[SD Realtor]

Tom it is not possible to work through a bank directly. Banks are bound by privacy laws to only work with the people that own the home OR an authorized 3rd party that those people DIRECTLY instruct the bank to work with in writing.

Anyways, it is unfortunate what happened but you said they couldn’t pay the rent anyways so did that deal fall through or did it keep going? Was your offer higher then the other buyers?

[SD Realtor]

Tom it is not possible to work through a bank directly. Banks are bound by privacy laws to only work with the people that own the home OR an authorized 3rd party that those people DIRECTLY instruct the bank to work with in writing.

Anyways, it is unfortunate what happened but you said they couldn’t pay the rent anyways so did that deal fall through or did it keep going? Was your offer higher then the other buyers?

[SD Realtor]

Tom it is not possible to work through a bank directly. Banks are bound by privacy laws to only work with the people that own the home OR an authorized 3rd party that those people DIRECTLY instruct the bank to work with in writing.

Anyways, it is unfortunate what happened but you said they couldn’t pay the rent anyways so did that deal fall through or did it keep going? Was your offer higher then the other buyers?

[SD Realtor]

Tom it is not possible to work through a bank directly. Banks are bound by privacy laws to only work with the people that own the home OR an authorized 3rd party that those people DIRECTLY instruct the bank to work with in writing.

Anyways, it is unfortunate what happened but you said they couldn’t pay the rent anyways so did that deal fall through or did it keep going? Was your offer higher then the other buyers?

[SD Realtor]

So there are a few things at issue here.

The first thing is that most short sales will require that all parties sign off on the transaction being an arms length transaction. By signing this document all parties are implying that the sale is not being made to family or friends.

People do lie though.

Second off, there is still a fair amount of straddling going on. A straddle is a middle man or investor that will purchase the home for cash and while the short sale is still going, will essentially try to resell the home. So he goes in with a super low offer with cash and gets his offer into the lender. Usually they will work directly with the listing agent as well. The property will then continued to be on the market as active as well or sometimes they will pull it off and mark it as contingent. This does not happen as much as it used to but it does happen.

*********

Now as far as you submitting offers but they get taken before you have a chance to act, you should be contacting the listing broker to find out some details. What if the other offer is less then yours but it is a all cash deal? I know alot of shenanigans go on but maybe finding out as much factual information about the situation may prove beneficial.

The bottom line is that homes priced aggressively go fast and we are coming into the spring. People are concerned about interest rates moving as they have already gone up about .75 of a point in the last 3 months.

[SD Realtor]

So there are a few things at issue here.

The first thing is that most short sales will require that all parties sign off on the transaction being an arms length transaction. By signing this document all parties are implying that the sale is not being made to family or friends.

People do lie though.

Second off, there is still a fair amount of straddling going on. A straddle is a middle man or investor that will purchase the home for cash and while the short sale is still going, will essentially try to resell the home. So he goes in with a super low offer with cash and gets his offer into the lender. Usually they will work directly with the listing agent as well. The property will then continued to be on the market as active as well or sometimes they will pull it off and mark it as contingent. This does not happen as much as it used to but it does happen.

*********

Now as far as you submitting offers but they get taken before you have a chance to act, you should be contacting the listing broker to find out some details. What if the other offer is less then yours but it is a all cash deal? I know alot of shenanigans go on but maybe finding out as much factual information about the situation may prove beneficial.

The bottom line is that homes priced aggressively go fast and we are coming into the spring. People are concerned about interest rates moving as they have already gone up about .75 of a point in the last 3 months.

[SD Realtor]

So there are a few things at issue here.

The first thing is that most short sales will require that all parties sign off on the transaction being an arms length transaction. By signing this document all parties are implying that the sale is not being made to family or friends.

People do lie though.

Second off, there is still a fair amount of straddling going on. A straddle is a middle man or investor that will purchase the home for cash and while the short sale is still going, will essentially try to resell the home. So he goes in with a super low offer with cash and gets his offer into the lender. Usually they will work directly with the listing agent as well. The property will then continued to be on the market as active as well or sometimes they will pull it off and mark it as contingent. This does not happen as much as it used to but it does happen.

*********

Now as far as you submitting offers but they get taken before you have a chance to act, you should be contacting the listing broker to find out some details. What if the other offer is less then yours but it is a all cash deal? I know alot of shenanigans go on but maybe finding out as much factual information about the situation may prove beneficial.

The bottom line is that homes priced aggressively go fast and we are coming into the spring. People are concerned about interest rates moving as they have already gone up about .75 of a point in the last 3 months.

[SD Realtor]

So there are a few things at issue here.

The first thing is that most short sales will require that all parties sign off on the transaction being an arms length transaction. By signing this document all parties are implying that the sale is not being made to family or friends.

People do lie though.

Second off, there is still a fair amount of straddling going on. A straddle is a middle man or investor that will purchase the home for cash and while the short sale is still going, will essentially try to resell the home. So he goes in with a super low offer with cash and gets his offer into the lender. Usually they will work directly with the listing agent as well. The property will then continued to be on the market as active as well or sometimes they will pull it off and mark it as contingent. This does not happen as much as it used to but it does happen.

*********

Now as far as you submitting offers but they get taken before you have a chance to act, you should be contacting the listing broker to find out some details. What if the other offer is less then yours but it is a all cash deal? I know alot of shenanigans go on but maybe finding out as much factual information about the situation may prove beneficial.

The bottom line is that homes priced aggressively go fast and we are coming into the spring. People are concerned about interest rates moving as they have already gone up about .75 of a point in the last 3 months.

[SD Realtor]

So there are a few things at issue here.

The first thing is that most short sales will require that all parties sign off on the transaction being an arms length transaction. By signing this document all parties are implying that the sale is not being made to family or friends.

People do lie though.

Second off, there is still a fair amount of straddling going on. A straddle is a middle man or investor that will purchase the home for cash and while the short sale is still going, will essentially try to resell the home. So he goes in with a super low offer with cash and gets his offer into the lender. Usually they will work directly with the listing agent as well. The property will then continued to be on the market as active as well or sometimes they will pull it off and mark it as contingent. This does not happen as much as it used to but it does happen.

*********

Now as far as you submitting offers but they get taken before you have a chance to act, you should be contacting the listing broker to find out some details. What if the other offer is less then yours but it is a all cash deal? I know alot of shenanigans go on but maybe finding out as much factual information about the situation may prove beneficial.

The bottom line is that homes priced aggressively go fast and we are coming into the spring. People are concerned about interest rates moving as they have already gone up about .75 of a point in the last 3 months.

[SD Realtor]

Nothing makes them more special effective demand. The truth of the matter is that I don’t really care. The other truth is that for the handyman making 30k a year, that 900 buck job that he may or may not have reported income on is more important to him then to me. The bottom line is that this policy will probably hurt many lower wage earners then the wealthier people that employ them. Again, I don’t really care one way or another, but I know alot of people in those shoes and they are pretty unhappy about it.

[SD Realtor]

Nothing makes them more special effective demand. The truth of the matter is that I don’t really care. The other truth is that for the handyman making 30k a year, that 900 buck job that he may or may not have reported income on is more important to him then to me. The bottom line is that this policy will probably hurt many lower wage earners then the wealthier people that employ them. Again, I don’t really care one way or another, but I know alot of people in those shoes and they are pretty unhappy about it.

[SD Realtor]

Nothing makes them more special effective demand. The truth of the matter is that I don’t really care. The other truth is that for the handyman making 30k a year, that 900 buck job that he may or may not have reported income on is more important to him then to me. The bottom line is that this policy will probably hurt many lower wage earners then the wealthier people that employ them. Again, I don’t really care one way or another, but I know alot of people in those shoes and they are pretty unhappy about it.

[SD Realtor]

Nothing makes them more special effective demand. The truth of the matter is that I don’t really care. The other truth is that for the handyman making 30k a year, that 900 buck job that he may or may not have reported income on is more important to him then to me. The bottom line is that this policy will probably hurt many lower wage earners then the wealthier people that employ them. Again, I don’t really care one way or another, but I know alot of people in those shoes and they are pretty unhappy about it.

[SD Realtor]

Nothing makes them more special effective demand. The truth of the matter is that I don’t really care. The other truth is that for the handyman making 30k a year, that 900 buck job that he may or may not have reported income on is more important to him then to me. The bottom line is that this policy will probably hurt many lower wage earners then the wealthier people that employ them. Again, I don’t really care one way or another, but I know alot of people in those shoes and they are pretty unhappy about it.

[SD Realtor]

I have been kind of swamped lately and am not in a place where I can check on MLS. I forgot but there was something about Isocoma that meritted a lower price but I cannot recall offhand.

Agreed with sdr that PQ is a destination for ALOT of people right now.

[Author]

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