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California Association of Realtors Trying to Make Our Job Easier

By John Occhi

Services for Real Estate Pros with AZ Veteran Notary Services CA BRE 01444168

August 22, 2007 05:42 PM

California Association of Realtors Trying to Make Our Job Easier
By John Occhi, Hemet CA REALTOR®
Hemet CA Real Estate

The California Association of REALTORS® (CAR) just published its regular e-newsletter with a link to a newly designed chart that has just been released to help a California REALTOR® determine what disclosures are necessary when negotiating a purchase contract for a property that has been foreclosed on and is now owned by the lender - or by the industry term, REO.

CAR claims, the "Disclosure Chart for for Trustee/Foreclosure Sales and REO Property Sales (for Residential 1 - 4 Unit Properties), is designed to provide REALTORS® and their clients with an easy-to-use reference guide for determining the general applicability of the law to these types of sales transactions."

My question is if it is suppose to be so easy, why couldn't they just come up with an easy name, I don't know, maybe "Foreclosure Disclosure Chart". I guess they have to sit around and come up with this stuff to justify the big bucks they bring in.

Now Have a Blessed Day,

John Occhi, Hemet CA REALTOR
Mission Grove Realty

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Steve Mun

Keller Williams Silicon Valley - Santa Clara, CA

Silicon Valley Realtor

Thanks for sharing the knowledge John.

Aug 22, 2007 05:55 PM

William Johnson

Retired - La Jolla, CA

Retired

Wouldn't ya Think? Actually they do such a good job, it would be good to forgive this exaggerated effort to totally descriptive. LOL

Aug 22, 2007 06:52 PM

Rich Kruse

Gryphon USA, Ltd. - Columbus, OH

John - All I got was a login page. Can you post the chart?

I was in a meeting at the Board here about a month ago. There is a lot of confusion here on how to deal with it as a lot of the servicers won't complete the disclosure forms. With the smaller local banks and the trustee sales, it is common for a large X to be drawn on the form with the words "seller is at trustee (or lender), has never lived in the property and has no knowledge as to the defects or potential defects in the property". Some just write UNKNOWN across the page and sign.

Aug 23, 2007 12:39 AM

Gary Bolen

McCall Realty - South Lake Tahoe, CA

CRS - Lake Tahoe Real Estate Information

Perhaps the alliterative nature of "Foreclosure Disclosure Chart" was... well, just to literate for the bureaucrats, but the chart is a good thing, though we rarely see foreclosures up here. There's only a very few, and that's a good thing.

So somebody is about to pass another AR milestone and get invited to join the Silver Star Group. Congrats on this immediate rite. This is another good thing too.

Aug 23, 2007 02:31 AM

John Occhi

AZ Veteran Notary Services - Marana, AZ

Mobile Notary Public/Certified Loan Signing Agent

Steve Mun - It's not so much knowledge that I have shared here, it's just passing on a resource from the CAR

Aug 24, 2007 03:17 AM

The Real Estate Text Book authored by William Johnson - You are right, they do do a good job - and it's not that they need my forgiveness, but do they have to sound so bureaucratic?

Aug 24, 2007 03:19 AM

Gary Bolen - Good for you that you are not seeing the problem we are here in the Hemet market, and yes it is a very useful chart.

As far as the milestone, thanks - it happened so quick that now I am there!

Aug 24, 2007 03:22 AM

Rich Kruse I'll get you a copy - I tried doing a copy and paste while multi-taking and all of a sudden my computer is acting funny - I think some EVIL juice got in here somehow. In any event, I need to reboot and then I'll figure out how to get a copy to you.

Aug 24, 2007 03:24 AM

California Association of Realtors Trying to Make Our Job Easier

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