to a friend, business partner, relative, etc…

And even if short sales are not so easily approved, it’s worth an attempt. You don’t know until you ask for it.

[briansd1]

Not surprised.

Like i said before, if short sales are easily approved, there will be all kinds of related party sales which will cause prices to drop further.

If the seller or agent can controls who the house is sold to, it’s easy to engineer a sale to a friend, business partner, relative, etc…

And even if short sales are not so easily approved, it’s worth an attempt. You don’t know until you ask for it.

[briansd1]

Not surprised.

Like i said before, if short sales are easily approved, there will be all kinds of related party sales which will cause prices to drop further.

If the seller or agent can controls who the house is sold to, it’s easy to engineer a sale to a friend, business partner, relative, etc…

And even if short sales are not so easily approved, it’s worth an attempt. You don’t know until you ask for it.

[briansd1]

Not surprised.

Like i said before, if short sales are easily approved, there will be all kinds of related party sales which will cause prices to drop further.

If the seller or agent can controls who the house is sold to, it’s easy to engineer a sale to a friend, business partner, relative, etc…

And even if short sales are not so easily approved, it’s worth an attempt. You don’t know until you ask for it.

[briansd1]

Not surprised.

Like i said before, if short sales are easily approved, there will be all kinds of related party sales which will cause prices to drop further.

If the seller or agent can controls who the house is sold to, it’s easy to engineer a sale to a friend, business partner, relative, etc…

And even if short sales are not so easily approved, it’s worth an attempt. You don’t know until you ask for it.

[1stimebuy]

http://www.redfin.com/CA/San-Diego/11153-Avenida-De-Los-Lobos-92127/home/4669489

You mean this one huh?
My agent was perplexed about this listing too…

oh… this is 92127… 🙁

[1stimebuy]

http://www.redfin.com/CA/San-Diego/11153-Avenida-De-Los-Lobos-92127/home/4669489

You mean this one huh?
My agent was perplexed about this listing too…

oh… this is 92127… 🙁

[1stimebuy]

http://www.redfin.com/CA/San-Diego/11153-Avenida-De-Los-Lobos-92127/home/4669489

You mean this one huh?
My agent was perplexed about this listing too…

oh… this is 92127… 🙁

[1stimebuy]

http://www.redfin.com/CA/San-Diego/11153-Avenida-De-Los-Lobos-92127/home/4669489

You mean this one huh?
My agent was perplexed about this listing too…

oh… this is 92127… 🙁

[1stimebuy]

http://www.redfin.com/CA/San-Diego/11153-Avenida-De-Los-Lobos-92127/home/4669489

You mean this one huh?
My agent was perplexed about this listing too…

oh… this is 92127… 🙁

[sdrealtor]

SD R

Actually the DRE just came out with a memo specifically coming down against these types of transactions. I will email you a copy of it. I forwarded it to an investor that was doing these types of transactions (NOT WITH ME!) and as soon as he saw it he cancelled all the transactions he is currently involved in. It scared him silly. Hopefully the new rules/regs will have some teeth in preventing this. Ch3eck your email, its on the way.

You may want to forward a copy to that listing agent.

[sdrealtor]

SD R

Actually the DRE just came out with a memo specifically coming down against these types of transactions. I will email you a copy of it. I forwarded it to an investor that was doing these types of transactions (NOT WITH ME!) and as soon as he saw it he cancelled all the transactions he is currently involved in. It scared him silly. Hopefully the new rules/regs will have some teeth in preventing this. Ch3eck your email, its on the way.

You may want to forward a copy to that listing agent.

[sdrealtor]

SD R

Actually the DRE just came out with a memo specifically coming down against these types of transactions. I will email you a copy of it. I forwarded it to an investor that was doing these types of transactions (NOT WITH ME!) and as soon as he saw it he cancelled all the transactions he is currently involved in. It scared him silly. Hopefully the new rules/regs will have some teeth in preventing this. Ch3eck your email, its on the way.

You may want to forward a copy to that listing agent.

[sdrealtor]

SD R

Actually the DRE just came out with a memo specifically coming down against these types of transactions. I will email you a copy of it. I forwarded it to an investor that was doing these types of transactions (NOT WITH ME!) and as soon as he saw it he cancelled all the transactions he is currently involved in. It scared him silly. Hopefully the new rules/regs will have some teeth in preventing this. Ch3eck your email, its on the way.

You may want to forward a copy to that listing agent.

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