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SD Realtor
ParticipantSorry Raptor I am freeking swamped right now. I have no clue why….
If it has not gone to the bank yet then ask your agent to contact the owner and basically send them a letter of intent. Is the home on the MLS (or was it on the MLS?) or is it just a home that is in distress and you have been hawking it. The situation may present an opportunity for you to assume the loan or something of that nature. I guess my answer would depend a little bit more on the details of the situation.
Regardless, contacting the owner is the first thing to do IF THE OWNER IS NOT REPRESENTED. Otherwise contact the agent.
A few months back Asianautica spied a NOD and knew it was one that may interest me. I ended up going to the guys home… left him notes… tried to call him… finally I found out where he worked and went to the store he owned and met him. I know that all sounds kind of stalking like but most people in distress are reclusive because of bill collectors and such. So I wanted him to know I wasn’t anything like that. Well he was actually pretty good about all that but ended up curing his default. Anyways that was my short story.
As far as your agent goes. It is a sticky one. Depends on what sort of nomenclature you have used in your representation agreement with him/her.
Where in the default process are they? As long as the owner is still on title you deal with the owner first. Then you may be able to work with someone in the loan workout group if things move forward.
SD Realtor
ParticipantSorry Raptor I am freeking swamped right now. I have no clue why….
If it has not gone to the bank yet then ask your agent to contact the owner and basically send them a letter of intent. Is the home on the MLS (or was it on the MLS?) or is it just a home that is in distress and you have been hawking it. The situation may present an opportunity for you to assume the loan or something of that nature. I guess my answer would depend a little bit more on the details of the situation.
Regardless, contacting the owner is the first thing to do IF THE OWNER IS NOT REPRESENTED. Otherwise contact the agent.
A few months back Asianautica spied a NOD and knew it was one that may interest me. I ended up going to the guys home… left him notes… tried to call him… finally I found out where he worked and went to the store he owned and met him. I know that all sounds kind of stalking like but most people in distress are reclusive because of bill collectors and such. So I wanted him to know I wasn’t anything like that. Well he was actually pretty good about all that but ended up curing his default. Anyways that was my short story.
As far as your agent goes. It is a sticky one. Depends on what sort of nomenclature you have used in your representation agreement with him/her.
Where in the default process are they? As long as the owner is still on title you deal with the owner first. Then you may be able to work with someone in the loan workout group if things move forward.
SD Realtor
ParticipantSorry Raptor I am freeking swamped right now. I have no clue why….
If it has not gone to the bank yet then ask your agent to contact the owner and basically send them a letter of intent. Is the home on the MLS (or was it on the MLS?) or is it just a home that is in distress and you have been hawking it. The situation may present an opportunity for you to assume the loan or something of that nature. I guess my answer would depend a little bit more on the details of the situation.
Regardless, contacting the owner is the first thing to do IF THE OWNER IS NOT REPRESENTED. Otherwise contact the agent.
A few months back Asianautica spied a NOD and knew it was one that may interest me. I ended up going to the guys home… left him notes… tried to call him… finally I found out where he worked and went to the store he owned and met him. I know that all sounds kind of stalking like but most people in distress are reclusive because of bill collectors and such. So I wanted him to know I wasn’t anything like that. Well he was actually pretty good about all that but ended up curing his default. Anyways that was my short story.
As far as your agent goes. It is a sticky one. Depends on what sort of nomenclature you have used in your representation agreement with him/her.
Where in the default process are they? As long as the owner is still on title you deal with the owner first. Then you may be able to work with someone in the loan workout group if things move forward.
SD Realtor
ParticipantTypically all lenders and service organizations do not deal with buyers directly. They hire a brokerage to sell the property directly. You can have your realtor contact the listing agent or you can call the listing agent directly if you don’t care about any representation. If you do call that listing agent that agent will get both sides so try to get a rebate out of him/her for some of the commission. If you list the property address I can let you know who is representing the property. If you don’t want to list the address of the property I understand.
Robyns Song and Bugs are absolutely right in thier posts. The servicing org will definitely want to do the BPO before they list it on the MLS and they will not look at any offers before that regardless.
ParticipantTypically all lenders and service organizations do not deal with buyers directly. They hire a brokerage to sell the property directly. You can have your realtor contact the listing agent or you can call the listing agent directly if you don’t care about any representation. If you do call that listing agent that agent will get both sides so try to get a rebate out of him/her for some of the commission. If you list the property address I can let you know who is representing the property. If you don’t want to list the address of the property I understand.
Robyns Song and Bugs are absolutely right in thier posts. The servicing org will definitely want to do the BPO before they list it on the MLS and they will not look at any offers before that regardless.
ParticipantTypically all lenders and service organizations do not deal with buyers directly. They hire a brokerage to sell the property directly. You can have your realtor contact the listing agent or you can call the listing agent directly if you don’t care about any representation. If you do call that listing agent that agent will get both sides so try to get a rebate out of him/her for some of the commission. If you list the property address I can let you know who is representing the property. If you don’t want to list the address of the property I understand.
Robyns Song and Bugs are absolutely right in thier posts. The servicing org will definitely want to do the BPO before they list it on the MLS and they will not look at any offers before that regardless.
ParticipantTypically all lenders and service organizations do not deal with buyers directly. They hire a brokerage to sell the property directly. You can have your realtor contact the listing agent or you can call the listing agent directly if you don’t care about any representation. If you do call that listing agent that agent will get both sides so try to get a rebate out of him/her for some of the commission. If you list the property address I can let you know who is representing the property. If you don’t want to list the address of the property I understand.
Robyns Song and Bugs are absolutely right in thier posts. The servicing org will definitely want to do the BPO before they list it on the MLS and they will not look at any offers before that regardless.
ParticipantTypically all lenders and service organizations do not deal with buyers directly. They hire a brokerage to sell the property directly. You can have your realtor contact the listing agent or you can call the listing agent directly if you don’t care about any representation. If you do call that listing agent that agent will get both sides so try to get a rebate out of him/her for some of the commission. If you list the property address I can let you know who is representing the property. If you don’t want to list the address of the property I understand.
Robyns Song and Bugs are absolutely right in thier posts. The servicing org will definitely want to do the BPO before they list it on the MLS and they will not look at any offers before that regardless.
January 10, 2008 at 11:38 PM in reply to: How do you see a Democratic prez handling the mortgage crash? #134002ParticipantIt doesn’t really matter who gets elected (with the exception of Ron Paul) because the taxpayers will end up paying in one way or another. If/when Hillary does win it then yes our tax burden will be maximized in my humble opinion.
SD Realtor
January 10, 2008 at 11:38 PM in reply to: How do you see a Democratic prez handling the mortgage crash? #134195ParticipantIt doesn’t really matter who gets elected (with the exception of Ron Paul) because the taxpayers will end up paying in one way or another. If/when Hillary does win it then yes our tax burden will be maximized in my humble opinion.
SD Realtor
January 10, 2008 at 11:38 PM in reply to: How do you see a Democratic prez handling the mortgage crash? #134204ParticipantIt doesn’t really matter who gets elected (with the exception of Ron Paul) because the taxpayers will end up paying in one way or another. If/when Hillary does win it then yes our tax burden will be maximized in my humble opinion.
SD Realtor
January 10, 2008 at 11:38 PM in reply to: How do you see a Democratic prez handling the mortgage crash? #134259ParticipantIt doesn’t really matter who gets elected (with the exception of Ron Paul) because the taxpayers will end up paying in one way or another. If/when Hillary does win it then yes our tax burden will be maximized in my humble opinion.
SD Realtor
January 10, 2008 at 11:38 PM in reply to: How do you see a Democratic prez handling the mortgage crash? #134297ParticipantIt doesn’t really matter who gets elected (with the exception of Ron Paul) because the taxpayers will end up paying in one way or another. If/when Hillary does win it then yes our tax burden will be maximized in my humble opinion.
SD Realtor
ParticipantPretty insightful FLU.
This certainly would fit the pattern.
SD Realtor
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