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Are You Unwittingly Involved in a Sacramento Short Sale Scam?

By
Real Estate Agent with Elizabeth Anne Weintraub, Broker DRE #00697006

All that home buyers really want is to buy a nice home, even if it's a Sacramento short sale, but some of them might never get the chance in a short sale scam. Oh, you can say the blame lies with how easy it is for any person with a pulse in California to obtain a real estate license, but the problem really lies with those of us who see it going on and we don't do anything about it. If you sit on the sidelines when you spot these types of listings, you could be helping to further propagate mortgage fraud.

If you'd like to know how to spot a troublesome or potentially fraudulent Sacramento short sale listing, I've got great tips for you. No buyer's agent worth his or her salt should write an offer for a buyer without first looking at these conditions. There are agents who don't even bother to read the tax records, if you can believe it. Read more in my personal blog on my business website today about Ways to Spot a Sacramento Short Sale Scam.

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Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

Comments (3)

Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

The State of California should deputize you and give you authority to call these crooks on their Short Sale scams.  You'd have them all locked up in no time.

Dec 10, 2013 06:23 AM
James Dray
Fathom Realty - Bentonville, AR

I don't know that I would go as far as Chris did.  I don't think the jail system has enough room for what you would do. 

Dec 10, 2013 06:31 PM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

I just wish there was more we could do. In the instance I mentioned in my blog, I could report that agent to MLS but we have to wait until he does not respond for a day or two, which he hasn't. His voice mail is full (no surprise there) and his broker doesn't seem to respond either. He hasn't yet violated any laws, but all of those red flags in one listing, well, it's highly suspicous.

Dec 11, 2013 02:50 AM