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short sales in colorado springs: Dealing with the Dr. Jekyll and Mr. Hyde negotiator - 11/14/11 01:14 PM
Although banks are approving short sales more now than in previous years, dealing with bank negotiators can still be frustrating for many of us.  Some agents have stated they contact the negotiator once every couple of weeks for their short sale listings.  In my experience, I have had to contact the negotiator more frequently than once every two weeks for most of the short sale transactions I have closed successfully particularly, when I’m dealing with the Jekyll/Hyde negotiator.

 
The Jekyll and Hyde negotiator will tell me one thing during a phone conversation and something completely different over email.  This … (3 comments)

short sales in colorado springs: 3 bed/3 bath home for sale in Colorado Springs ~ Short Sale - 10/17/11 11:37 PM
Search for homes in Colorado Springs
For more information on Colorado Springs Real Estate or the Colorado Springs Area contact me or visit my website. … (4 comments)

short sales in colorado springs: Earnest money and short sales - 05/27/11 11:02 AM
As we all know, there is nothing short about short sales when it comes to waiting on the bank for approval.  In Colorado, we have a short sale addendum stating the buyer or seller can terminate the contract any time prior to the short sale acceptance deadline indicated in the addendum.  The new addendum now has a selection not allowing either party to back out until bank acceptance but that box is not normally checked by agents.



Many agents in Colorado Springs do not deliver earnest money until after the bank approves the short sale so the buyer … (8 comments)

short sales in colorado springs: Short sale property available in Monument, CO - 05/13/11 03:43 PM
For more information about this property, please contact Brian Boals at 719-459-9955 or Patricia Beck at 719-660-9058

Search for homes in Colorado Springs
For more information on Colorado Springs Real Estate or the Colorado Springs Area contact me or visit my website. … (3 comments)

short sales in colorado springs: 4-level Home for sale near Peterson AFB in Colorado Springs - 03/11/11 10:28 AM
For more information about Colorado Springs Homes for sale visit my Pikes Peak MLS search. … (2 comments)

short sales in colorado springs: I don't show short sale properties to my clients... - 12/10/10 02:55 PM

I've heard many real estate agents say this and I wonder if they are not showing their clients short sales because they don't want to deal with short sales or if their buyers have made the choice to eliminate them from their home search.
If agents choose to exclude short sales regardless what their client wants, does that violate the Exclusive Right-To-Buy Listing Contract?  What if the agent eliminates short sale properties that match a buyer's criteria and the buyer never chose to exclude short sales from their search?  The agent may feel they are saving their buyer time and protecting their … (148 comments)

short sales in colorado springs: Having a home winterized? Beware! - 03/26/09 06:54 PM
I wrote a post some time ago about the bank changing the locks and winterizing one of my short sale listings.  When the time came around for inspections to be completed, leaks in the plumbing were discovered.  The buyers I am working with decided to move forward with the transaction and have a plumber repair the leaks.  I contacted the bank to let them know that the property had been improperly winterized and that the plumber also said it wasn't done correctly which resulted with the home having water leaks.  The bank said the short sale listing was being sold as is … (16 comments)

short sales in colorado springs: Where is our support when it comes to short sales? - 03/11/09 12:51 PM

 
 
 
 
 
We all know that working with short sale listings can be a tremendous amount of work.  Banks and sellers can be uncooperative while buyers often become impatient.  Sometimes I just want to pull my hair out when dealing with banks! 
Of course, agent commissions are also often reduced by the bank(s) involved in the short sale transaction and sometimes even more if an agent is working as a Transaction Broker. 
 
 
 
On February 24, 2009 Fannie Mae sent out an announcement to servicers.  Part of the announcement highlighted the negotiation of agent commissions:
… (4 comments)

short sales in colorado springs: Colorado Springs Short Sales: Part 3 - 10/30/08 09:32 AM
Sellers in Colorado Springs need to research the tax and economic consequences prior to making the decision of whether or not to short sale their home. 
Formerly, homeowners who sold their home through the short sale process would be 1099ed for the difference.  The homeowner used to be required to pay taxes to Uncle Sam since it was viewed by the IRS as income!  The Mortgage Forgiveness Debt Relief Act of 2007 should help alleviate the tax problems related to debt forgiveness for homeowners in this situation. 
Although sellers do not have to pay taxes on the mortgage deficiency to the IRS … (1 comments)

 
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Colorado Springs Realty Patricia Beck

Colorado Springs, CO

More about me…

Re/Max Real Estate Group, GRI, CDPE

Office Phone: (719) 599-8500

Cell Phone: (719) 660-9058

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Colorado Real Estate – Real Estate Agent, Patricia Beck, specializing in new and existing home sales, short sales, and bank owned properties in Colorado Springs.


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