[urbanrealtor]

[quote=Butleroftwo]gandalf is this blogs Obama franchisee. Be careful with gandalf, he(?) pretends to be like everyone else until one of his core issues is discussed. He has tried to establish his character here by letting us know that he is Tall, rides a motorcycle, owns a business, is Columbia educated and is independent.
His only goal is to push Obama’s agenda of higher taxes, government control (left of center or way left of center only), strange foreign policy, elitism and whatever this mysterious president has on his list. I would guess that he walked away from a party meeting sometime in 2005 with a list of blogs that he needed to infiltrate. Since then we have been graced with his “Social Marketing” techniques from some unpublished manual.[/quote]

I dunno.
I come from a family of Realtors and entrepreneurs.
We are all pretty left of center.
Most members of my (exceptionally large, Catholic) family are self-employed.
While I cannot speak for all of my family’s views, I know my grandmother launched into a lecture on gay rights after too much wine at my wedding.
We don’t subscribe to some manual or some checklist of “progressive” ideas.
I would attribute this to their/my strong Catholic* upbringing which had a lot to say about hard work, charity, and giving more when you have it.
(And lets be honest, the Catholic denial of gay rights is really just about self-hatred.)
The fact that you attribute people who have different opinions than you to brainwashing or checking the box from some manual really says more about your views.
And in case you are wondering if I am real, many Piggs have met me and several have closed escrow with me as an agent.
You can meet me too if you’re not afraid of the scary homos in my neighborhood.

*this is probably why most of my extended family are pure suckers for Stephen Colbert (a serious liberal and a devout Catholic Sunday school teacher)

[urbanrealtor]

[quote=Butleroftwo]gandalf is this blogs Obama franchisee. Be careful with gandalf, he(?) pretends to be like everyone else until one of his core issues is discussed. He has tried to establish his character here by letting us know that he is Tall, rides a motorcycle, owns a business, is Columbia educated and is independent.
His only goal is to push Obama’s agenda of higher taxes, government control (left of center or way left of center only), strange foreign policy, elitism and whatever this mysterious president has on his list. I would guess that he walked away from a party meeting sometime in 2005 with a list of blogs that he needed to infiltrate. Since then we have been graced with his “Social Marketing” techniques from some unpublished manual.[/quote]

I dunno.
I come from a family of Realtors and entrepreneurs.
We are all pretty left of center.
Most members of my (exceptionally large, Catholic) family are self-employed.
While I cannot speak for all of my family’s views, I know my grandmother launched into a lecture on gay rights after too much wine at my wedding.
We don’t subscribe to some manual or some checklist of “progressive” ideas.
I would attribute this to their/my strong Catholic* upbringing which had a lot to say about hard work, charity, and giving more when you have it.
(And lets be honest, the Catholic denial of gay rights is really just about self-hatred.)
The fact that you attribute people who have different opinions than you to brainwashing or checking the box from some manual really says more about your views.
And in case you are wondering if I am real, many Piggs have met me and several have closed escrow with me as an agent.
You can meet me too if you’re not afraid of the scary homos in my neighborhood.

*this is probably why most of my extended family are pure suckers for Stephen Colbert (a serious liberal and a devout Catholic Sunday school teacher)

[urbanrealtor]

[quote=captcha][quote=urbanrealtor]
Also, bear in mind that if she gets foreclosed on while you live there, then worst case, you get 90 days free rent.
[/quote]

I believe it is the greater of 90 days or the end of the current lease, unless the property is sold to a buyer who intends to use it as primary residence, in which case it’s 90 days (no ‘end of the lease’ option). It theory it is not free – the new owner has the right to collect the rent and obligation to maintain the property.[/quote]

While there are specific exceptions for the rare owner-occupier-buyer-at-trustee-auction, generally it goes as follows:

-90 Days
90 days notice to quit for tenants who have no rental agreement with the landlord. Changing landlords voids the original rental contract (barring some assignee and quitclaim arrangement in a trust deed). Not having a current contract means that there is no provision for compensation (hence the “free-rent”). It isn’t literally free rent but just a long notice to quit with no compensation arrangement (but it works out the same).

Or

-Remainder of lease.
This functions as an effective novation of the now defunct rental agreement under substantially similar terms and a new landlord. This, in theory, would require compensation on the old terms until the end of the rental contract. I say “in theory” because I have never seen a tenant take this when the landlord is dangling several months of free rent and/or cash in front of them.

The owner occupying bidder is an incredible rare animal. I have not heard of one locally though I imagine they could exist.

In reality, most banks who are not tight for money will just offer you 3-4 months rent cost in cash and simultaneously give you a 90-day notice to quit.

[urbanrealtor]

[quote=captcha][quote=urbanrealtor]
Also, bear in mind that if she gets foreclosed on while you live there, then worst case, you get 90 days free rent.
[/quote]

I believe it is the greater of 90 days or the end of the current lease, unless the property is sold to a buyer who intends to use it as primary residence, in which case it’s 90 days (no ‘end of the lease’ option). It theory it is not free – the new owner has the right to collect the rent and obligation to maintain the property.[/quote]

While there are specific exceptions for the rare owner-occupier-buyer-at-trustee-auction, generally it goes as follows:

-90 Days
90 days notice to quit for tenants who have no rental agreement with the landlord. Changing landlords voids the original rental contract (barring some assignee and quitclaim arrangement in a trust deed). Not having a current contract means that there is no provision for compensation (hence the “free-rent”). It isn’t literally free rent but just a long notice to quit with no compensation arrangement (but it works out the same).

Or

-Remainder of lease.
This functions as an effective novation of the now defunct rental agreement under substantially similar terms and a new landlord. This, in theory, would require compensation on the old terms until the end of the rental contract. I say “in theory” because I have never seen a tenant take this when the landlord is dangling several months of free rent and/or cash in front of them.

The owner occupying bidder is an incredible rare animal. I have not heard of one locally though I imagine they could exist.

In reality, most banks who are not tight for money will just offer you 3-4 months rent cost in cash and simultaneously give you a 90-day notice to quit.

[urbanrealtor]

[quote=captcha][quote=urbanrealtor]
Also, bear in mind that if she gets foreclosed on while you live there, then worst case, you get 90 days free rent.
[/quote]

I believe it is the greater of 90 days or the end of the current lease, unless the property is sold to a buyer who intends to use it as primary residence, in which case it’s 90 days (no ‘end of the lease’ option). It theory it is not free – the new owner has the right to collect the rent and obligation to maintain the property.[/quote]

While there are specific exceptions for the rare owner-occupier-buyer-at-trustee-auction, generally it goes as follows:

-90 Days
90 days notice to quit for tenants who have no rental agreement with the landlord. Changing landlords voids the original rental contract (barring some assignee and quitclaim arrangement in a trust deed). Not having a current contract means that there is no provision for compensation (hence the “free-rent”). It isn’t literally free rent but just a long notice to quit with no compensation arrangement (but it works out the same).

Or

-Remainder of lease.
This functions as an effective novation of the now defunct rental agreement under substantially similar terms and a new landlord. This, in theory, would require compensation on the old terms until the end of the rental contract. I say “in theory” because I have never seen a tenant take this when the landlord is dangling several months of free rent and/or cash in front of them.

The owner occupying bidder is an incredible rare animal. I have not heard of one locally though I imagine they could exist.

In reality, most banks who are not tight for money will just offer you 3-4 months rent cost in cash and simultaneously give you a 90-day notice to quit.

[urbanrealtor]

[quote=captcha][quote=urbanrealtor]
Also, bear in mind that if she gets foreclosed on while you live there, then worst case, you get 90 days free rent.
[/quote]

I believe it is the greater of 90 days or the end of the current lease, unless the property is sold to a buyer who intends to use it as primary residence, in which case it’s 90 days (no ‘end of the lease’ option). It theory it is not free – the new owner has the right to collect the rent and obligation to maintain the property.[/quote]

While there are specific exceptions for the rare owner-occupier-buyer-at-trustee-auction, generally it goes as follows:

-90 Days
90 days notice to quit for tenants who have no rental agreement with the landlord. Changing landlords voids the original rental contract (barring some assignee and quitclaim arrangement in a trust deed). Not having a current contract means that there is no provision for compensation (hence the “free-rent”). It isn’t literally free rent but just a long notice to quit with no compensation arrangement (but it works out the same).

Or

-Remainder of lease.
This functions as an effective novation of the now defunct rental agreement under substantially similar terms and a new landlord. This, in theory, would require compensation on the old terms until the end of the rental contract. I say “in theory” because I have never seen a tenant take this when the landlord is dangling several months of free rent and/or cash in front of them.

The owner occupying bidder is an incredible rare animal. I have not heard of one locally though I imagine they could exist.

In reality, most banks who are not tight for money will just offer you 3-4 months rent cost in cash and simultaneously give you a 90-day notice to quit.

[urbanrealtor]

[quote=captcha][quote=urbanrealtor]
Also, bear in mind that if she gets foreclosed on while you live there, then worst case, you get 90 days free rent.
[/quote]

I believe it is the greater of 90 days or the end of the current lease, unless the property is sold to a buyer who intends to use it as primary residence, in which case it’s 90 days (no ‘end of the lease’ option). It theory it is not free – the new owner has the right to collect the rent and obligation to maintain the property.[/quote]

While there are specific exceptions for the rare owner-occupier-buyer-at-trustee-auction, generally it goes as follows:

-90 Days
90 days notice to quit for tenants who have no rental agreement with the landlord. Changing landlords voids the original rental contract (barring some assignee and quitclaim arrangement in a trust deed). Not having a current contract means that there is no provision for compensation (hence the “free-rent”). It isn’t literally free rent but just a long notice to quit with no compensation arrangement (but it works out the same).

Or

-Remainder of lease.
This functions as an effective novation of the now defunct rental agreement under substantially similar terms and a new landlord. This, in theory, would require compensation on the old terms until the end of the rental contract. I say “in theory” because I have never seen a tenant take this when the landlord is dangling several months of free rent and/or cash in front of them.

The owner occupying bidder is an incredible rare animal. I have not heard of one locally though I imagine they could exist.

In reality, most banks who are not tight for money will just offer you 3-4 months rent cost in cash and simultaneously give you a 90-day notice to quit.

[urbanrealtor]

[quote=Doooh]We just bought and am having a hard time seeing why realtors make $15k each side per deal.

Call me and I’d be happy to give you the ins and outs of Ramona and a realtor lead. Pm sent.[/quote]

If it looked like the agent didn’t do much and everything went well then that is generally the mark of a good agent.
If it looks like the agent didn’t do much and the deal was a horrible headache then that is generally the mark of a crappy agent.
Not every time, but most times, it is a lot more complicated than it looks.

[urbanrealtor]

[quote=Doooh]We just bought and am having a hard time seeing why realtors make $15k each side per deal.

Call me and I’d be happy to give you the ins and outs of Ramona and a realtor lead. Pm sent.[/quote]

If it looked like the agent didn’t do much and everything went well then that is generally the mark of a good agent.
If it looks like the agent didn’t do much and the deal was a horrible headache then that is generally the mark of a crappy agent.
Not every time, but most times, it is a lot more complicated than it looks.

[urbanrealtor]

[quote=Doooh]We just bought and am having a hard time seeing why realtors make $15k each side per deal.

Call me and I’d be happy to give you the ins and outs of Ramona and a realtor lead. Pm sent.[/quote]

If it looked like the agent didn’t do much and everything went well then that is generally the mark of a good agent.
If it looks like the agent didn’t do much and the deal was a horrible headache then that is generally the mark of a crappy agent.
Not every time, but most times, it is a lot more complicated than it looks.

[urbanrealtor]

[quote=Doooh]We just bought and am having a hard time seeing why realtors make $15k each side per deal.

Call me and I’d be happy to give you the ins and outs of Ramona and a realtor lead. Pm sent.[/quote]

If it looked like the agent didn’t do much and everything went well then that is generally the mark of a good agent.
If it looks like the agent didn’t do much and the deal was a horrible headache then that is generally the mark of a crappy agent.
Not every time, but most times, it is a lot more complicated than it looks.

[urbanrealtor]

[quote=Doooh]We just bought and am having a hard time seeing why realtors make $15k each side per deal.

Call me and I’d be happy to give you the ins and outs of Ramona and a realtor lead. Pm sent.[/quote]

If it looked like the agent didn’t do much and everything went well then that is generally the mark of a good agent.
If it looks like the agent didn’t do much and the deal was a horrible headache then that is generally the mark of a crappy agent.
Not every time, but most times, it is a lot more complicated than it looks.

[urbanrealtor]

[quote=sdrenternts]In May 2009, I signed a 2 year lease and the realtor/leasing agent did not disclose that the landlord was in default even though I asked.
[/quote]
This was probably true at the time (based upon the rest of your post).
[quote=sdrenternts]
In July 2010, there was a notice of trustee sale on the door. Right about the same time, my landlord tried to evict me and my kids. She accused us of changing locks, having a pet in the house, etc.
[/quote]
Unless it was a multiyear lease, why not just terminate the tenancy without the bullshit?
Probably there was some other factor (like her financial distress at play) and she was either venting or thought getting you out would benefit her in some way.
Either way it sounds pretty classless.

[quote=sdrenternts]
Then she changed tactic and told me that she was “refinancing” and if anyone asks, I am her sister (despite the fact that she’s Persian and I am Asian). However, no one came by (as far as I know). It appeared that she managed to “refinance”. [/quote]
Probably she had always claimed the house as a primary and the “refi” was really a loan mod.
It is common in these mods to stop paying the mortgage and sometimes, it comes up for NOT again.

If you are willing to lie for her (and I am not saying you should), then at least ask for a rent discount for doing so.
You deserve some compensation for this bs.

[quote=sdrenternts] Then, I found out that the condo is again scheduled for a court house sale in February 2011 – but the sale date kept getting changed. The owed amount went from $595,000 to $625,000 in the 7 month period.
[/quote]
That is probably the amount growing as she misses payments.
It is probably not an actual larger refi.
In 2009, there were not a lot of places doing that.
[quote=sdrenternts]

It looks like she has been collecting rent from me but have not been making her mortgage payments.

[/quote]

That is common and legal (though sketchy).
A landlord does not have be current with mortgage to ask for rent (or to evict you for non-payment).
[quote=sdrenternts]
Today, the house was listed for sale. The sale comps are $550,000 but the condo is llsted for $670,000. There is no for sale sign on my condo.

I would just like to understand what’s going on. She has been dishonest since day 1.[/quote]
Yup
[quote=sdrenternts] If she was really just “refinancing” why would she want me to lie for her?
[/quote]see above
[quote=sdrenternts] Whether she’s going through a short sale or not, why would she price the listing so high? [/quote]Wishful thinking
OR
She is going for a HAFA short sale which tends to be higher priced but offers money to a seller for moving expenses.
[quote=sdrenternts] Are there HAMP programs for investors?
[/quote]
Negative ghostrider.
Almost every government program is contingent on residence.
[quote=sdrenternts]If the listing agent knows that the property does not qualify for a short sale, is there an obligation to inform the bank?
[/quote]
There is no indication based on what you have said that it does not qualify.
They may lower the price or your knowledge of comps may be wrong or they may accept a much lower offer.
That is not really material.
[quote=sdrenternts]
Do leasings agents have a duty to disclose distressed property — especially when specifically asked?
[/quote]
Yes but it is public record when the default was filed. If the Notice of Trustee Sale started in July 2010 then it is unlikely that the Notice of Default existed in Feb 2009.
But yes, it is possible that he could have been lying.
[quote=sdrenternts]
Lastly, if something fishy is going on, is this worth reporting (i.e. will anyone care?).
[/quote]
Probably not.
However you can use this to your advantage.
You should insist upon an electronic lock box and 24 hours notice and that it only be shown M-F 9-5
Then you should ask for a discount in rent for:
-keeping the place in showing condition
-showing it outside of normal business hours (9am-5pm)
-showing it on the weekends
-Open houses
and remind her about the lying request.

Also, bear in mind that if she gets foreclosed on while you live there, then worst case, you get 90 days free rent.

So, in many ways, it is not a bad thing if that happens.

Also, you should insist upon getting your deposit back or that it be held in someone’s trust account.

[quote=sdrenternts]
I’d really appreciate any insight or advice anyone has to offer. Thanks.[/quote]

[urbanrealtor]

[quote=sdrenternts]In May 2009, I signed a 2 year lease and the realtor/leasing agent did not disclose that the landlord was in default even though I asked.
[/quote]
This was probably true at the time (based upon the rest of your post).
[quote=sdrenternts]
In July 2010, there was a notice of trustee sale on the door. Right about the same time, my landlord tried to evict me and my kids. She accused us of changing locks, having a pet in the house, etc.
[/quote]
Unless it was a multiyear lease, why not just terminate the tenancy without the bullshit?
Probably there was some other factor (like her financial distress at play) and she was either venting or thought getting you out would benefit her in some way.
Either way it sounds pretty classless.

[quote=sdrenternts]
Then she changed tactic and told me that she was “refinancing” and if anyone asks, I am her sister (despite the fact that she’s Persian and I am Asian). However, no one came by (as far as I know). It appeared that she managed to “refinance”. [/quote]
Probably she had always claimed the house as a primary and the “refi” was really a loan mod.
It is common in these mods to stop paying the mortgage and sometimes, it comes up for NOT again.

If you are willing to lie for her (and I am not saying you should), then at least ask for a rent discount for doing so.
You deserve some compensation for this bs.

[quote=sdrenternts] Then, I found out that the condo is again scheduled for a court house sale in February 2011 – but the sale date kept getting changed. The owed amount went from $595,000 to $625,000 in the 7 month period.
[/quote]
That is probably the amount growing as she misses payments.
It is probably not an actual larger refi.
In 2009, there were not a lot of places doing that.
[quote=sdrenternts]

It looks like she has been collecting rent from me but have not been making her mortgage payments.

[/quote]

That is common and legal (though sketchy).
A landlord does not have be current with mortgage to ask for rent (or to evict you for non-payment).
[quote=sdrenternts]
Today, the house was listed for sale. The sale comps are $550,000 but the condo is llsted for $670,000. There is no for sale sign on my condo.

I would just like to understand what’s going on. She has been dishonest since day 1.[/quote]
Yup
[quote=sdrenternts] If she was really just “refinancing” why would she want me to lie for her?
[/quote]see above
[quote=sdrenternts] Whether she’s going through a short sale or not, why would she price the listing so high? [/quote]Wishful thinking
OR
She is going for a HAFA short sale which tends to be higher priced but offers money to a seller for moving expenses.
[quote=sdrenternts] Are there HAMP programs for investors?
[/quote]
Negative ghostrider.
Almost every government program is contingent on residence.
[quote=sdrenternts]If the listing agent knows that the property does not qualify for a short sale, is there an obligation to inform the bank?
[/quote]
There is no indication based on what you have said that it does not qualify.
They may lower the price or your knowledge of comps may be wrong or they may accept a much lower offer.
That is not really material.
[quote=sdrenternts]
Do leasings agents have a duty to disclose distressed property — especially when specifically asked?
[/quote]
Yes but it is public record when the default was filed. If the Notice of Trustee Sale started in July 2010 then it is unlikely that the Notice of Default existed in Feb 2009.
But yes, it is possible that he could have been lying.
[quote=sdrenternts]
Lastly, if something fishy is going on, is this worth reporting (i.e. will anyone care?).
[/quote]
Probably not.
However you can use this to your advantage.
You should insist upon an electronic lock box and 24 hours notice and that it only be shown M-F 9-5
Then you should ask for a discount in rent for:
-keeping the place in showing condition
-showing it outside of normal business hours (9am-5pm)
-showing it on the weekends
-Open houses
and remind her about the lying request.

Also, bear in mind that if she gets foreclosed on while you live there, then worst case, you get 90 days free rent.

So, in many ways, it is not a bad thing if that happens.

Also, you should insist upon getting your deposit back or that it be held in someone’s trust account.

[quote=sdrenternts]
I’d really appreciate any insight or advice anyone has to offer. Thanks.[/quote]

[urbanrealtor]

[quote=sdrenternts]In May 2009, I signed a 2 year lease and the realtor/leasing agent did not disclose that the landlord was in default even though I asked.
[/quote]
This was probably true at the time (based upon the rest of your post).
[quote=sdrenternts]
In July 2010, there was a notice of trustee sale on the door. Right about the same time, my landlord tried to evict me and my kids. She accused us of changing locks, having a pet in the house, etc.
[/quote]
Unless it was a multiyear lease, why not just terminate the tenancy without the bullshit?
Probably there was some other factor (like her financial distress at play) and she was either venting or thought getting you out would benefit her in some way.
Either way it sounds pretty classless.

[quote=sdrenternts]
Then she changed tactic and told me that she was “refinancing” and if anyone asks, I am her sister (despite the fact that she’s Persian and I am Asian). However, no one came by (as far as I know). It appeared that she managed to “refinance”. [/quote]
Probably she had always claimed the house as a primary and the “refi” was really a loan mod.
It is common in these mods to stop paying the mortgage and sometimes, it comes up for NOT again.

If you are willing to lie for her (and I am not saying you should), then at least ask for a rent discount for doing so.
You deserve some compensation for this bs.

[quote=sdrenternts] Then, I found out that the condo is again scheduled for a court house sale in February 2011 – but the sale date kept getting changed. The owed amount went from $595,000 to $625,000 in the 7 month period.
[/quote]
That is probably the amount growing as she misses payments.
It is probably not an actual larger refi.
In 2009, there were not a lot of places doing that.
[quote=sdrenternts]

It looks like she has been collecting rent from me but have not been making her mortgage payments.

[/quote]

That is common and legal (though sketchy).
A landlord does not have be current with mortgage to ask for rent (or to evict you for non-payment).
[quote=sdrenternts]
Today, the house was listed for sale. The sale comps are $550,000 but the condo is llsted for $670,000. There is no for sale sign on my condo.

I would just like to understand what’s going on. She has been dishonest since day 1.[/quote]
Yup
[quote=sdrenternts] If she was really just “refinancing” why would she want me to lie for her?
[/quote]see above
[quote=sdrenternts] Whether she’s going through a short sale or not, why would she price the listing so high? [/quote]Wishful thinking
OR
She is going for a HAFA short sale which tends to be higher priced but offers money to a seller for moving expenses.
[quote=sdrenternts] Are there HAMP programs for investors?
[/quote]
Negative ghostrider.
Almost every government program is contingent on residence.
[quote=sdrenternts]If the listing agent knows that the property does not qualify for a short sale, is there an obligation to inform the bank?
[/quote]
There is no indication based on what you have said that it does not qualify.
They may lower the price or your knowledge of comps may be wrong or they may accept a much lower offer.
That is not really material.
[quote=sdrenternts]
Do leasings agents have a duty to disclose distressed property — especially when specifically asked?
[/quote]
Yes but it is public record when the default was filed. If the Notice of Trustee Sale started in July 2010 then it is unlikely that the Notice of Default existed in Feb 2009.
But yes, it is possible that he could have been lying.
[quote=sdrenternts]
Lastly, if something fishy is going on, is this worth reporting (i.e. will anyone care?).
[/quote]
Probably not.
However you can use this to your advantage.
You should insist upon an electronic lock box and 24 hours notice and that it only be shown M-F 9-5
Then you should ask for a discount in rent for:
-keeping the place in showing condition
-showing it outside of normal business hours (9am-5pm)
-showing it on the weekends
-Open houses
and remind her about the lying request.

Also, bear in mind that if she gets foreclosed on while you live there, then worst case, you get 90 days free rent.

So, in many ways, it is not a bad thing if that happens.

Also, you should insist upon getting your deposit back or that it be held in someone’s trust account.

[quote=sdrenternts]
I’d really appreciate any insight or advice anyone has to offer. Thanks.[/quote]

[Author]

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