[recordsclerk]

SDR,

The secret is where the money comes from. The money is going to the lender and will be on the Hud. I agree with that. My point was that I had to make a contribution under the sellers name into escrow via a blank check or a check with the sellers name on it. The check could not have my name on it. The money was not going to the seller to keep. There was only 1 lender because the seller put down 20%. We were the second buyers for this deal and that’s why we knew what the BPO had come in at. While under contract with the first buyer they tried to counter out the contribution to the bank from seller. I think that’s why the deal fell out.

[recordsclerk]

SDR,

The secret is where the money comes from. The money is going to the lender and will be on the Hud. I agree with that. My point was that I had to make a contribution under the sellers name into escrow via a blank check or a check with the sellers name on it. The check could not have my name on it. The money was not going to the seller to keep. There was only 1 lender because the seller put down 20%. We were the second buyers for this deal and that’s why we knew what the BPO had come in at. While under contract with the first buyer they tried to counter out the contribution to the bank from seller. I think that’s why the deal fell out.

[recordsclerk]

The rental agreement was in the confidential remarks. The seller was willing to pay PITI for 30 days rent. We just gave them the 30 days free. The secret pay out was not disclosed. It was in an adendom that was not shown to escrow or lenders. These are the things that make short sales difficult and you are proving your own point by not wanting to play along with the unwritten rules. On that deal we were putting down 40% and had plenty of reserves to pay off any request. We have lost on so many bids, I have lost count. Short sales are the best deals out there for the patient buyer that is flexible.

[recordsclerk]

The rental agreement was in the confidential remarks. The seller was willing to pay PITI for 30 days rent. We just gave them the 30 days free. The secret pay out was not disclosed. It was in an adendom that was not shown to escrow or lenders. These are the things that make short sales difficult and you are proving your own point by not wanting to play along with the unwritten rules. On that deal we were putting down 40% and had plenty of reserves to pay off any request. We have lost on so many bids, I have lost count. Short sales are the best deals out there for the patient buyer that is flexible.

[recordsclerk]

The rental agreement was in the confidential remarks. The seller was willing to pay PITI for 30 days rent. We just gave them the 30 days free. The secret pay out was not disclosed. It was in an adendom that was not shown to escrow or lenders. These are the things that make short sales difficult and you are proving your own point by not wanting to play along with the unwritten rules. On that deal we were putting down 40% and had plenty of reserves to pay off any request. We have lost on so many bids, I have lost count. Short sales are the best deals out there for the patient buyer that is flexible.

[recordsclerk]

The rental agreement was in the confidential remarks. The seller was willing to pay PITI for 30 days rent. We just gave them the 30 days free. The secret pay out was not disclosed. It was in an adendom that was not shown to escrow or lenders. These are the things that make short sales difficult and you are proving your own point by not wanting to play along with the unwritten rules. On that deal we were putting down 40% and had plenty of reserves to pay off any request. We have lost on so many bids, I have lost count. Short sales are the best deals out there for the patient buyer that is flexible.

[recordsclerk]

The rental agreement was in the confidential remarks. The seller was willing to pay PITI for 30 days rent. We just gave them the 30 days free. The secret pay out was not disclosed. It was in an adendom that was not shown to escrow or lenders. These are the things that make short sales difficult and you are proving your own point by not wanting to play along with the unwritten rules. On that deal we were putting down 40% and had plenty of reserves to pay off any request. We have lost on so many bids, I have lost count. Short sales are the best deals out there for the patient buyer that is flexible.

[recordsclerk]

It had to be secret because the Lender wanted the seller to come in with some money for them to sign off on the deal. If the seller was willing to come in with the money, it would not have been a secret. The seller was unwilling to pay and yet the deal still went through. The check into escrow had to come from the seller. Escrow did not know where the funds came from. I’m sure the eventual buyer paid this amount to make the deal happen. The bank would not budge and the seller did not want to put anything into the deal. The seller had alrady lost a couple hundred grand downpayment. The seller made all their payments, paid their taxes and HOA. Nothing was delinquent. It was the bank that played hard ball. This happens if you like it or not. I did not make the rules. This was one of the reasons we backed out of the deal. But it was not the main reason. The house just wasn’t the one for us.
We were in another deal where the seller was going to take all the appliances. So we low balled the offer and we agreed to purchase all the appliances for above new retail price. The BPO came in too high and we walked. The listing came back on line with the BPO price and sat. They had to lower the listing again before someone came in. Still not sold and it’s been 8 months.
This is why I suggest that you talk to the agent to get the advantage. If you call it cheating then it’s cheating. I make 35K a year working 40hrs a week and I’m not going to throw away my money because I want to play fair. The system is cheating us.

[recordsclerk]

It had to be secret because the Lender wanted the seller to come in with some money for them to sign off on the deal. If the seller was willing to come in with the money, it would not have been a secret. The seller was unwilling to pay and yet the deal still went through. The check into escrow had to come from the seller. Escrow did not know where the funds came from. I’m sure the eventual buyer paid this amount to make the deal happen. The bank would not budge and the seller did not want to put anything into the deal. The seller had alrady lost a couple hundred grand downpayment. The seller made all their payments, paid their taxes and HOA. Nothing was delinquent. It was the bank that played hard ball. This happens if you like it or not. I did not make the rules. This was one of the reasons we backed out of the deal. But it was not the main reason. The house just wasn’t the one for us.
We were in another deal where the seller was going to take all the appliances. So we low balled the offer and we agreed to purchase all the appliances for above new retail price. The BPO came in too high and we walked. The listing came back on line with the BPO price and sat. They had to lower the listing again before someone came in. Still not sold and it’s been 8 months.
This is why I suggest that you talk to the agent to get the advantage. If you call it cheating then it’s cheating. I make 35K a year working 40hrs a week and I’m not going to throw away my money because I want to play fair. The system is cheating us.

[recordsclerk]

It had to be secret because the Lender wanted the seller to come in with some money for them to sign off on the deal. If the seller was willing to come in with the money, it would not have been a secret. The seller was unwilling to pay and yet the deal still went through. The check into escrow had to come from the seller. Escrow did not know where the funds came from. I’m sure the eventual buyer paid this amount to make the deal happen. The bank would not budge and the seller did not want to put anything into the deal. The seller had alrady lost a couple hundred grand downpayment. The seller made all their payments, paid their taxes and HOA. Nothing was delinquent. It was the bank that played hard ball. This happens if you like it or not. I did not make the rules. This was one of the reasons we backed out of the deal. But it was not the main reason. The house just wasn’t the one for us.
We were in another deal where the seller was going to take all the appliances. So we low balled the offer and we agreed to purchase all the appliances for above new retail price. The BPO came in too high and we walked. The listing came back on line with the BPO price and sat. They had to lower the listing again before someone came in. Still not sold and it’s been 8 months.
This is why I suggest that you talk to the agent to get the advantage. If you call it cheating then it’s cheating. I make 35K a year working 40hrs a week and I’m not going to throw away my money because I want to play fair. The system is cheating us.

[recordsclerk]

It had to be secret because the Lender wanted the seller to come in with some money for them to sign off on the deal. If the seller was willing to come in with the money, it would not have been a secret. The seller was unwilling to pay and yet the deal still went through. The check into escrow had to come from the seller. Escrow did not know where the funds came from. I’m sure the eventual buyer paid this amount to make the deal happen. The bank would not budge and the seller did not want to put anything into the deal. The seller had alrady lost a couple hundred grand downpayment. The seller made all their payments, paid their taxes and HOA. Nothing was delinquent. It was the bank that played hard ball. This happens if you like it or not. I did not make the rules. This was one of the reasons we backed out of the deal. But it was not the main reason. The house just wasn’t the one for us.
We were in another deal where the seller was going to take all the appliances. So we low balled the offer and we agreed to purchase all the appliances for above new retail price. The BPO came in too high and we walked. The listing came back on line with the BPO price and sat. They had to lower the listing again before someone came in. Still not sold and it’s been 8 months.
This is why I suggest that you talk to the agent to get the advantage. If you call it cheating then it’s cheating. I make 35K a year working 40hrs a week and I’m not going to throw away my money because I want to play fair. The system is cheating us.

[recordsclerk]

It had to be secret because the Lender wanted the seller to come in with some money for them to sign off on the deal. If the seller was willing to come in with the money, it would not have been a secret. The seller was unwilling to pay and yet the deal still went through. The check into escrow had to come from the seller. Escrow did not know where the funds came from. I’m sure the eventual buyer paid this amount to make the deal happen. The bank would not budge and the seller did not want to put anything into the deal. The seller had alrady lost a couple hundred grand downpayment. The seller made all their payments, paid their taxes and HOA. Nothing was delinquent. It was the bank that played hard ball. This happens if you like it or not. I did not make the rules. This was one of the reasons we backed out of the deal. But it was not the main reason. The house just wasn’t the one for us.
We were in another deal where the seller was going to take all the appliances. So we low balled the offer and we agreed to purchase all the appliances for above new retail price. The BPO came in too high and we walked. The listing came back on line with the BPO price and sat. They had to lower the listing again before someone came in. Still not sold and it’s been 8 months.
This is why I suggest that you talk to the agent to get the advantage. If you call it cheating then it’s cheating. I make 35K a year working 40hrs a week and I’m not going to throw away my money because I want to play fair. The system is cheating us.

[recordsclerk]

I’ve seen success first hand going directly to the listing agent. They will pay a flat rate for someone in their office to officially represent you and double end the deal. The flat fee is a small token compared to the listing agent’s commission. I believe they do this to make sure the lender (actual owner of the house) will pay out both sides of the commission. Some agents will make sure you know what the highest bid or suggest what you should bid to win. Some will sway the buyer to take your offer even if it’s not the best. We are currently working on a property for my cousin using this strategy. We will know in about a week if this works out. I would not ask for a rebate from the listing agent. I just want to be able to get to the front of the line on highly contested short sales.
I have worked out a couple of deals with listing agents in the past regarding rebate splits. The properties never materialized. I’m still in contact with them and check to see if they have listings that I want. I have an agent that sends me Emails when they get anything similar to what I looking for. When/if they have something I want I can just give them a call and work out something. The rebates have never been that attractive. Don’t think you are going to get 1.5-2% of the listing. You can get a 1.5% or 1/2 commission rebate if you work with a buyer’s agent. Usually they will have to independent brokers to give that kind of rebate.
I have learned that in this market you need to think out of the box. On short sales you have to be creative. If you have an opportunity to talk directly to the listing agent, you can get valuable information regarding the sale of the property. Sometimes the seller wants something that is simple to provide had you just known about it while writing up the offer. We were successful on a highly sought after property because we had some knowledge of what it was going to take to make the deal work. We spoke directly to the listing agent and found out that the BPO had already been done at listing price which was low for the current market. The only problem was that the bank wanted a seller contribution that the seller did not want to make. The offer had to come in at list price and the buyer had to make a secret payment for the seller to the bank in escrow. The seller also wanted a 30 day rent back lease. We simply offered to pay the debt and give 30 days free rent. Put in the offer at list price and guess what we won. There were only 4 offers because the listing agent only showed it to 2 people. We had the lowest bid regarding offering list price, but we were somewhere in the middle as for as offering list + secret money. Had I not had my conversation with the listing agent, we would have made the wrong offer. We did back out of this deal, but that doesn’t mean that it wasn’t a great deal. It wasn’t the right house for us. The house did eventually close 15K higher then what we were under contract for. Even at that price they got the best deal for that floor plan. They paid less for that model then anyone to this date. Plus the house had the most interior upgrades for that model and was in pristine condition.

[recordsclerk]

I’ve seen success first hand going directly to the listing agent. They will pay a flat rate for someone in their office to officially represent you and double end the deal. The flat fee is a small token compared to the listing agent’s commission. I believe they do this to make sure the lender (actual owner of the house) will pay out both sides of the commission. Some agents will make sure you know what the highest bid or suggest what you should bid to win. Some will sway the buyer to take your offer even if it’s not the best. We are currently working on a property for my cousin using this strategy. We will know in about a week if this works out. I would not ask for a rebate from the listing agent. I just want to be able to get to the front of the line on highly contested short sales.
I have worked out a couple of deals with listing agents in the past regarding rebate splits. The properties never materialized. I’m still in contact with them and check to see if they have listings that I want. I have an agent that sends me Emails when they get anything similar to what I looking for. When/if they have something I want I can just give them a call and work out something. The rebates have never been that attractive. Don’t think you are going to get 1.5-2% of the listing. You can get a 1.5% or 1/2 commission rebate if you work with a buyer’s agent. Usually they will have to independent brokers to give that kind of rebate.
I have learned that in this market you need to think out of the box. On short sales you have to be creative. If you have an opportunity to talk directly to the listing agent, you can get valuable information regarding the sale of the property. Sometimes the seller wants something that is simple to provide had you just known about it while writing up the offer. We were successful on a highly sought after property because we had some knowledge of what it was going to take to make the deal work. We spoke directly to the listing agent and found out that the BPO had already been done at listing price which was low for the current market. The only problem was that the bank wanted a seller contribution that the seller did not want to make. The offer had to come in at list price and the buyer had to make a secret payment for the seller to the bank in escrow. The seller also wanted a 30 day rent back lease. We simply offered to pay the debt and give 30 days free rent. Put in the offer at list price and guess what we won. There were only 4 offers because the listing agent only showed it to 2 people. We had the lowest bid regarding offering list price, but we were somewhere in the middle as for as offering list + secret money. Had I not had my conversation with the listing agent, we would have made the wrong offer. We did back out of this deal, but that doesn’t mean that it wasn’t a great deal. It wasn’t the right house for us. The house did eventually close 15K higher then what we were under contract for. Even at that price they got the best deal for that floor plan. They paid less for that model then anyone to this date. Plus the house had the most interior upgrades for that model and was in pristine condition.

[recordsclerk]

I’ve seen success first hand going directly to the listing agent. They will pay a flat rate for someone in their office to officially represent you and double end the deal. The flat fee is a small token compared to the listing agent’s commission. I believe they do this to make sure the lender (actual owner of the house) will pay out both sides of the commission. Some agents will make sure you know what the highest bid or suggest what you should bid to win. Some will sway the buyer to take your offer even if it’s not the best. We are currently working on a property for my cousin using this strategy. We will know in about a week if this works out. I would not ask for a rebate from the listing agent. I just want to be able to get to the front of the line on highly contested short sales.
I have worked out a couple of deals with listing agents in the past regarding rebate splits. The properties never materialized. I’m still in contact with them and check to see if they have listings that I want. I have an agent that sends me Emails when they get anything similar to what I looking for. When/if they have something I want I can just give them a call and work out something. The rebates have never been that attractive. Don’t think you are going to get 1.5-2% of the listing. You can get a 1.5% or 1/2 commission rebate if you work with a buyer’s agent. Usually they will have to independent brokers to give that kind of rebate.
I have learned that in this market you need to think out of the box. On short sales you have to be creative. If you have an opportunity to talk directly to the listing agent, you can get valuable information regarding the sale of the property. Sometimes the seller wants something that is simple to provide had you just known about it while writing up the offer. We were successful on a highly sought after property because we had some knowledge of what it was going to take to make the deal work. We spoke directly to the listing agent and found out that the BPO had already been done at listing price which was low for the current market. The only problem was that the bank wanted a seller contribution that the seller did not want to make. The offer had to come in at list price and the buyer had to make a secret payment for the seller to the bank in escrow. The seller also wanted a 30 day rent back lease. We simply offered to pay the debt and give 30 days free rent. Put in the offer at list price and guess what we won. There were only 4 offers because the listing agent only showed it to 2 people. We had the lowest bid regarding offering list price, but we were somewhere in the middle as for as offering list + secret money. Had I not had my conversation with the listing agent, we would have made the wrong offer. We did back out of this deal, but that doesn’t mean that it wasn’t a great deal. It wasn’t the right house for us. The house did eventually close 15K higher then what we were under contract for. Even at that price they got the best deal for that floor plan. They paid less for that model then anyone to this date. Plus the house had the most interior upgrades for that model and was in pristine condition.

[Author]

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