According to Bruce Alit, Chief Compliance Officer at the Nevada Real Estate Division, a licensee can negotiate short sales with lienholders providing the licensee is part of the real estate transaction, as evidenced by being on the "Duties Owed." Read the Division's position statement by Clicking Here. Attorneys may handle short sale negotiations because they are exempt under NRS645.380(1) 3rd party negotiators (other than attorneys) must be licensed under the guidelines set forth by the Nevada Mortgage Lending Division. Click Here for Licensing Requirements. Here's a list of licensees and applicants who are eligible for conducting Pre-Foreclosure and Loan Modication activities, according to the Nevada Mortgage Lending Division - Check Here for the List Is the company you're using licensed to negotiate pre-foreclosure sales (short sale) ? Is a real estate licensee who is not a party to the transaction handling the negotiations? Is your unlicensed/virtual assistant doing it? Is the title commpany doing it? According to Mr. Alit, you will be held accountable if you hired or recommended for hire, an unlicensed loan modification / pre-foreclosure consultant. I'm interested in hearing from you.
Steven Kitnick, CNE, CSP, GRI, RRG
Steven Kitnick Seminars, LLC
www.shortsaleprofessionalnetwork.com
(702) 255-8722
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