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Can It Get Any Sillier?

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Real Estate Agent with Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales 3090099

Can It Get Any Sillier?

 

I have a client interested in a new condo listing in Jensen Beach.  It is a bank owned property listed by an out of area agent.  The commission offered on the MLS is 1% and states that this condo is to be sold at auction at homesearch.com.

Well, it’s not on homesearch.com.  The agent’s number has been disconnected.  A google search brings up this condo at auction.com where supposedly the bidding began on 6/30/2014 and is supposed to close on 7/2/2014. 

Interestingly enough, there have been no bids.  And, the reason for this is that there is no place to make a bid!

This property is owned or being serviced by Nationstar Mortgage LLC.  I just don’t believe that they are acting in the best interest of their stakeholders.

 

Vent finished, thanks for reading.

Show All Comments
Catherine Ulrey
Keller Williams Capital City - Salem, OR
Equestrian and Acreage Property Specialist

I think you are right!  What a mess!  I think that agents that take listings out of their primary market area NEVER truly serve their client.

Jul 01, 2014 08:55 AM
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Hi Gabe, I wonder how Nationstar Mortgage select their agents to list their properties for sale. 

Jul 01, 2014 11:38 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

You should maybe contact Auction.com, which is owned by REDC (third party vendor for Bank of America), because there might be a site glitch. All buyers can make an offer through auction.com, although they have to pay a 5% premium, and Nationstar uses Auction.com for its short sales, too.

Jul 01, 2014 01:23 PM
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker Realty, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Gabe - Been there done that, wasn't smart enough to vent about it, not a good system, and the banks wondered why they lost money? Good luck on that one!

Jul 01, 2014 02:23 PM
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

That is bogus Gae. This person should not be in the Real Estate business. Your venting is warranted.

Jul 01, 2014 02:43 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hi Gabe -- I think Elizabeth Weintraub has the correct answer -- although the glitches may be an indication of how the transaction may proceed.   Good luck -- keep us posted.

Jul 01, 2014 05:21 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Gabe. That is crazy, hopefully they will figure it out and start doing things the right way. Looking forward to hearing if anything changed.

Jul 01, 2014 08:10 PM
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Gabe.  Sounds like typical big bank crap.  I try not to do deal with them.

Jul 01, 2014 08:21 PM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

I hear you Gabe. And oh yes, that 1% is really tempting!!!

Jul 01, 2014 08:48 PM
Maria Gilda Racelis
Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington - Manchester, CT
Home Ownership is w/in Reach. We Make it Happen!

Hi Gabe: I am leary about properties listed on MLS and bids should be submitted to Hubzu and another site I could not remember. Luckily, my buyers never pursued those properties.

Jul 01, 2014 09:04 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks, Elizabeth.  I'm familiar with Auction.com and try to avoid them at all costs.  The last Auction.com transaction I assisted with wouldn't allow any inspections and I was familiar with the property and knew there were some serious issues that the bank was aware of but didn't disclose.  I won't put into print what I think of these guys.

Jul 01, 2014 09:43 PM
Bobbie Smith
Stroudsburg, PA
570-242-1891

Gabe, Oh No. Not that name again. Eww. Good Luck!

Jul 01, 2014 09:51 PM
Roy Kelley
Retired - Gaithersburg, MD

The world of REO sales if full of stories like this, Gabe. Poor management and poor decisions are common.

Jul 01, 2014 10:20 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Gabe, wonder why they would even put this property into MLS if there is no way to contact the agent OR make a bid!   That is silly!

Jul 01, 2014 11:57 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Gabe just when you think it can not get "sillier" it does....when we have Auctions here we try to tell the world to maximize the bidding price and bring in the most for the "seller" go figure that is not the case here....Endre

Jul 02, 2014 10:07 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thank you for stopping by and taking the time to read my blog.

Feb 17, 2016 04:05 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks. Your comments are always appreciated!

Feb 17, 2016 04:05 AM
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