[AK]

In many developments it’s against the HOA rules … and in some cities (notably in Orange Frickin’ County) artificial turf is illegal. Drought or no drought.

[AK]

[quote=bsrsharma]This is so inequitable I wonder if it’s legally enforceable.

I think anyone who wants to buy an REO is obviously weighing the risk of buying an “As Is” property with all the “Defects” in order to get a good deal. (Some times 30% off). So, it is essentially a “Venture Capital” operation. You buy a 600K property for 400K with a small chance of having a surprise $50K repair.[/quote]

Did you even read what I posted?

I was talking about an addendum that gave the servicer the right to void a signed contract at any time before closing, with no guarantee that the buyer would be reimbursed for costs incurred.

Only a bank or a servicer would consider that clause to be fair 🙂

And anyone who thinks that REOs are going for 30% off true market value … must’ve bought in 2005 🙂

[AK]

[quote=bsrsharma]This is so inequitable I wonder if it’s legally enforceable.

I think anyone who wants to buy an REO is obviously weighing the risk of buying an “As Is” property with all the “Defects” in order to get a good deal. (Some times 30% off). So, it is essentially a “Venture Capital” operation. You buy a 600K property for 400K with a small chance of having a surprise $50K repair.[/quote]

Did you even read what I posted?

I was talking about an addendum that gave the servicer the right to void a signed contract at any time before closing, with no guarantee that the buyer would be reimbursed for costs incurred.

Only a bank or a servicer would consider that clause to be fair 🙂

And anyone who thinks that REOs are going for 30% off true market value … must’ve bought in 2005 🙂

[AK]

[quote=bsrsharma]This is so inequitable I wonder if it’s legally enforceable.

I think anyone who wants to buy an REO is obviously weighing the risk of buying an “As Is” property with all the “Defects” in order to get a good deal. (Some times 30% off). So, it is essentially a “Venture Capital” operation. You buy a 600K property for 400K with a small chance of having a surprise $50K repair.[/quote]

Did you even read what I posted?

I was talking about an addendum that gave the servicer the right to void a signed contract at any time before closing, with no guarantee that the buyer would be reimbursed for costs incurred.

Only a bank or a servicer would consider that clause to be fair 🙂

And anyone who thinks that REOs are going for 30% off true market value … must’ve bought in 2005 🙂

[AK]

[quote=bsrsharma]This is so inequitable I wonder if it’s legally enforceable.

I think anyone who wants to buy an REO is obviously weighing the risk of buying an “As Is” property with all the “Defects” in order to get a good deal. (Some times 30% off). So, it is essentially a “Venture Capital” operation. You buy a 600K property for 400K with a small chance of having a surprise $50K repair.[/quote]

Did you even read what I posted?

I was talking about an addendum that gave the servicer the right to void a signed contract at any time before closing, with no guarantee that the buyer would be reimbursed for costs incurred.

Only a bank or a servicer would consider that clause to be fair 🙂

And anyone who thinks that REOs are going for 30% off true market value … must’ve bought in 2005 🙂

[AK]

[quote=bsrsharma]This is so inequitable I wonder if it’s legally enforceable.

I think anyone who wants to buy an REO is obviously weighing the risk of buying an “As Is” property with all the “Defects” in order to get a good deal. (Some times 30% off). So, it is essentially a “Venture Capital” operation. You buy a 600K property for 400K with a small chance of having a surprise $50K repair.[/quote]

Did you even read what I posted?

I was talking about an addendum that gave the servicer the right to void a signed contract at any time before closing, with no guarantee that the buyer would be reimbursed for costs incurred.

Only a bank or a servicer would consider that clause to be fair 🙂

And anyone who thinks that REOs are going for 30% off true market value … must’ve bought in 2005 🙂

[AK]

[quote=qwerty007]Using shares as collateral for a loan is probably a little shaky, but a novel way to cover your losses when those shares tumble.[/quote]

I seem to recall that it was not unknown during the dot-com era … Stamps.com and former CEO John Payne come to mind.

But Kaupthing seems to have taken it to a new level … granting loans for the purchase of its own stock, then announcing it as an infusion of capital.

[AK]

[quote=qwerty007]Using shares as collateral for a loan is probably a little shaky, but a novel way to cover your losses when those shares tumble.[/quote]

I seem to recall that it was not unknown during the dot-com era … Stamps.com and former CEO John Payne come to mind.

But Kaupthing seems to have taken it to a new level … granting loans for the purchase of its own stock, then announcing it as an infusion of capital.

[AK]

[quote=qwerty007]Using shares as collateral for a loan is probably a little shaky, but a novel way to cover your losses when those shares tumble.[/quote]

I seem to recall that it was not unknown during the dot-com era … Stamps.com and former CEO John Payne come to mind.

But Kaupthing seems to have taken it to a new level … granting loans for the purchase of its own stock, then announcing it as an infusion of capital.

[AK]

[quote=qwerty007]Using shares as collateral for a loan is probably a little shaky, but a novel way to cover your losses when those shares tumble.[/quote]

I seem to recall that it was not unknown during the dot-com era … Stamps.com and former CEO John Payne come to mind.

But Kaupthing seems to have taken it to a new level … granting loans for the purchase of its own stock, then announcing it as an infusion of capital.

[AK]

[quote=qwerty007]Using shares as collateral for a loan is probably a little shaky, but a novel way to cover your losses when those shares tumble.[/quote]

I seem to recall that it was not unknown during the dot-com era … Stamps.com and former CEO John Payne come to mind.

But Kaupthing seems to have taken it to a new level … granting loans for the purchase of its own stock, then announcing it as an infusion of capital.

[AK]

Not a week goes by that I don’t see multiple old short sale listings pop up as REOs, or relist at higher asking prices after getting kicked back by the bank.

It’s a bit of a consolation to know that relatively few people actually closed on smoking hot deals earlier this year.

[AK]

Not a week goes by that I don’t see multiple old short sale listings pop up as REOs, or relist at higher asking prices after getting kicked back by the bank.

It’s a bit of a consolation to know that relatively few people actually closed on smoking hot deals earlier this year.

[AK]

Not a week goes by that I don’t see multiple old short sale listings pop up as REOs, or relist at higher asking prices after getting kicked back by the bank.

It’s a bit of a consolation to know that relatively few people actually closed on smoking hot deals earlier this year.

[AK]

Not a week goes by that I don’t see multiple old short sale listings pop up as REOs, or relist at higher asking prices after getting kicked back by the bank.

It’s a bit of a consolation to know that relatively few people actually closed on smoking hot deals earlier this year.

[Author]

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