Need advise….Landlord short selling to us

[emmysmomma]

I need advise on whether these practices are unethical or illegal??

There are a million details, but here are the main points:

Our current landlord is doing a short-sale on the house we currently live in. He also owns a brokerage Co. and was going to handle our financing until we felt very uneasy about him and secured our own independent agent.

This is part of the original e-mail on the property…

“I have the agent that the bank appointed give you a call. I asked that they give you a shot before she gets any outside offers, but you need to work with her directly, (we wanted to use our re agent) she is a friend of a VP I know at the bank. I already have other offers lined-up to be considered in case you don’t want it. (no one has seen the house in the year and a half we have lived here)

When you get a chance, click the link below for the app and I will had it off to one of my good friends. They will be sure to give you a discount, plus I will make sure it is better than in-line.

When you send the check in please make it to Bank of America so I can sign it over. They said it should take 3-4 mo total process time since they are working with me on this.

If you decide to stay, the other buyer will be an investor and I am sure will keep you in if you would like to continue renting it.

The MLS will have a price of 330k, but for you, I asked that she write it up for 290k. so please keep that between you and I. That should keep the payment close to the rent.

I also asked that if needed to be shown, that they must make an appointment, but I do not think it will get that far before we put it in pending.”

To follow this, we were asked to sign the docs @330k…”assured that the appraisal will not come in at that, then we will lower the price”. Then, we were handed off to another re agent, within 1 week, that agent was let go! We were told that we would be in contract in time to qualify for BOTH state and fed rebates. That never happened.

We threatened to withdraw on the property and the 3rd party negotiator stepped in. He agreed to lower the price down to 300k. We raised the offer by 8k, with the stipulation that they wouldn’t accept any back-up offers. What do you know….the appraisal is coming back over 330k!!!

Sorry for the long thread, but we are soooo frustrated and have now lost out on 16k in tax rebates. ANY advise on whether we have recourse?????!!

We just wanted to keep our family of 6 in our home and had we not been lied to, we would have jumped and bought another property and had 16k in rebates. (which we REALLY needed) Thanks so much!!

[ibjames]

so… the negotiator lowered the price to 300k, and it appraised at 330k and you are pissed off?

As far as recourse, this stuff is happening all the time. The whole process is a joke.

If you are stuck at the 290 price, offer that and be done with it. The whole “just between you and me, I’ll have her write it up at 290” doesn’t hold any ground

[ibjames]

so… the negotiator lowered the price to 300k, and it appraised at 330k and you are pissed off?

As far as recourse, this stuff is happening all the time. The whole process is a joke.

If you are stuck at the 290 price, offer that and be done with it. The whole “just between you and me, I’ll have her write it up at 290” doesn’t hold any ground

[ibjames]

so… the negotiator lowered the price to 300k, and it appraised at 330k and you are pissed off?

As far as recourse, this stuff is happening all the time. The whole process is a joke.

If you are stuck at the 290 price, offer that and be done with it. The whole “just between you and me, I’ll have her write it up at 290” doesn’t hold any ground

[ibjames]

so… the negotiator lowered the price to 300k, and it appraised at 330k and you are pissed off?

As far as recourse, this stuff is happening all the time. The whole process is a joke.

If you are stuck at the 290 price, offer that and be done with it. The whole “just between you and me, I’ll have her write it up at 290” doesn’t hold any ground

[ibjames]

so… the negotiator lowered the price to 300k, and it appraised at 330k and you are pissed off?

As far as recourse, this stuff is happening all the time. The whole process is a joke.

If you are stuck at the 290 price, offer that and be done with it. The whole “just between you and me, I’ll have her write it up at 290” doesn’t hold any ground

[(former)FormerSanDiegan]

Step back, and forget about all path that got you here. Forget about all the promises and tax credits.

Is it a good deal at 300K ?

If not, back out and move on.

Either way, make sure you have representation (lawyer or agent) so that you are not getting scammed.

[(former)FormerSanDiegan]

Step back, and forget about all path that got you here. Forget about all the promises and tax credits.

Is it a good deal at 300K ?

If not, back out and move on.

Either way, make sure you have representation (lawyer or agent) so that you are not getting scammed.

[(former)FormerSanDiegan]

Step back, and forget about all path that got you here. Forget about all the promises and tax credits.

Is it a good deal at 300K ?

If not, back out and move on.

Either way, make sure you have representation (lawyer or agent) so that you are not getting scammed.

[(former)FormerSanDiegan]

Step back, and forget about all path that got you here. Forget about all the promises and tax credits.

Is it a good deal at 300K ?

If not, back out and move on.

Either way, make sure you have representation (lawyer or agent) so that you are not getting scammed.

[(former)FormerSanDiegan]

Step back, and forget about all path that got you here. Forget about all the promises and tax credits.

Is it a good deal at 300K ?

If not, back out and move on.

Either way, make sure you have representation (lawyer or agent) so that you are not getting scammed.

[jpinpb]

Don’t worry so much about the tax credit. Heck, use it as negotiation tactic. The tax credit expired, reduce it some more. What are other places in the area going for?

I dont’ know where this house is, but IMO the tax credit was a scam that RAISED the price of houses, or at minimum and best, kept it flat. I have seen houses reduce in price since the credit expired, some considerably more than the credit.

Exception – sdr’s area. They don’t need the tax credit and his area always goes up. 😉

[jpinpb]

Don’t worry so much about the tax credit. Heck, use it as negotiation tactic. The tax credit expired, reduce it some more. What are other places in the area going for?

I dont’ know where this house is, but IMO the tax credit was a scam that RAISED the price of houses, or at minimum and best, kept it flat. I have seen houses reduce in price since the credit expired, some considerably more than the credit.

Exception – sdr’s area. They don’t need the tax credit and his area always goes up. 😉

[jpinpb]

Don’t worry so much about the tax credit. Heck, use it as negotiation tactic. The tax credit expired, reduce it some more. What are other places in the area going for?

I dont’ know where this house is, but IMO the tax credit was a scam that RAISED the price of houses, or at minimum and best, kept it flat. I have seen houses reduce in price since the credit expired, some considerably more than the credit.

Exception – sdr’s area. They don’t need the tax credit and his area always goes up. 😉

[jpinpb]

Don’t worry so much about the tax credit. Heck, use it as negotiation tactic. The tax credit expired, reduce it some more. What are other places in the area going for?

I dont’ know where this house is, but IMO the tax credit was a scam that RAISED the price of houses, or at minimum and best, kept it flat. I have seen houses reduce in price since the credit expired, some considerably more than the credit.

Exception – sdr’s area. They don’t need the tax credit and his area always goes up. 😉

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