-
Quick Tour
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.- Explore the world's largest storehouse of real estate knowledge
- Access free training on ActiveRain University
- Share the experience of life in the real estate industry
- Grow your business through real estate blogging
- Blogs
-
Resources
Product Reviews Curious as to what others in your profession think about a certain product or tool? AR's community takes the time to leave honest and transparent reviews of their experiences so you can be a bit wiser about your purchase.
- Broken down by categories and subcategories for easy finds
- Get an unfiltered look at what real users are saying
- Leave a review yourself for others to benefit from
- Add new products as you use them and gain points for doing so
|
;)
;)
;)
Find CA real estate agents and Oakland real estate on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2013 ActiveRain Corp. All Rights Reserved
10 Comments on Be aggressive not reckless if writing a short sale offer in Alameda CA
Very wise advise. You want commitment to run both ways before putting cash on the table.
A buyer who is buying a short sale property should use a Realtor who is well versed in the proper procedures for framing a short sale offer as well as all of the other aspects of a short sale that are handled differently from an equity sale.
The buyer to which you are making reference got some very bad advice from an agent who did not know what they are doing.
Pacita
Clearly someone does not know what they ashould be doing in order to protect the interests of the client, and the poor client listened.
I'm surprised they could get an appraisal - normally that would only be done with a ratified contract in place which you don't have without the short sale approval in writing.
Jeff
Being reckless is usually not a good thing Pacita.
Being agressive though, can have its benefits.
Pacita, great piece of advise especially first time buyer who does not know what to loose out the opportunity to own that home. Buyer agent like yourself can help them guide on what can be removed and not.
I'm not sure that I'd advice the buyer to get a home inspection before the short sale approval. And the only reason that I can think of that a buyer would do it before approval is because they didn't want to wait months for the inspection only to find out that they don't want the property any way because of a multitude of issues.
I agree with Tom #4 on this one Pacita. In my business world reckless NEVER - Aggressive as needed always keeping my clients best interest in the forefront. Suggested.
Gene -- we can open escrow at short sale acceptance...and even remove some contingencies in a competitive situation. But not remove all of them or order/pay for inspections. These could be costly mistakes
John -- you may have seen the details about this buyer who posted his question on Trulia. It's one of those tsk tsk scenarios
Jeff -- I questioned how the buyer was able to get a loan appraisal (and loan approval) without getting the short sale written approval, too. An eagle-eyed lender would want that
Tom -- People need to understand that there's a world of difference between being aggressive and getting reckless. Professional drivers may drive fast but they're hardly reckless; unlike some teenagers who think they're Mario Andretti. Same with seasoned short sale agents -- they know what to do; but newbies may not.
Ritu -- unfortunately for that buyer (who posted his problem on Trulia) he will need to consult a real estate attorney to get out of this fiasco if he needs/wants to
Charita -- like you, I wouldn't want the buyer to pay for any inspections or appraisal before getting a written short sale approval
John -- when it comes to other people's money, I'd tread very carefully, too
Different parts of the country have different practiices....here. ....and in our practice...the buyer does the inspection and deposits earnest money from the SELLER approval,...not the LENDER'S....working for the Seller, if there is a problem with the inspection...learning it 60 plus days later is not a good thing...for either the buyer or seller....and for us, and all we serve, this works well.
Sally and David
You're right....it all depends on your buyers and your market, I guess. But I will be concerned if the short sale isn't approved, and my buyer spends all that money on inspections (and it's happened more than once). It's advantageous for the seller who now can take advantage of the reports being part of the disclosure package. So if the buyer walks, there won't be any surprises for the next buyer.
Login or register to leave a comment