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cantab
ParticipantRight now in my house we have a Christmas dinner guest who is physically and mentally disabled, and lives in a group home of this sort.
I helped his relatives move him into his group home. At the time the neighbors had hurtful protest signs across the street. Since then there have been no problems at all.
Whenever you buy a house there is always a risk that someone you don’t like will move in nearby. Maybe you are “right” maybe you aren’t. I have a relative who felt obliged to sell his co-op in New York because of noisy new neighbors.
Participant“There is absolutely nothing fraudulent about a homeowner withholding better offers in a short sale situation.”
Quite possibly this doesn’t meet the legal definition of fraud. Presumably the listing agent represents the seller, not the bank. But in this case, the bank (and the actual owner of the mortgage, and the taxpayer, who are the ones taking the loss) should have independent representation.
“Now if the bank specifically inquires regarding other offers and they are told no other offers exist, that is probably fraud.”
I hope the bank does inquire. But even with disclosure, it’s easy for an agent and/or current occupant to badmouth other offers, with little paper trail, and induce the bank to accept the “inside” offer. The fundamental problem is misaligned incentives.
Participant“There is absolutely nothing fraudulent about a homeowner withholding better offers in a short sale situation.”
Quite possibly this doesn’t meet the legal definition of fraud. Presumably the listing agent represents the seller, not the bank. But in this case, the bank (and the actual owner of the mortgage, and the taxpayer, who are the ones taking the loss) should have independent representation.
“Now if the bank specifically inquires regarding other offers and they are told no other offers exist, that is probably fraud.”
I hope the bank does inquire. But even with disclosure, it’s easy for an agent and/or current occupant to badmouth other offers, with little paper trail, and induce the bank to accept the “inside” offer. The fundamental problem is misaligned incentives.
Participant“There is absolutely nothing fraudulent about a homeowner withholding better offers in a short sale situation.”
Quite possibly this doesn’t meet the legal definition of fraud. Presumably the listing agent represents the seller, not the bank. But in this case, the bank (and the actual owner of the mortgage, and the taxpayer, who are the ones taking the loss) should have independent representation.
“Now if the bank specifically inquires regarding other offers and they are told no other offers exist, that is probably fraud.”
I hope the bank does inquire. But even with disclosure, it’s easy for an agent and/or current occupant to badmouth other offers, with little paper trail, and induce the bank to accept the “inside” offer. The fundamental problem is misaligned incentives.
Participant“There is absolutely nothing fraudulent about a homeowner withholding better offers in a short sale situation.”
Quite possibly this doesn’t meet the legal definition of fraud. Presumably the listing agent represents the seller, not the bank. But in this case, the bank (and the actual owner of the mortgage, and the taxpayer, who are the ones taking the loss) should have independent representation.
“Now if the bank specifically inquires regarding other offers and they are told no other offers exist, that is probably fraud.”
I hope the bank does inquire. But even with disclosure, it’s easy for an agent and/or current occupant to badmouth other offers, with little paper trail, and induce the bank to accept the “inside” offer. The fundamental problem is misaligned incentives.
Participant“There is absolutely nothing fraudulent about a homeowner withholding better offers in a short sale situation.”
Quite possibly this doesn’t meet the legal definition of fraud. Presumably the listing agent represents the seller, not the bank. But in this case, the bank (and the actual owner of the mortgage, and the taxpayer, who are the ones taking the loss) should have independent representation.
“Now if the bank specifically inquires regarding other offers and they are told no other offers exist, that is probably fraud.”
I hope the bank does inquire. But even with disclosure, it’s easy for an agent and/or current occupant to badmouth other offers, with little paper trail, and induce the bank to accept the “inside” offer. The fundamental problem is misaligned incentives.
ParticipantThis house has been discussed in two previous threads.
September 23 last year, listed at $680,000:
http://piggington.com/big_losses_in_del_surAnd $610,000 on March 2 of this year:
http://piggington.com/8280_katherine_claire_ct_92127ParticipantThis house has been discussed in two previous threads.
September 23 last year, listed at $680,000:
http://piggington.com/big_losses_in_del_surAnd $610,000 on March 2 of this year:
http://piggington.com/8280_katherine_claire_ct_92127ParticipantThis house has been discussed in two previous threads.
September 23 last year, listed at $680,000:
http://piggington.com/big_losses_in_del_surAnd $610,000 on March 2 of this year:
http://piggington.com/8280_katherine_claire_ct_92127ParticipantThis house has been discussed in two previous threads.
September 23 last year, listed at $680,000:
http://piggington.com/big_losses_in_del_surAnd $610,000 on March 2 of this year:
http://piggington.com/8280_katherine_claire_ct_92127ParticipantThis house has been discussed in two previous threads.
September 23 last year, listed at $680,000:
http://piggington.com/big_losses_in_del_surAnd $610,000 on March 2 of this year:
http://piggington.com/8280_katherine_claire_ct_92127ParticipantSold for $665,000, closed on May 19.
http://www.redfin.com/CA/San-Diego/5151-Foothill-Blvd-92109/home/5135763
Looks like it attracted offers immediately, then closed in less than 30 days.
Does anyone have an opinion: what does a single comp like this do to values nearby?
ParticipantSold for $665,000, closed on May 19.
http://www.redfin.com/CA/San-Diego/5151-Foothill-Blvd-92109/home/5135763
Looks like it attracted offers immediately, then closed in less than 30 days.
Does anyone have an opinion: what does a single comp like this do to values nearby?
ParticipantSold for $665,000, closed on May 19.
http://www.redfin.com/CA/San-Diego/5151-Foothill-Blvd-92109/home/5135763
Looks like it attracted offers immediately, then closed in less than 30 days.
Does anyone have an opinion: what does a single comp like this do to values nearby?
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