http://www.realtor.org/rmolaw_and_ethics/Articles/2010/1003_law_disclosure
The above link is to an article in Realtor magazine March 2010. It states that realtors are not supposed to present offer to the lander in a shortsale or communicate with them after an offer is recieved. Oh how I wish this were true. In Nebraska a large part of my job in a shortsale is to get the offer to the lender and keep the process moving so my client can avoid foreclosre. The article states that the "closer" should contact the lender. I do not know a title company closer in Nebraska who would do this.
I sent the following email to the author iof the above article:
Hi Stacey
Your article on shortsales (March 2010) is appreciated. I do however disagree with your statement that realtors turn over communication with the lender to the closer once an offer is made. In Nebraska there is not a closer that I know who will call and speak to a lender. Each call can take up to an hour on hold and in transfers. They do not have the time to do this. As a realtor I do not become liable for giving the lender an offer and helping to get them the documentation needed. Lenders either accept, counter or refuse to reply. I have clients sign a paper that states they need to consult with their attorney and CPA to make sure they understand what the shortsale means to them in the future. I am simply trying to help them avoid foreclosure. My job is to present offers to the lender and help the process along.
Thanks
Renee
Any thoughts out there?
Have a great week
Renee
Comments(1)