Short-Sale Shenanigans…….Gotta be a way to keep the listing agents honest

[SD Realtor]

Yes I did have to. The secondary review was another 250 clams. It sucked.

[5yes]

Well we are a handpicked buyer in Temecula – but only because we have been very proactive about our home search. We upfront let any realtor we worked with know that we were being aggressive and would be using different realtors for different houses that we offered on. We put in about 25 offers since last October. All of them were outbid (we didn’t want to fall in love and pay more than $100/ft.) or had some shady deal going on like mentioned – they would go pending the same day as they listed, or they would be sold to the realtor’s company, the same thing that others have seen. It has happened over and over to us. One day while walking to the sports park in Harveston we noticed that a short sale home we particularly liked had some activity going on – new people coming and going. We walked over and found out that the home had just been taken over by the bank. We called up the broker representing the bank and made a decent offer. The broker submitted our offer and it was accepted before the bank had even gotten the house ready for the mls, then we had to wait a couple weeks until the home was listed. It went pending after 72 hours and 5 other offers (I don’t know the prices) but ours was already accepted and we entered escrow right away. Now we are waiting for the appraisal, if it comes back lower than we have to renegotiate with the bank, but I doubt it since our offer was not even at the price the house listed for and the same as the house next door which sold last month for the same price but is smaller.

So – I know we didn’t get the best deal in Temecula (tg wins that prize) but we got a nice, 4 year old, decent house in Harveston for a price we can comfortably afford and the total costs with all the taxes and HOA will be less than we pay in rent for a smaller house. We’re pretty happy about it, I still feel a little bad for that one guy who bought a 1900 sq/ft house for $350,000 in here, we paid a lot less for a lot more house!

[5yes]

Well we are a handpicked buyer in Temecula – but only because we have been very proactive about our home search. We upfront let any realtor we worked with know that we were being aggressive and would be using different realtors for different houses that we offered on. We put in about 25 offers since last October. All of them were outbid (we didn’t want to fall in love and pay more than $100/ft.) or had some shady deal going on like mentioned – they would go pending the same day as they listed, or they would be sold to the realtor’s company, the same thing that others have seen. It has happened over and over to us. One day while walking to the sports park in Harveston we noticed that a short sale home we particularly liked had some activity going on – new people coming and going. We walked over and found out that the home had just been taken over by the bank. We called up the broker representing the bank and made a decent offer. The broker submitted our offer and it was accepted before the bank had even gotten the house ready for the mls, then we had to wait a couple weeks until the home was listed. It went pending after 72 hours and 5 other offers (I don’t know the prices) but ours was already accepted and we entered escrow right away. Now we are waiting for the appraisal, if it comes back lower than we have to renegotiate with the bank, but I doubt it since our offer was not even at the price the house listed for and the same as the house next door which sold last month for the same price but is smaller.

So – I know we didn’t get the best deal in Temecula (tg wins that prize) but we got a nice, 4 year old, decent house in Harveston for a price we can comfortably afford and the total costs with all the taxes and HOA will be less than we pay in rent for a smaller house. We’re pretty happy about it, I still feel a little bad for that one guy who bought a 1900 sq/ft house for $350,000 in here, we paid a lot less for a lot more house!

[5yes]

Well we are a handpicked buyer in Temecula – but only because we have been very proactive about our home search. We upfront let any realtor we worked with know that we were being aggressive and would be using different realtors for different houses that we offered on. We put in about 25 offers since last October. All of them were outbid (we didn’t want to fall in love and pay more than $100/ft.) or had some shady deal going on like mentioned – they would go pending the same day as they listed, or they would be sold to the realtor’s company, the same thing that others have seen. It has happened over and over to us. One day while walking to the sports park in Harveston we noticed that a short sale home we particularly liked had some activity going on – new people coming and going. We walked over and found out that the home had just been taken over by the bank. We called up the broker representing the bank and made a decent offer. The broker submitted our offer and it was accepted before the bank had even gotten the house ready for the mls, then we had to wait a couple weeks until the home was listed. It went pending after 72 hours and 5 other offers (I don’t know the prices) but ours was already accepted and we entered escrow right away. Now we are waiting for the appraisal, if it comes back lower than we have to renegotiate with the bank, but I doubt it since our offer was not even at the price the house listed for and the same as the house next door which sold last month for the same price but is smaller.

So – I know we didn’t get the best deal in Temecula (tg wins that prize) but we got a nice, 4 year old, decent house in Harveston for a price we can comfortably afford and the total costs with all the taxes and HOA will be less than we pay in rent for a smaller house. We’re pretty happy about it, I still feel a little bad for that one guy who bought a 1900 sq/ft house for $350,000 in here, we paid a lot less for a lot more house!

[5yes]

Well we are a handpicked buyer in Temecula – but only because we have been very proactive about our home search. We upfront let any realtor we worked with know that we were being aggressive and would be using different realtors for different houses that we offered on. We put in about 25 offers since last October. All of them were outbid (we didn’t want to fall in love and pay more than $100/ft.) or had some shady deal going on like mentioned – they would go pending the same day as they listed, or they would be sold to the realtor’s company, the same thing that others have seen. It has happened over and over to us. One day while walking to the sports park in Harveston we noticed that a short sale home we particularly liked had some activity going on – new people coming and going. We walked over and found out that the home had just been taken over by the bank. We called up the broker representing the bank and made a decent offer. The broker submitted our offer and it was accepted before the bank had even gotten the house ready for the mls, then we had to wait a couple weeks until the home was listed. It went pending after 72 hours and 5 other offers (I don’t know the prices) but ours was already accepted and we entered escrow right away. Now we are waiting for the appraisal, if it comes back lower than we have to renegotiate with the bank, but I doubt it since our offer was not even at the price the house listed for and the same as the house next door which sold last month for the same price but is smaller.

So – I know we didn’t get the best deal in Temecula (tg wins that prize) but we got a nice, 4 year old, decent house in Harveston for a price we can comfortably afford and the total costs with all the taxes and HOA will be less than we pay in rent for a smaller house. We’re pretty happy about it, I still feel a little bad for that one guy who bought a 1900 sq/ft house for $350,000 in here, we paid a lot less for a lot more house!

[5yes]

Well we are a handpicked buyer in Temecula – but only because we have been very proactive about our home search. We upfront let any realtor we worked with know that we were being aggressive and would be using different realtors for different houses that we offered on. We put in about 25 offers since last October. All of them were outbid (we didn’t want to fall in love and pay more than $100/ft.) or had some shady deal going on like mentioned – they would go pending the same day as they listed, or they would be sold to the realtor’s company, the same thing that others have seen. It has happened over and over to us. One day while walking to the sports park in Harveston we noticed that a short sale home we particularly liked had some activity going on – new people coming and going. We walked over and found out that the home had just been taken over by the bank. We called up the broker representing the bank and made a decent offer. The broker submitted our offer and it was accepted before the bank had even gotten the house ready for the mls, then we had to wait a couple weeks until the home was listed. It went pending after 72 hours and 5 other offers (I don’t know the prices) but ours was already accepted and we entered escrow right away. Now we are waiting for the appraisal, if it comes back lower than we have to renegotiate with the bank, but I doubt it since our offer was not even at the price the house listed for and the same as the house next door which sold last month for the same price but is smaller.

So – I know we didn’t get the best deal in Temecula (tg wins that prize) but we got a nice, 4 year old, decent house in Harveston for a price we can comfortably afford and the total costs with all the taxes and HOA will be less than we pay in rent for a smaller house. We’re pretty happy about it, I still feel a little bad for that one guy who bought a 1900 sq/ft house for $350,000 in here, we paid a lot less for a lot more house!

[Anonymous]

[quote=kismet37]We were very interested in an REO listing that hit the MLS on a Monday, but before we could even get in the car and go see it, it went pending that afternoon. Our agent was very surprised because she said the banks usually had a 72 hour active market time clause. When she checked it again, she could see that it was input into the MLS two days prior so total market time read 3 days, but was activated on the third day so to the public there was really only less than a day of market time. Very frustrating!

I am dying to see what the house closes for. We submitted a back-up offer and I am going to report this to the DRE if the accepted offer closes for less than what we offered. I’m sure it will go nowhere, but I feel that we as consumers need to start complaining before anything will be done. This whole realtor self-regulation thing just isn’t working. [/quote]

Well, looks like I’m going to need to report this sale to the DRE. The property I mentioned in the above post just closed for $2k over the list price of $498, which coincidentally is $110k less than what we offered. This is in no way a $500k neighborhood. Heck, it would have been a steal at $600k. The house was not a fixer and the 1/2 acre backyard had a pool that rivals the one at the Mandalay Bay.

Do any of you know how to find out if it was an all cash deal or if the buyer was related to the agent? I’d like to have as many details as possible for my complaint to the DRE. The address is 14018 Riverbend Rd. Poway, CA 92064. Thank you.

[Anonymous]

[quote=kismet37]We were very interested in an REO listing that hit the MLS on a Monday, but before we could even get in the car and go see it, it went pending that afternoon. Our agent was very surprised because she said the banks usually had a 72 hour active market time clause. When she checked it again, she could see that it was input into the MLS two days prior so total market time read 3 days, but was activated on the third day so to the public there was really only less than a day of market time. Very frustrating!

I am dying to see what the house closes for. We submitted a back-up offer and I am going to report this to the DRE if the accepted offer closes for less than what we offered. I’m sure it will go nowhere, but I feel that we as consumers need to start complaining before anything will be done. This whole realtor self-regulation thing just isn’t working. [/quote]

Well, looks like I’m going to need to report this sale to the DRE. The property I mentioned in the above post just closed for $2k over the list price of $498, which coincidentally is $110k less than what we offered. This is in no way a $500k neighborhood. Heck, it would have been a steal at $600k. The house was not a fixer and the 1/2 acre backyard had a pool that rivals the one at the Mandalay Bay.

Do any of you know how to find out if it was an all cash deal or if the buyer was related to the agent? I’d like to have as many details as possible for my complaint to the DRE. The address is 14018 Riverbend Rd. Poway, CA 92064. Thank you.

[Anonymous]

[quote=kismet37]We were very interested in an REO listing that hit the MLS on a Monday, but before we could even get in the car and go see it, it went pending that afternoon. Our agent was very surprised because she said the banks usually had a 72 hour active market time clause. When she checked it again, she could see that it was input into the MLS two days prior so total market time read 3 days, but was activated on the third day so to the public there was really only less than a day of market time. Very frustrating!

I am dying to see what the house closes for. We submitted a back-up offer and I am going to report this to the DRE if the accepted offer closes for less than what we offered. I’m sure it will go nowhere, but I feel that we as consumers need to start complaining before anything will be done. This whole realtor self-regulation thing just isn’t working. [/quote]

Well, looks like I’m going to need to report this sale to the DRE. The property I mentioned in the above post just closed for $2k over the list price of $498, which coincidentally is $110k less than what we offered. This is in no way a $500k neighborhood. Heck, it would have been a steal at $600k. The house was not a fixer and the 1/2 acre backyard had a pool that rivals the one at the Mandalay Bay.

Do any of you know how to find out if it was an all cash deal or if the buyer was related to the agent? I’d like to have as many details as possible for my complaint to the DRE. The address is 14018 Riverbend Rd. Poway, CA 92064. Thank you.

[Anonymous]

[quote=kismet37]We were very interested in an REO listing that hit the MLS on a Monday, but before we could even get in the car and go see it, it went pending that afternoon. Our agent was very surprised because she said the banks usually had a 72 hour active market time clause. When she checked it again, she could see that it was input into the MLS two days prior so total market time read 3 days, but was activated on the third day so to the public there was really only less than a day of market time. Very frustrating!

I am dying to see what the house closes for. We submitted a back-up offer and I am going to report this to the DRE if the accepted offer closes for less than what we offered. I’m sure it will go nowhere, but I feel that we as consumers need to start complaining before anything will be done. This whole realtor self-regulation thing just isn’t working. [/quote]

Well, looks like I’m going to need to report this sale to the DRE. The property I mentioned in the above post just closed for $2k over the list price of $498, which coincidentally is $110k less than what we offered. This is in no way a $500k neighborhood. Heck, it would have been a steal at $600k. The house was not a fixer and the 1/2 acre backyard had a pool that rivals the one at the Mandalay Bay.

Do any of you know how to find out if it was an all cash deal or if the buyer was related to the agent? I’d like to have as many details as possible for my complaint to the DRE. The address is 14018 Riverbend Rd. Poway, CA 92064. Thank you.

[Anonymous]

[quote=kismet37]We were very interested in an REO listing that hit the MLS on a Monday, but before we could even get in the car and go see it, it went pending that afternoon. Our agent was very surprised because she said the banks usually had a 72 hour active market time clause. When she checked it again, she could see that it was input into the MLS two days prior so total market time read 3 days, but was activated on the third day so to the public there was really only less than a day of market time. Very frustrating!

I am dying to see what the house closes for. We submitted a back-up offer and I am going to report this to the DRE if the accepted offer closes for less than what we offered. I’m sure it will go nowhere, but I feel that we as consumers need to start complaining before anything will be done. This whole realtor self-regulation thing just isn’t working. [/quote]

Well, looks like I’m going to need to report this sale to the DRE. The property I mentioned in the above post just closed for $2k over the list price of $498, which coincidentally is $110k less than what we offered. This is in no way a $500k neighborhood. Heck, it would have been a steal at $600k. The house was not a fixer and the 1/2 acre backyard had a pool that rivals the one at the Mandalay Bay.

Do any of you know how to find out if it was an all cash deal or if the buyer was related to the agent? I’d like to have as many details as possible for my complaint to the DRE. The address is 14018 Riverbend Rd. Poway, CA 92064. Thank you.

[SD Realtor]

Heller was the listing agent. He does alot of sales.

The agent for the buyer is not listed here. On the MLS he said it was an out of area agent. You can call, or ask your agent to call Hellers office to find out the name of the agent and where they operate out of. The deal was not cash. They financed 399k of the deal.

A client of mine was caught up in bidding for an REO awhile back and got outbid. The listing sold to an out of area agent, same thing. We did validate that it went for cash and we were outbid as well. So it wasn’t as bad as this deal. Sorry to hear about it.

[SD Realtor]

Heller was the listing agent. He does alot of sales.

The agent for the buyer is not listed here. On the MLS he said it was an out of area agent. You can call, or ask your agent to call Hellers office to find out the name of the agent and where they operate out of. The deal was not cash. They financed 399k of the deal.

A client of mine was caught up in bidding for an REO awhile back and got outbid. The listing sold to an out of area agent, same thing. We did validate that it went for cash and we were outbid as well. So it wasn’t as bad as this deal. Sorry to hear about it.

[SD Realtor]

Heller was the listing agent. He does alot of sales.

The agent for the buyer is not listed here. On the MLS he said it was an out of area agent. You can call, or ask your agent to call Hellers office to find out the name of the agent and where they operate out of. The deal was not cash. They financed 399k of the deal.

A client of mine was caught up in bidding for an REO awhile back and got outbid. The listing sold to an out of area agent, same thing. We did validate that it went for cash and we were outbid as well. So it wasn’t as bad as this deal. Sorry to hear about it.

[SD Realtor]

Heller was the listing agent. He does alot of sales.

The agent for the buyer is not listed here. On the MLS he said it was an out of area agent. You can call, or ask your agent to call Hellers office to find out the name of the agent and where they operate out of. The deal was not cash. They financed 399k of the deal.

A client of mine was caught up in bidding for an REO awhile back and got outbid. The listing sold to an out of area agent, same thing. We did validate that it went for cash and we were outbid as well. So it wasn’t as bad as this deal. Sorry to hear about it.

[Author]

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