[urbanrealtor]

[quote=Oxford][quote=captcha]Can she donate the land to fire department?[/quote]
That is probably a good idea. I assume there would be a tax write-off in there. But wonder what the title transfer and legal fees etc are. The whole deal is a money pit albeit a small one at the moment. She just wants it to go away with any connection to her flake x-boyfriend.[/quote]

Just a quick fyi.
It is kind of tough to donate or sell a JT share.
You can donate (or sell) a TIC easily.
It would probably make sense for them to deed it from themselves as JT to themselves as TICs.

If they do that, then it might make sense for them to ask the HOA if they want it.

if the value is $2000 and that equals 3.5 months of HOA dues, you have a problem.

For example:
If the HOA waits a year to foreclose, then the owners are on the hook for all debt in excess of what they recovered. So in this case, they would recover 3.5 months of dues and the (former) owners would still owe for 8.5 months of dues.

I would negotiate directly with the HOA and ask them to take it for nominal compensation asap.

(like 1$ and call it even).

Also: what in the hell is the HOA doing that commands that level of fees for vacant land?

I mean thats crazy.

[urbanrealtor]

You suggested your skill in 4 counties.
I didn’t imagine it.
Its in the post.

I don’t think your posts were either incoherent or disjointed.
I found them uncharacteristically vitriolic and petty.
Your telling me that you posted that while totally sober?
Seriously?

Re the sale in question.
Asking price is meaningless.
Lots of dumb agents start with a high price and change it dramatically.

I would never put a price super high that I did not think I could get.

I don’t know enough about that area or the property to make that assessment.

I am not saying its not irresponsible behavior but I don’t know where the disconnect lies.

Is it an issue of a dumb agent?
Is it fraud?
Is there a side deal with the short sale lender that is not showing up in the public site?
I don’t know anything about that.

I would be curious to see what an appraisal pre flip shows.

Dave, you can say rude things to me about not being perceptive but I won’t pretend I see something that I don’t.

I see the following things:
A property openly offered as a short sale fixer.
A sale well below asking.
A flip after several months.

I see stuff like that a lot around town.
Sometimes there is cause for believing its fraud.
However just those facts by themselves don’t convince me.

And I am not someone known to be terribly charitable to other agents.

[urbanrealtor]

[quote=Allan from Fallbrook][quote=urbanrealtor][quote=walterwhite]people in power tend to be assholes.[/quote]

You had me at “dicks fuck assholes”.[/quote]

Dan: Awesome. How you managed to work in a “Team America: World Peace” reference is nothing short of amazing.[/quote]

Team America World Peace??!?!?!?!?!?

Dude.

[urbanrealtor]

[quote=SK in CV]
Pretty much impossible to prove a negative. But the way you worded it, it’s easy. We have taxes, we have production, therefore taxes have not taken productivity out of the system. (you really need to learn to word your questions more carefully.)

Find a definition from any source online that says: Taxes: removes productivity out of the system.

Medicare is more efficient than private insurance. Their administrative costs, on a per patient basis, are a tiny fraction of private insurance.

And stop with the stupid straw man arguments. asking for examples of where the government does things more efficiently than the private sector has absolutely nothing to do with anything that I have said. Zero. Leaping from topic to topic, most of which I probably agree with you, does not prove your point. I don’t know what your point is. You just screw up facts. Make outlandish assertions which are easily disproved and then explain them away by changing the subject. Stick to one. Deal with it. If you’re wrong (which you have been over and over again), acknowledge it and move on. Otherwise, you’re just digging yourself a deeper hole.[/quote]

I am calling it out:
The word for this type of blind adherence is best termed:

Pauline Jihadist.

Flame on mo-fos

[urbanrealtor]

[quote=eavesdropper][quote=Allan from Fallbrook]….Although… The presence of Gloria Allred makes me a bit itchy. That succubus hasn’t met a camera she doesn’t like and her relationship with facts and the truth is notoriously elastic.[/quote]

Which begs the question……why doesn’t she run for the House or the Senate?[/quote]

Ironically, that makes her somewhat more honest (by not running).

[urbanrealtor]

[quote=urbanrealtor]Yes it was tongue in cheek (or in santorum) and no I really don’t think that its okay to commit sexual battery.[/quote]
BUUUUUTTT:
(and this is the part where everybody rolls their eyes in disgust and annoyance)

There are 2 types of people who are considered lecherous.

1: Horndogs who get play.
2: Creepy weirdos.

And yes there is a spectrum between.
My point is that its really much more sad to be the second. Cain really has the vibe of the second.
I don’t know that and don’t have any inside evidence (other than the news) but that is my gut.
That bums me out.
He was a republican that I actually liked.
Kind of like Romney before he clearly decided to play musical positions.

[urbanrealtor]

Yes it was tongue in cheek (or in santorum) and no I really don’t think that its okay to commit sexual battery.

[urbanrealtor]

[quote=SDisGreat]I am having financial difficulties and was wondering if I can take my name off title and put my son on title….

I still have a loan in my name w/ BofA previously countrywide.

Please advise?????????????????????[/quote]

In answer to the original question:
You can quitclaim the title.
However, that is almost certainly a violation of the terms of your mortgage.
More importantly, it will not remove you from the loan.
Just from the title.
When you borrowed, you made a contract with the bank.
That contract does not change unless they (and you) say it does.
And they won’t.

The only way out of that contract:
-pay off the debt
(which is actually fulfilling the contract)
-foreclose
(which is also actually fulfilling a different part of the contract)
-short sale
(which is the bank allowing you out for partial payment)
-loan mod
(which is them allowing some changes to the terms of the contract)
-bankruptcy
(which is the government allowing you out of a contract)

A common time I see this is when I handle short sales for people who have divorced.

They usually come back to me and say “but Harry is in charge of the Clairemont mortgage”.

Then I say: “That is between you and him and the judge. The bank still has a contract with you.”

Remember:
Its historically not a bad bet to get a mortgage. BUT: its freaking contract for 30 years so don’t take it lightly.

[urbanrealtor]

sdr:
Are you selling weed?
Is that what this is about?

As far as the short sale, I do not know jack shit about the area and I don’t feel comfortable making broad assumptions like that.

I don’t say there wasn’t fraud but I don’t see it just based on those numbers.
I DO see enough to make me ask questions.

If your assertion is that you are an agent knowledgeable in 4 counties, then I am afraid that is the point of departure in the credibility department.

Speaking for myself, I know SD county well, the Temecula area passably (not the rest of Riverside county), and I know my hometown somewhat (but not the rest of Sonoma county).

Thats pretty much it.

And I am a pretty avid comp reader and I make 100% of my income from this.

I am not calling you a liar but I do not believe you are that guy or that you are that capable (or that anyone is).

And last night you were typing like you were drunk.

The childish back and forth between the two of you (sdr and bg) undermines your reputation on a board where your posts are, for the most part, positive and thoughtful contributions.

Honestly, sdr, I am disappointed in seeing this from you.

[urbanrealtor]

[quote=walterwhite]people in power tend to be assholes.[/quote]

You had me at “dicks fuck assholes”.

[urbanrealtor]

If he settled a harassment complaint (or 2) for about 100k and did not actually get some ass in the process, then I am calling him out as a straight up punk.

So that leaves this:
Either he
A: settled complaints for 100k for being a lech
or
B: settled for 100k for doing nothing and not getting any.

Not really a good option either way there.

[urbanrealtor]

[quote=joewhite]Was not a rental, and actually owned by a real estate agent (maybe broker?). From private conversations with well-versed agent, they know this was a bogus transaction. Unlike a place a few doors down which has been completely gutted, this place was not completely rebuilt. I would be shocked if more than 100K was put into it.[/quote]

So back in the world of adult conversations:

So Joe,
You knew this was a fake deal and were just having a piss?
You do realize agents have these childish (see above thread) and sensationalized discussions all the time.
We do boring things for a living and sometimes try to make it more interesting by saying we know something we don’t.
Its not a big secret.

So in the bogus (I don’t yet know if that term applies) transaction, who benefited?

Who was getting a piece at whose expense?

Was the the listing or selling or flipper agent kicking a referral to the original seller?

Please explain.

[urbanrealtor]

Sweet Jesus dude.
Give it a rest.

As a member of an Irish-Jewish-Mexican-Polish family, listening to you is like the worst of all my family’s ethnic guilt trips combined.

Stop with this shit or I will call your cell phone repeatedly and hang up.

And remember, there is nothing more useless than a Realtor who can’t answer his phone (or doesn’t know if he should because a rogue broker from Hillcrest is just irritated and being a dick in response).

EDIT:
That was directed at sdr but I am thinking maybe it should be directed at both of you.
You realize you now make Adam look like a mature agent right?
Yep, its actually come to that.

[urbanrealtor]

[quote=ucodegen]
The possible fraud was in mis-representing the value and sale in the short sale. If the short sale went for $1mil, but the actual sale price it would have commanded if the sale was ‘open market’ was $2mil, it is a fraudulent short sale.

It would almost be like your broker representing your house on a sale conspiring with another ‘investor/broker’ and stating “I know this guy(you in this case) really doesn’t know what this house is worth so I will tell him it is worth half what we know we can get for it and I’ll get him to sell it to you. We then hold on to the house for a short period of time and then sell it for the real price and split up the difference between us. Your broker (the sellers broker) is supposed to be representing you, the seller, in this transaction.

The fact that it listed exactly 1 day past the ‘watch period’ makes the short sale possibly questionable.

Here is the ‘flip’:
http://www.redfin.com/CA/Malibu/18434-Coastline-Dr-90265/home/6850638

Hard to tell how much was just cleaning up and staging. The initial sale didn’t seem that serious. Only 4 photogs on the listing and no attempt at ‘cleanup’. The flip has 29 photogs. Looks like mostly ‘cleanup’ and ‘declutter’, but it is hard to tell because of the lack of photogs on the first listing. The difference might be worth a few 100K, but not 1.5mil.[/quote]

I see that the price shot up but if the info in the first listing (pre-flip short sale fixer) is accurate, then this would not necessarily tickle my radar.

Those aspects often drive market value down dramatically in areas where the location value is high.

Here is an example:
3675 Villa Terrace is in the middle of Morley Field. It is 2/1.5 and comps around 550k-625k (in summer, probably 5% lower in winter).
This unit is currently on the market for $300k.
Why?
Because the former owner was an autistic shut in who live there for several years without utilities and used the yard and bathtub as a toilet. At some point, months or years ago, he died. Nobody knew about it for some time (unclear how long).
There are Medical Examiner and Biohazard tags on the front and the back door. The landscaping looks like something out of Little Shop of Horrors.
The cleaning job needed will be epic.
But seriously, spend 5k on cleaning, cutting, and painting and you will increase the market value more than $100k.

Lets take another example:
In 2009 4227 Alder in Kensington sold for $389k as a short sale.
Current comps show this as worth $600k-$700k in good shape.
Why?
The angry homeowners had pulled every plumbing fixture and cabinet out.
So probably a cash buyer came along and spent an additional $20k replacing toilets, sinks and cabinets and ended up with a free and clear house in one of the most desirable neighborhoods in SD.

I don’t think either of these involves fraud.
As far as the Malibu house in question, I would need more information before making that assessment.

The red flags for me:

-Agents double ending on the short sale
-Same agent used on the flip
-Seller connections to buyer
-Personal property sales contemporaneous with real estate sale.

My two bits

[urbanrealtor]

I get that its a flip.
I don’t mean to be dumb but, in all seriousness, how is this fraudulent?

What misrepresentation appears to have taken place?

That is a serious question.

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