Short Sale Realtor in collusion with buyer, is it legal.

[no_such_reality]

[quote=CA renter] But once the government/taxpayers stepped in to take the losses, their right to recover whatever possible from the sales takes precedence over the rights of buyers/sellers/agents/investors to profit in any way.[/quote]

Wow. Maybe we can apply that same logic to state unions.

[CA renter]

[quote=no_such_reality][quote=CA renter] But once the government/taxpayers stepped in to take the losses, their right to recover whatever possible from the sales takes precedence over the rights of buyers/sellers/agents/investors to profit in any way.[/quote]

Wow. Maybe we can apply that same logic to state unions.[/quote]

You’re right. They should be entitled to all the profits that are currently being funelled to the financial industry — every single cent — until the public entities (who were ripped of by the financial industry, which is what caused the “pension crisis”) are made whole. Good point.

/threadjack

[CA renter]

[quote=no_such_reality][quote=CA renter] But once the government/taxpayers stepped in to take the losses, their right to recover whatever possible from the sales takes precedence over the rights of buyers/sellers/agents/investors to profit in any way.[/quote]

Wow. Maybe we can apply that same logic to state unions.[/quote]

You’re right. They should be entitled to all the profits that are currently being funelled to the financial industry — every single cent — until the public entities (who were ripped of by the financial industry, which is what caused the “pension crisis”) are made whole. Good point.

/threadjack

[CA renter]

[quote=no_such_reality][quote=CA renter] But once the government/taxpayers stepped in to take the losses, their right to recover whatever possible from the sales takes precedence over the rights of buyers/sellers/agents/investors to profit in any way.[/quote]

Wow. Maybe we can apply that same logic to state unions.[/quote]

You’re right. They should be entitled to all the profits that are currently being funelled to the financial industry — every single cent — until the public entities (who were ripped of by the financial industry, which is what caused the “pension crisis”) are made whole. Good point.

/threadjack

[CA renter]

[quote=no_such_reality][quote=CA renter] But once the government/taxpayers stepped in to take the losses, their right to recover whatever possible from the sales takes precedence over the rights of buyers/sellers/agents/investors to profit in any way.[/quote]

Wow. Maybe we can apply that same logic to state unions.[/quote]

You’re right. They should be entitled to all the profits that are currently being funelled to the financial industry — every single cent — until the public entities (who were ripped of by the financial industry, which is what caused the “pension crisis”) are made whole. Good point.

/threadjack

[CA renter]

[quote=no_such_reality][quote=CA renter] But once the government/taxpayers stepped in to take the losses, their right to recover whatever possible from the sales takes precedence over the rights of buyers/sellers/agents/investors to profit in any way.[/quote]

Wow. Maybe we can apply that same logic to state unions.[/quote]

You’re right. They should be entitled to all the profits that are currently being funelled to the financial industry — every single cent — until the public entities (who were ripped of by the financial industry, which is what caused the “pension crisis”) are made whole. Good point.

/threadjack

[urbanrealtor]

With regard to sdr’s post:
I agree.
I am working my first full blown HAFA now and a buyer is not required for approval.
The bank decides the property’s market value and then what percentage of that value they need to net for it to be acceptable.
Then I have 120 days to get a buyer (which is probably more than needed).
I would very much like to see this program extended to all short sales as a matter of law or with some government incentive.

With regard to CAR’s assertions about what constitutes an open market transaction:
All components of arm’s length that you referenced are present in all my deals.
In the case of the agent who made an unsolicited offer, that buyer had was an unrelated party to the seller.
Any person looking to buy had the same opportunity.
Entry into the MLS and a sign in front are not necessary components of an arm’s length or open market transaction.
Often, they are a requirement of the short sale lender.
However, it would be inaccurate to call an unsolicited offer and “inside deal” much less fraud.

As far as CAR’s definition of fraud:
This is a point I should concede.
Omissions of material facts can constitute fraud.
The issue is defining what constitutes a material fact.

As stated above, I would fully welcome and endorse a uniform blanket set of requirements for short sales.
At present, the banks are totally disorganized and inconsistent.
Often they cause foreclosures through their own inaction and foolishness.
That is good money they are wasting when they do that.

[urbanrealtor]

With regard to sdr’s post:
I agree.
I am working my first full blown HAFA now and a buyer is not required for approval.
The bank decides the property’s market value and then what percentage of that value they need to net for it to be acceptable.
Then I have 120 days to get a buyer (which is probably more than needed).
I would very much like to see this program extended to all short sales as a matter of law or with some government incentive.

With regard to CAR’s assertions about what constitutes an open market transaction:
All components of arm’s length that you referenced are present in all my deals.
In the case of the agent who made an unsolicited offer, that buyer had was an unrelated party to the seller.
Any person looking to buy had the same opportunity.
Entry into the MLS and a sign in front are not necessary components of an arm’s length or open market transaction.
Often, they are a requirement of the short sale lender.
However, it would be inaccurate to call an unsolicited offer and “inside deal” much less fraud.

As far as CAR’s definition of fraud:
This is a point I should concede.
Omissions of material facts can constitute fraud.
The issue is defining what constitutes a material fact.

As stated above, I would fully welcome and endorse a uniform blanket set of requirements for short sales.
At present, the banks are totally disorganized and inconsistent.
Often they cause foreclosures through their own inaction and foolishness.
That is good money they are wasting when they do that.

[urbanrealtor]

With regard to sdr’s post:
I agree.
I am working my first full blown HAFA now and a buyer is not required for approval.
The bank decides the property’s market value and then what percentage of that value they need to net for it to be acceptable.
Then I have 120 days to get a buyer (which is probably more than needed).
I would very much like to see this program extended to all short sales as a matter of law or with some government incentive.

With regard to CAR’s assertions about what constitutes an open market transaction:
All components of arm’s length that you referenced are present in all my deals.
In the case of the agent who made an unsolicited offer, that buyer had was an unrelated party to the seller.
Any person looking to buy had the same opportunity.
Entry into the MLS and a sign in front are not necessary components of an arm’s length or open market transaction.
Often, they are a requirement of the short sale lender.
However, it would be inaccurate to call an unsolicited offer and “inside deal” much less fraud.

As far as CAR’s definition of fraud:
This is a point I should concede.
Omissions of material facts can constitute fraud.
The issue is defining what constitutes a material fact.

As stated above, I would fully welcome and endorse a uniform blanket set of requirements for short sales.
At present, the banks are totally disorganized and inconsistent.
Often they cause foreclosures through their own inaction and foolishness.
That is good money they are wasting when they do that.

[urbanrealtor]

With regard to sdr’s post:
I agree.
I am working my first full blown HAFA now and a buyer is not required for approval.
The bank decides the property’s market value and then what percentage of that value they need to net for it to be acceptable.
Then I have 120 days to get a buyer (which is probably more than needed).
I would very much like to see this program extended to all short sales as a matter of law or with some government incentive.

With regard to CAR’s assertions about what constitutes an open market transaction:
All components of arm’s length that you referenced are present in all my deals.
In the case of the agent who made an unsolicited offer, that buyer had was an unrelated party to the seller.
Any person looking to buy had the same opportunity.
Entry into the MLS and a sign in front are not necessary components of an arm’s length or open market transaction.
Often, they are a requirement of the short sale lender.
However, it would be inaccurate to call an unsolicited offer and “inside deal” much less fraud.

As far as CAR’s definition of fraud:
This is a point I should concede.
Omissions of material facts can constitute fraud.
The issue is defining what constitutes a material fact.

As stated above, I would fully welcome and endorse a uniform blanket set of requirements for short sales.
At present, the banks are totally disorganized and inconsistent.
Often they cause foreclosures through their own inaction and foolishness.
That is good money they are wasting when they do that.

[urbanrealtor]

With regard to sdr’s post:
I agree.
I am working my first full blown HAFA now and a buyer is not required for approval.
The bank decides the property’s market value and then what percentage of that value they need to net for it to be acceptable.
Then I have 120 days to get a buyer (which is probably more than needed).
I would very much like to see this program extended to all short sales as a matter of law or with some government incentive.

With regard to CAR’s assertions about what constitutes an open market transaction:
All components of arm’s length that you referenced are present in all my deals.
In the case of the agent who made an unsolicited offer, that buyer had was an unrelated party to the seller.
Any person looking to buy had the same opportunity.
Entry into the MLS and a sign in front are not necessary components of an arm’s length or open market transaction.
Often, they are a requirement of the short sale lender.
However, it would be inaccurate to call an unsolicited offer and “inside deal” much less fraud.

As far as CAR’s definition of fraud:
This is a point I should concede.
Omissions of material facts can constitute fraud.
The issue is defining what constitutes a material fact.

As stated above, I would fully welcome and endorse a uniform blanket set of requirements for short sales.
At present, the banks are totally disorganized and inconsistent.
Often they cause foreclosures through their own inaction and foolishness.
That is good money they are wasting when they do that.

[sdrealtor]

UR
I’ll be interested to see how your HAFA deal goes because my experience is not good. You do know there have only been about 600 completed in the entire country. The value they give you will likley be 10% above the market which I beleive they do because they dont really like the terms they are forced to comply with as part of HAFA.

[sdrealtor]

UR
I’ll be interested to see how your HAFA deal goes because my experience is not good. You do know there have only been about 600 completed in the entire country. The value they give you will likley be 10% above the market which I beleive they do because they dont really like the terms they are forced to comply with as part of HAFA.

[sdrealtor]

UR
I’ll be interested to see how your HAFA deal goes because my experience is not good. You do know there have only been about 600 completed in the entire country. The value they give you will likley be 10% above the market which I beleive they do because they dont really like the terms they are forced to comply with as part of HAFA.

[sdrealtor]

UR
I’ll be interested to see how your HAFA deal goes because my experience is not good. You do know there have only been about 600 completed in the entire country. The value they give you will likley be 10% above the market which I beleive they do because they dont really like the terms they are forced to comply with as part of HAFA.

[Author]

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