Short Sale Experiences

[ucodegen]

Another situation that people need to watch out for is the way in which a lender releases the lien. In some cases the lender will accept the short sale AND release the owner from the deficiency and in other cases the lender will accept the short sale BUT they will ask the owner to sign a new note that is basically unsecured but does obligate the owner to repay the deficiency.

I am a little surprised that this is happening. If the mortgage is not a first, then it is recourse.. which means that banks can go after the previous owner on a deficiency judgement. The banks only have to either threaten to push for or push for foreclosure to break the logjam.

They might also be able to take the approach of a version of reduced deficiency for keys..

[sdrealtor]

IN a dual agency situation, a lender on a short sale will typically reduce the commission. The market average these days seems to be 5% (2.5% each) when the listing and selling agent are different. When the listing agent represents both, the lender typically only pays them 4%.

The big advantage to using the listing agent is that they have control. More often than not, al ender only wants to review one offer at a time. Usually the buyer for that offer is long gone by the time the approval comes through. With an approved price, the listing agent can select which offer gets submitted next.

[sdrealtor]

IN a dual agency situation, a lender on a short sale will typically reduce the commission. The market average these days seems to be 5% (2.5% each) when the listing and selling agent are different. When the listing agent represents both, the lender typically only pays them 4%.

The big advantage to using the listing agent is that they have control. More often than not, al ender only wants to review one offer at a time. Usually the buyer for that offer is long gone by the time the approval comes through. With an approved price, the listing agent can select which offer gets submitted next.

[sdrealtor]

IN a dual agency situation, a lender on a short sale will typically reduce the commission. The market average these days seems to be 5% (2.5% each) when the listing and selling agent are different. When the listing agent represents both, the lender typically only pays them 4%.

The big advantage to using the listing agent is that they have control. More often than not, al ender only wants to review one offer at a time. Usually the buyer for that offer is long gone by the time the approval comes through. With an approved price, the listing agent can select which offer gets submitted next.

[sdrealtor]

IN a dual agency situation, a lender on a short sale will typically reduce the commission. The market average these days seems to be 5% (2.5% each) when the listing and selling agent are different. When the listing agent represents both, the lender typically only pays them 4%.

The big advantage to using the listing agent is that they have control. More often than not, al ender only wants to review one offer at a time. Usually the buyer for that offer is long gone by the time the approval comes through. With an approved price, the listing agent can select which offer gets submitted next.

[sdrealtor]

IN a dual agency situation, a lender on a short sale will typically reduce the commission. The market average these days seems to be 5% (2.5% each) when the listing and selling agent are different. When the listing agent represents both, the lender typically only pays them 4%.

The big advantage to using the listing agent is that they have control. More often than not, al ender only wants to review one offer at a time. Usually the buyer for that offer is long gone by the time the approval comes through. With an approved price, the listing agent can select which offer gets submitted next.

[SD Realtor]

uco with respect to the recourse/non recourse statement that is true. However more often then not, the properties I have been dealing with have been refinanced or ATMd to death.

[SD Realtor]

uco with respect to the recourse/non recourse statement that is true. However more often then not, the properties I have been dealing with have been refinanced or ATMd to death.

[SD Realtor]

uco with respect to the recourse/non recourse statement that is true. However more often then not, the properties I have been dealing with have been refinanced or ATMd to death.

[SD Realtor]

uco with respect to the recourse/non recourse statement that is true. However more often then not, the properties I have been dealing with have been refinanced or ATMd to death.

[SD Realtor]

uco with respect to the recourse/non recourse statement that is true. However more often then not, the properties I have been dealing with have been refinanced or ATMd to death.

[peterb]

I wonder how much of this incredibly long transaction time is really the lenders being swamped as opposed to them not wanting to sell the properties too quickly and get too many losses on the books in any given quarter?

[peterb]

I wonder how much of this incredibly long transaction time is really the lenders being swamped as opposed to them not wanting to sell the properties too quickly and get too many losses on the books in any given quarter?

[peterb]

I wonder how much of this incredibly long transaction time is really the lenders being swamped as opposed to them not wanting to sell the properties too quickly and get too many losses on the books in any given quarter?

[peterb]

I wonder how much of this incredibly long transaction time is really the lenders being swamped as opposed to them not wanting to sell the properties too quickly and get too many losses on the books in any given quarter?

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