[urbanrealtor]

[quote=sdduuuude]This thread is a waste of disk space.[/quote]

I am a waste of disk space.

I think of myself as the human equivalent of an AOL “coaster”.

[urbanrealtor]

[quote=sdduuuude]This thread is a waste of disk space.[/quote]

I am a waste of disk space.

I think of myself as the human equivalent of an AOL “coaster”.

[urbanrealtor]

[quote=CA renter]Not sure how the FB is the “seller” when it’s the lender that is losing money. IMHO, if it’s determined that there is going to be a short sale (underwater mortgage with inevitable default), then the LA should be representing the lender, not the idiot who owes money to the lender.
[/quote]
That would be illegal.

We have fiduciary duty to the client who is current owner of record.
The lender’s permission is required and they have their own representatives. Their rights are pretty well (if dumbly) represented.

[quote=CA renter]

As a lender, I’d be pi$$ed if I found out that an agent was not sending me ALL the offers (especially the highest price and best terms offers) until it is in escrow. Seriously, there should be some lawsuits there, if that’s happening.

[/quote]
I agree.
If they were actually asking us for other offers, we would (or at least I would) give them.
However, the bank is so swamped that they sometimes explicitly tell us to keep it simple and not to change things.
Typically, though, as with most real estate transactions, the seller (and lender) stays with the tentatively accepted offer. If, prior to transfer of title another offer comes in, it is held as an alternate in case the existing offer dies.
[quote=CA renter]
What they should do is have a period of time when potential buyers can look at and formally inspect the house. After that period, they will accept ALL offers and look at them during a one or two-week period. At that point, they should take the highest price or best terms, whatever the LENDER or lender’s agent decides is best. Basically, an auction, but stretched out over weeks instead of hours.

This would help expedite sales and get honest offers from honest buyers, without any kickbacks or deals between sellers, agents, new buyers, etc.
[/quote]
Again not sure what is dishonest that your version would be fixing.

That being said, an expedited process would be more than welcome. Currently, I can expect a minimum of 4 weeks between signing offers and opening escrow.
The problem with your version, though, is that it assumes that the lender’s are acting as rational entities. Bear in mind they already lent this money stupidly. They are mitigating their loss even more stupidly. Also, most buyers will not wait for weeks for a response.

However, if you would like a contact in the JP Morgan Chase executive offices, I will give you the info for the exec secretary I have been dealing with.

[quote=CA renter]

Too much room for fraud the way it’s set up now, IMO.[/quote]

Right. Lots of fraud.

[urbanrealtor]

[quote=CA renter]Not sure how the FB is the “seller” when it’s the lender that is losing money. IMHO, if it’s determined that there is going to be a short sale (underwater mortgage with inevitable default), then the LA should be representing the lender, not the idiot who owes money to the lender.
[/quote]
That would be illegal.

We have fiduciary duty to the client who is current owner of record.
The lender’s permission is required and they have their own representatives. Their rights are pretty well (if dumbly) represented.

[quote=CA renter]

As a lender, I’d be pi$$ed if I found out that an agent was not sending me ALL the offers (especially the highest price and best terms offers) until it is in escrow. Seriously, there should be some lawsuits there, if that’s happening.

[/quote]
I agree.
If they were actually asking us for other offers, we would (or at least I would) give them.
However, the bank is so swamped that they sometimes explicitly tell us to keep it simple and not to change things.
Typically, though, as with most real estate transactions, the seller (and lender) stays with the tentatively accepted offer. If, prior to transfer of title another offer comes in, it is held as an alternate in case the existing offer dies.
[quote=CA renter]
What they should do is have a period of time when potential buyers can look at and formally inspect the house. After that period, they will accept ALL offers and look at them during a one or two-week period. At that point, they should take the highest price or best terms, whatever the LENDER or lender’s agent decides is best. Basically, an auction, but stretched out over weeks instead of hours.

This would help expedite sales and get honest offers from honest buyers, without any kickbacks or deals between sellers, agents, new buyers, etc.
[/quote]
Again not sure what is dishonest that your version would be fixing.

That being said, an expedited process would be more than welcome. Currently, I can expect a minimum of 4 weeks between signing offers and opening escrow.
The problem with your version, though, is that it assumes that the lender’s are acting as rational entities. Bear in mind they already lent this money stupidly. They are mitigating their loss even more stupidly. Also, most buyers will not wait for weeks for a response.

However, if you would like a contact in the JP Morgan Chase executive offices, I will give you the info for the exec secretary I have been dealing with.

[quote=CA renter]

Too much room for fraud the way it’s set up now, IMO.[/quote]

Right. Lots of fraud.

[urbanrealtor]

[quote=CA renter]Not sure how the FB is the “seller” when it’s the lender that is losing money. IMHO, if it’s determined that there is going to be a short sale (underwater mortgage with inevitable default), then the LA should be representing the lender, not the idiot who owes money to the lender.
[/quote]
That would be illegal.

We have fiduciary duty to the client who is current owner of record.
The lender’s permission is required and they have their own representatives. Their rights are pretty well (if dumbly) represented.

[quote=CA renter]

As a lender, I’d be pi$$ed if I found out that an agent was not sending me ALL the offers (especially the highest price and best terms offers) until it is in escrow. Seriously, there should be some lawsuits there, if that’s happening.

[/quote]
I agree.
If they were actually asking us for other offers, we would (or at least I would) give them.
However, the bank is so swamped that they sometimes explicitly tell us to keep it simple and not to change things.
Typically, though, as with most real estate transactions, the seller (and lender) stays with the tentatively accepted offer. If, prior to transfer of title another offer comes in, it is held as an alternate in case the existing offer dies.
[quote=CA renter]
What they should do is have a period of time when potential buyers can look at and formally inspect the house. After that period, they will accept ALL offers and look at them during a one or two-week period. At that point, they should take the highest price or best terms, whatever the LENDER or lender’s agent decides is best. Basically, an auction, but stretched out over weeks instead of hours.

This would help expedite sales and get honest offers from honest buyers, without any kickbacks or deals between sellers, agents, new buyers, etc.
[/quote]
Again not sure what is dishonest that your version would be fixing.

That being said, an expedited process would be more than welcome. Currently, I can expect a minimum of 4 weeks between signing offers and opening escrow.
The problem with your version, though, is that it assumes that the lender’s are acting as rational entities. Bear in mind they already lent this money stupidly. They are mitigating their loss even more stupidly. Also, most buyers will not wait for weeks for a response.

However, if you would like a contact in the JP Morgan Chase executive offices, I will give you the info for the exec secretary I have been dealing with.

[quote=CA renter]

Too much room for fraud the way it’s set up now, IMO.[/quote]

Right. Lots of fraud.

[urbanrealtor]

[quote=CA renter]Not sure how the FB is the “seller” when it’s the lender that is losing money. IMHO, if it’s determined that there is going to be a short sale (underwater mortgage with inevitable default), then the LA should be representing the lender, not the idiot who owes money to the lender.
[/quote]
That would be illegal.

We have fiduciary duty to the client who is current owner of record.
The lender’s permission is required and they have their own representatives. Their rights are pretty well (if dumbly) represented.

[quote=CA renter]

As a lender, I’d be pi$$ed if I found out that an agent was not sending me ALL the offers (especially the highest price and best terms offers) until it is in escrow. Seriously, there should be some lawsuits there, if that’s happening.

[/quote]
I agree.
If they were actually asking us for other offers, we would (or at least I would) give them.
However, the bank is so swamped that they sometimes explicitly tell us to keep it simple and not to change things.
Typically, though, as with most real estate transactions, the seller (and lender) stays with the tentatively accepted offer. If, prior to transfer of title another offer comes in, it is held as an alternate in case the existing offer dies.
[quote=CA renter]
What they should do is have a period of time when potential buyers can look at and formally inspect the house. After that period, they will accept ALL offers and look at them during a one or two-week period. At that point, they should take the highest price or best terms, whatever the LENDER or lender’s agent decides is best. Basically, an auction, but stretched out over weeks instead of hours.

This would help expedite sales and get honest offers from honest buyers, without any kickbacks or deals between sellers, agents, new buyers, etc.
[/quote]
Again not sure what is dishonest that your version would be fixing.

That being said, an expedited process would be more than welcome. Currently, I can expect a minimum of 4 weeks between signing offers and opening escrow.
The problem with your version, though, is that it assumes that the lender’s are acting as rational entities. Bear in mind they already lent this money stupidly. They are mitigating their loss even more stupidly. Also, most buyers will not wait for weeks for a response.

However, if you would like a contact in the JP Morgan Chase executive offices, I will give you the info for the exec secretary I have been dealing with.

[quote=CA renter]

Too much room for fraud the way it’s set up now, IMO.[/quote]

Right. Lots of fraud.

[urbanrealtor]

[quote=CA renter]Not sure how the FB is the “seller” when it’s the lender that is losing money. IMHO, if it’s determined that there is going to be a short sale (underwater mortgage with inevitable default), then the LA should be representing the lender, not the idiot who owes money to the lender.
[/quote]
That would be illegal.

We have fiduciary duty to the client who is current owner of record.
The lender’s permission is required and they have their own representatives. Their rights are pretty well (if dumbly) represented.

[quote=CA renter]

As a lender, I’d be pi$$ed if I found out that an agent was not sending me ALL the offers (especially the highest price and best terms offers) until it is in escrow. Seriously, there should be some lawsuits there, if that’s happening.

[/quote]
I agree.
If they were actually asking us for other offers, we would (or at least I would) give them.
However, the bank is so swamped that they sometimes explicitly tell us to keep it simple and not to change things.
Typically, though, as with most real estate transactions, the seller (and lender) stays with the tentatively accepted offer. If, prior to transfer of title another offer comes in, it is held as an alternate in case the existing offer dies.
[quote=CA renter]
What they should do is have a period of time when potential buyers can look at and formally inspect the house. After that period, they will accept ALL offers and look at them during a one or two-week period. At that point, they should take the highest price or best terms, whatever the LENDER or lender’s agent decides is best. Basically, an auction, but stretched out over weeks instead of hours.

This would help expedite sales and get honest offers from honest buyers, without any kickbacks or deals between sellers, agents, new buyers, etc.
[/quote]
Again not sure what is dishonest that your version would be fixing.

That being said, an expedited process would be more than welcome. Currently, I can expect a minimum of 4 weeks between signing offers and opening escrow.
The problem with your version, though, is that it assumes that the lender’s are acting as rational entities. Bear in mind they already lent this money stupidly. They are mitigating their loss even more stupidly. Also, most buyers will not wait for weeks for a response.

However, if you would like a contact in the JP Morgan Chase executive offices, I will give you the info for the exec secretary I have been dealing with.

[quote=CA renter]

Too much room for fraud the way it’s set up now, IMO.[/quote]

Right. Lots of fraud.

[urbanrealtor]

Yes those poor savages north of adams.

I am surprised Mark has not taken his own life.

I live there too and that zip has some of the highest ppsf and lowest % of defaults of any urban zip code. There are currently lees than 90 default and lis pendens actions in the dump.

[urbanrealtor]

Yes those poor savages north of adams.

I am surprised Mark has not taken his own life.

I live there too and that zip has some of the highest ppsf and lowest % of defaults of any urban zip code. There are currently lees than 90 default and lis pendens actions in the dump.

[urbanrealtor]

Yes those poor savages north of adams.

I am surprised Mark has not taken his own life.

I live there too and that zip has some of the highest ppsf and lowest % of defaults of any urban zip code. There are currently lees than 90 default and lis pendens actions in the dump.

[urbanrealtor]

Yes those poor savages north of adams.

I am surprised Mark has not taken his own life.

I live there too and that zip has some of the highest ppsf and lowest % of defaults of any urban zip code. There are currently lees than 90 default and lis pendens actions in the dump.

[urbanrealtor]

Yes those poor savages north of adams.

I am surprised Mark has not taken his own life.

I live there too and that zip has some of the highest ppsf and lowest % of defaults of any urban zip code. There are currently lees than 90 default and lis pendens actions in the dump.

[urbanrealtor]

I personally am convinced that SD, in collusion with the UN, was the builder, buyer, foreclosing owner, trustee, and locksmith of said house.

Further, I saw him doing all of these things while following him using my weather satellite.

Also, I am fairly sure he is from Arizona.

Clearly he is evil.

Look, unless you have actual evidence of fraud or malfeasance, asserting bad acts is stupid and irresponsible.

Lots of people with almost no actual info keep asserting fraud or cheating where none is evident.

This reminds me of waiting tables during college when some folks would claim discrimination for service they considered unacceptable. The more simple explanation (that the waiter was slow or the kitchen was slow) was not considered.

[urbanrealtor]

I personally am convinced that SD, in collusion with the UN, was the builder, buyer, foreclosing owner, trustee, and locksmith of said house.

Further, I saw him doing all of these things while following him using my weather satellite.

Also, I am fairly sure he is from Arizona.

Clearly he is evil.

Look, unless you have actual evidence of fraud or malfeasance, asserting bad acts is stupid and irresponsible.

Lots of people with almost no actual info keep asserting fraud or cheating where none is evident.

This reminds me of waiting tables during college when some folks would claim discrimination for service they considered unacceptable. The more simple explanation (that the waiter was slow or the kitchen was slow) was not considered.

[urbanrealtor]

I personally am convinced that SD, in collusion with the UN, was the builder, buyer, foreclosing owner, trustee, and locksmith of said house.

Further, I saw him doing all of these things while following him using my weather satellite.

Also, I am fairly sure he is from Arizona.

Clearly he is evil.

Look, unless you have actual evidence of fraud or malfeasance, asserting bad acts is stupid and irresponsible.

Lots of people with almost no actual info keep asserting fraud or cheating where none is evident.

This reminds me of waiting tables during college when some folks would claim discrimination for service they considered unacceptable. The more simple explanation (that the waiter was slow or the kitchen was slow) was not considered.

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