Who would you report shady deals to?

[SD Realtor]

Yes indeed it looks very shady. However just to correct something Mike. Yes the purchase was recorded in 2006 and they owe 475k not 380k. They financed the original purchase 100%. Second the interspousal deed was recorded back in 2006 so it is not like they just did the interspousal deed recently to list the property.

The extra low listing price is an eyeopener. I would venture to guess that it was done in order to get a bidding war. The home is not in default but it is a short sale. The listing agent does have both sides. Funny they listed it as pending because I would imagine there is no way they have approval on the short sale yet unless they got a heck of an offer.

So from that standpoint yeah I would be skeptical as well. The listing agent works for a mortgage brokerage.

[urbanrealtor]

SD, if you can explain why this is shady, I will listen. See below.

“When you list a short sale, you are REQUIRED TO INDICATE “Y” IN THE COURT/LENDER APPROVAL NEEDED FIELD. Later, when the seller has accepted an offer and you are waiting for lender approval, you do NOT have to change the status of the listing to pending, BUT YOU MUST EDIT THE MANDATORY REMARKS by using the drop down menu and choosing “Offer Accepted Pending Lender Approval of Short Sale” posted 11/07/08”

This is the guideline for shorts listed on the home page of Sandicor MLS (www.sandicor.com).

As has become common in these posts, the example given does not look shady in the least unless you only look at public access MLS sites.

Those remarks are on like half of all listings. However, generally, they are not in the publicly viewable remarks. They are usually in the confidential remarks (with the lockbox code and the owners personal cell phone).
The fact that the seller is listing it herself is also rather common. If I had to sell right now it would be short and the listing would look similar. Because short sales have to be listed low to get any offers, I would likely have tentative acceptance within 1 week.
Further, most of the public access sites have piss-poor public records access. If you can reasonably string together this same argument after viewing all records tied to this property (the assessor is at 1600 Pacific Hwy, North side of bldg), then I will listen but nothing appears amiss here.
The interspousal has a recording date of the same day that they bought the place (July 06). That is common and not sketchy.

This post is a good example of why it is a bad idea to get shrill regarding something about which one has little understanding.

[urbanrealtor]

SD, if you can explain why this is shady, I will listen. See below.

“When you list a short sale, you are REQUIRED TO INDICATE “Y” IN THE COURT/LENDER APPROVAL NEEDED FIELD. Later, when the seller has accepted an offer and you are waiting for lender approval, you do NOT have to change the status of the listing to pending, BUT YOU MUST EDIT THE MANDATORY REMARKS by using the drop down menu and choosing “Offer Accepted Pending Lender Approval of Short Sale” posted 11/07/08”

This is the guideline for shorts listed on the home page of Sandicor MLS (www.sandicor.com).

As has become common in these posts, the example given does not look shady in the least unless you only look at public access MLS sites.

Those remarks are on like half of all listings. However, generally, they are not in the publicly viewable remarks. They are usually in the confidential remarks (with the lockbox code and the owners personal cell phone).
The fact that the seller is listing it herself is also rather common. If I had to sell right now it would be short and the listing would look similar. Because short sales have to be listed low to get any offers, I would likely have tentative acceptance within 1 week.
Further, most of the public access sites have piss-poor public records access. If you can reasonably string together this same argument after viewing all records tied to this property (the assessor is at 1600 Pacific Hwy, North side of bldg), then I will listen but nothing appears amiss here.
The interspousal has a recording date of the same day that they bought the place (July 06). That is common and not sketchy.

This post is a good example of why it is a bad idea to get shrill regarding something about which one has little understanding.

[urbanrealtor]

SD, if you can explain why this is shady, I will listen. See below.

“When you list a short sale, you are REQUIRED TO INDICATE “Y” IN THE COURT/LENDER APPROVAL NEEDED FIELD. Later, when the seller has accepted an offer and you are waiting for lender approval, you do NOT have to change the status of the listing to pending, BUT YOU MUST EDIT THE MANDATORY REMARKS by using the drop down menu and choosing “Offer Accepted Pending Lender Approval of Short Sale” posted 11/07/08”

This is the guideline for shorts listed on the home page of Sandicor MLS (www.sandicor.com).

As has become common in these posts, the example given does not look shady in the least unless you only look at public access MLS sites.

Those remarks are on like half of all listings. However, generally, they are not in the publicly viewable remarks. They are usually in the confidential remarks (with the lockbox code and the owners personal cell phone).
The fact that the seller is listing it herself is also rather common. If I had to sell right now it would be short and the listing would look similar. Because short sales have to be listed low to get any offers, I would likely have tentative acceptance within 1 week.
Further, most of the public access sites have piss-poor public records access. If you can reasonably string together this same argument after viewing all records tied to this property (the assessor is at 1600 Pacific Hwy, North side of bldg), then I will listen but nothing appears amiss here.
The interspousal has a recording date of the same day that they bought the place (July 06). That is common and not sketchy.

This post is a good example of why it is a bad idea to get shrill regarding something about which one has little understanding.

[urbanrealtor]

SD, if you can explain why this is shady, I will listen. See below.

“When you list a short sale, you are REQUIRED TO INDICATE “Y” IN THE COURT/LENDER APPROVAL NEEDED FIELD. Later, when the seller has accepted an offer and you are waiting for lender approval, you do NOT have to change the status of the listing to pending, BUT YOU MUST EDIT THE MANDATORY REMARKS by using the drop down menu and choosing “Offer Accepted Pending Lender Approval of Short Sale” posted 11/07/08”

This is the guideline for shorts listed on the home page of Sandicor MLS (www.sandicor.com).

As has become common in these posts, the example given does not look shady in the least unless you only look at public access MLS sites.

Those remarks are on like half of all listings. However, generally, they are not in the publicly viewable remarks. They are usually in the confidential remarks (with the lockbox code and the owners personal cell phone).
The fact that the seller is listing it herself is also rather common. If I had to sell right now it would be short and the listing would look similar. Because short sales have to be listed low to get any offers, I would likely have tentative acceptance within 1 week.
Further, most of the public access sites have piss-poor public records access. If you can reasonably string together this same argument after viewing all records tied to this property (the assessor is at 1600 Pacific Hwy, North side of bldg), then I will listen but nothing appears amiss here.
The interspousal has a recording date of the same day that they bought the place (July 06). That is common and not sketchy.

This post is a good example of why it is a bad idea to get shrill regarding something about which one has little understanding.

[urbanrealtor]

SD, if you can explain why this is shady, I will listen. See below.

“When you list a short sale, you are REQUIRED TO INDICATE “Y” IN THE COURT/LENDER APPROVAL NEEDED FIELD. Later, when the seller has accepted an offer and you are waiting for lender approval, you do NOT have to change the status of the listing to pending, BUT YOU MUST EDIT THE MANDATORY REMARKS by using the drop down menu and choosing “Offer Accepted Pending Lender Approval of Short Sale” posted 11/07/08”

This is the guideline for shorts listed on the home page of Sandicor MLS (www.sandicor.com).

As has become common in these posts, the example given does not look shady in the least unless you only look at public access MLS sites.

Those remarks are on like half of all listings. However, generally, they are not in the publicly viewable remarks. They are usually in the confidential remarks (with the lockbox code and the owners personal cell phone).
The fact that the seller is listing it herself is also rather common. If I had to sell right now it would be short and the listing would look similar. Because short sales have to be listed low to get any offers, I would likely have tentative acceptance within 1 week.
Further, most of the public access sites have piss-poor public records access. If you can reasonably string together this same argument after viewing all records tied to this property (the assessor is at 1600 Pacific Hwy, North side of bldg), then I will listen but nothing appears amiss here.
The interspousal has a recording date of the same day that they bought the place (July 06). That is common and not sketchy.

This post is a good example of why it is a bad idea to get shrill regarding something about which one has little understanding.

[temeculaguy]

I was going to say the same thing urban said but i would have been nicer in the end, I’m just playing urban, we appreciate the info but this isn’t the place to tell everyone they don’t know anything, be nice, have a glass of wine, i’ll even buy.

I am a lot less worried about the banks not caring, they are going to care about things starting today now that Paulson has decided to change course and let the mortgages fall and foreclose, no bailout for toxic mortgages, suprised nobody posted the news stories from today about that.

[temeculaguy]

I was going to say the same thing urban said but i would have been nicer in the end, I’m just playing urban, we appreciate the info but this isn’t the place to tell everyone they don’t know anything, be nice, have a glass of wine, i’ll even buy.

I am a lot less worried about the banks not caring, they are going to care about things starting today now that Paulson has decided to change course and let the mortgages fall and foreclose, no bailout for toxic mortgages, suprised nobody posted the news stories from today about that.

[temeculaguy]

I was going to say the same thing urban said but i would have been nicer in the end, I’m just playing urban, we appreciate the info but this isn’t the place to tell everyone they don’t know anything, be nice, have a glass of wine, i’ll even buy.

I am a lot less worried about the banks not caring, they are going to care about things starting today now that Paulson has decided to change course and let the mortgages fall and foreclose, no bailout for toxic mortgages, suprised nobody posted the news stories from today about that.

[temeculaguy]

I was going to say the same thing urban said but i would have been nicer in the end, I’m just playing urban, we appreciate the info but this isn’t the place to tell everyone they don’t know anything, be nice, have a glass of wine, i’ll even buy.

I am a lot less worried about the banks not caring, they are going to care about things starting today now that Paulson has decided to change course and let the mortgages fall and foreclose, no bailout for toxic mortgages, suprised nobody posted the news stories from today about that.

[temeculaguy]

I was going to say the same thing urban said but i would have been nicer in the end, I’m just playing urban, we appreciate the info but this isn’t the place to tell everyone they don’t know anything, be nice, have a glass of wine, i’ll even buy.

I am a lot less worried about the banks not caring, they are going to care about things starting today now that Paulson has decided to change course and let the mortgages fall and foreclose, no bailout for toxic mortgages, suprised nobody posted the news stories from today about that.

[NotCranky]

What seems like a red flag Dan, is whether or not this is an arms length transaction. The suspicion is there, not confirmed.

Edit, sorry re-read and see you think it is unlikely to be other than an arms length deal.So you have considered that… at least to some degree.

[NotCranky]

What seems like a red flag Dan, is whether or not this is an arms length transaction. The suspicion is there, not confirmed.

Edit, sorry re-read and see you think it is unlikely to be other than an arms length deal.So you have considered that… at least to some degree.

[NotCranky]

What seems like a red flag Dan, is whether or not this is an arms length transaction. The suspicion is there, not confirmed.

Edit, sorry re-read and see you think it is unlikely to be other than an arms length deal.So you have considered that… at least to some degree.

[NotCranky]

What seems like a red flag Dan, is whether or not this is an arms length transaction. The suspicion is there, not confirmed.

Edit, sorry re-read and see you think it is unlikely to be other than an arms length deal.So you have considered that… at least to some degree.

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