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Are WE the problem with Short Sales?

By Bryant Tutas

Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690

September 25, 2011 02:31 AM

DiscussionsRepliesLatest Activity

Are We Now The Problem??? I know, I know I'm going to get hammered for this one but I have to ask opinions on this. It has dawned on me that as banks try to improve… Started by Eric Mieles	2	5 seconds ago Reply by Bryant Tutas
Need B of A Contact for Short Sale value dispute Since this transaction is being handled through Equator I don't seem to have the luxury to speak to any one. So if any of my associates out… Started by Lisa Swaim	8	10 hours ago Reply by Becky Martin
Litton Short Sale transferred to OCWEN before closing Hello Superstars: Can anyone advise me on who to "talk" to at ocwen? I have a Litton Loan Approved Short Sale that was to close last Fri… Started by Judy Bell	3	11 hours ago Reply by P Nicolas Velecico
BPO won't use short sale comps to complete the BPO on a SHORT SALE Does anyone see a problem with this? An agent sent over an offer of $300,000 on a extremely difficult listing (very difficult tenant). S… Started by Lydia Terry	3	21 hours ago Reply by Smitty
HAFA Experiences for Upcoming Panel Hello All, Very excited to report that I have been asked to sit on a panel with representatives from Fannie, Freddie and the Dept. of Treas… Started by Chris Black	6	yesterday Reply by Becky Martin
GMAC & HAFA...wow Here is a new one: First things first just so everyone knows GMAC does not automatically review sellers for HAFA qualification like other l… Started by Cody Lampariello	9	yesterday Reply by William F Griffin Jr
Shortsale Appraisal and Price Hi there- After disputing an appraisal and being made to raise the price $75K over value, B of A is finally ordering a new appraisal. Now… Started by Kathy Scruton	8	yesterday Reply by Kathy Scruton

Can a seller be approved for a second HAFA short sale? Our seller sold under the HAFA program. Moved into a second property that they owned and then had additional hardships that forced a sale… Started by Rick Bennett	3	on Thursday Reply by Shane Persinger
HELP! I need to get 2 judgments released to close a short sale. Hi Everyone, I could really use some help. I have a client that has 2 judgments that need to be released so that her short sale can be com… Started by Carolyn Lien	3	on Thursday Reply by Jeff Payne

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JOSH EVANS *JoshEvansHomes 516-655-5000

Village Properties of Mineola, LLC - Mineola, NY

I find that short sales suck and are a waste of time the banks suck

Sep 25, 2011 02:33 AM

Charlie Ragonesi

AllMountainRealty.com - Big Canoe, GA

Homes - Big Canoe, Jasper, North Georgia Pros

What a great collection of "short " stories. I went thru a couple . Thanks for putting them together. I will come back to this post and read some more of them

Sep 25, 2011 02:35 AM

Linda Edelwich

William Raveis Real Estate - Glastonbury, CT

Serving Glastonbury & Beyond | 218 New London Trnk

Short sales are so hard to put together around here - seems banks are the problem.

Sep 25, 2011 02:36 AM

Michael L. Brownstead

Brownstead Real Estate, LLC - Frisco, TX

ABR, GRI, MRP, SRS, 1SG US Army (Ret.)

Bryant, thanks so much for the info, we can never learn to much about short sales; thanks again!

Sep 25, 2011 02:54 AM

Dan Hopper

Dan Hopper - Gold Way RE - Westminster, CO

Colorado Broker / Referral Services

Nice posting, Bryant. Short sales comprise of aobut 70% of my business, over the last 4 yrs. Yes, there are times that you really believe the banks just do not get it!! Thank goodness I have a short sale team that processes the short sales, so that I can do what I am licensed to do... market and sell real estate!! We will lose some but we are a lot more successful in getting to the short sale approval. Do not be your own obstacle to the short sale process!!

Sep 25, 2011 03:28 AM

Rodney Mason, VP of Mtg Lending

Guaranteed Rate NMLS# 2611 - Atlanta, GA

AL,AR,AZ,CA,CO,FL,GA,IN,MI,MS,NC,NV,SC,TN,TX,VA,WA

There are most definitely agents out there who are clueless when it comes to short sales. That in itself will impede the approval process. Not submitting a full, complete, and accurate short sale package to the lender is probably one of the biggest issues. I see so many issues with just regular contracts that I cant imagine some of the agents are really capable doing any better on a short sale.

I did see one comment on one of the posts that the banks should hire the listing agent. Since the seller is still the home owner, the bank has no say in which agent gets hired. There is too much liability if a lender requires the use of a specific agent if the home does not sell. I think some are now giving a list of potential candidates, but not required agents.

Sep 25, 2011 04:42 AM

Gary L. Waters Broker Associate, Bucci Realty

Bucci Realty, Inc. - Melbourne, FL

Eighteen Years Experience in Brevard County

Short sales and BPOs... I have done a few hundred BPOs in my farm area and I absolutely hate when they say no short sale comps. It paints an unrealistic picture of the market. Great collection of articles/discussions.

Sep 27, 2011 12:41 AM

Are WE the problem with Short Sales?

Are We Now The Problem???

Need B of A Contact for Short Sale value dispute

Litton Short Sale transferred to OCWEN before closing

BPO won't use short sale comps to complete the BPO on a SHORT SALE

HAFA Experiences for Upcoming Panel

GMAC & HAFA...wow

Shortsale Appraisal and Price

Can a seller be approved for a second HAFA short sale?

HELP! I need to get 2 judgments released to close a short sale.

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