California short sales- I just emailed you. I felt it was better that way. Thanks! 

John- Great domain name.  If you ever have a referral in Ilinois let me know.  Also, I'm curious - how do you do deed in lieu of foreclosure as a broker?  Do you charge a broker fee for negotiating this -or an attorney fee? 

You should contact Cardinal Financial in San Diego, they work with Realtor to buy properties in preforeclosure. Since agents need an offer to get started, they provide the offer and they negotiate the deal. If the bank refuses to discount the property low enough for them to buy, they will continue negotiations until the Realtor finds a buyer.  

From what I've heard, Cardinal Financial has had a lot of success helping homeowners, and getting Realtors commissions they otherwise wouldn't earn because they don't have the experience or knowledge to handle the transaction. 

You should contact Cardinal Financial in San Diego, they work with Realtor to buy properties in preforeclosure. Since agents need an offer to get started, they provide the offer and they negotiate the deal. If the bank refuses to discount the property low enough for them to buy, they will continue negotiations until the Realtor finds a buyer.  

From what I've heard, Cardinal Financial has had a lot of success helping homeowners, and getting Realtors commissions they otherwise wouldn't earn because they don't have the experience or knowledge to handle the transaction. 

What....no ice cream here either.....

I guess I will have to work for a living..........Whats ths world coming to when there are Realtors who want to get paid just for listing the property. ...Of course, when I contacted my lawyer today to discuss a deal we are involved in, I realize my time was free and I will get a bill whether I close or not from the lawyer....

Apparently, my time is not worth as much

I am not sure why anyone would think finding an offer is difficult?  Lots of Realtors have friends who will buy a property at price in which the rent covers the mortgage and expenses.  

Negotiating a purchase is not the trick.  Protecting the seller from a deficiency is the point of a short sale.  (in my opinion).   

bo I skipped your comment last time sorry.  Deeds in lieu of foreclosure are done by myself and another attorney at my law firm.  We generally charge about 1000 to 2000 dollars.  To review the situation, commence negotiations and draft and review documents. 

The fact the domain name was available when I got it was amazing to me. 

so who is doing all the short sale work?  you or the broker?  there have been plenty of times when the lender doesn't disclose until the final agreement letter that the seller will not be released from liability, so do I understand your criteria right in that at that point the broker would give up the listing?  it's hard to say sometimes how long a SS will take, anyone who has done more than a handful can attest to that. 

it's getting late, I'm sure I must be mis-reading your post.  [shakes head]

Wendy I own a Real Estate brokerage and I am also an attorney with Quintana McConnin & Sarte

Deed in Lieus require drafting, reviewing and negotiating legal arrangements.  I do that work as an attorney. 

Generally, my clients first attempt a short sale  before they consider a deed in lieu.  But if people have purchase money loans and are concerned about tax liability to the state of California -- they might not want to do a short sale.  (as of early may 2008)  

So to me the breakdown is pretty easy  lawyers do the legal work and Realtors do the realtor work. 

As far as the timing - in general if the clients are going to offer a Deed in lieu, I would like to offer it well ahead of the Notice of sale because the lenders need time to get it to the investors.  And if there are two lenders we need to work out a short pay to the second.  Yes the broker would lose the listing - which is why many sellers just wish to keep the listing with my brokerage.  But, if there are no deals on the table after the Listing agent has the listing for 30 -60 days - it is a sign that perhaps a Deed in Lieu should be considered anyway. 

If anyone wants to see our San diego homes for sale and mls listings

All but one or two of those listings are my referals to the Realtor at my brokerage.  I still refer some of my clients to other brokerages.   

Prior to a few months ago, I just referred out listings to a few different Realtors.  In some cases I took the lead in the short sale negotiations and in others I stayed behind the scenes.  For instance just last week a short sale closed in which the lender was asking my client to sign a note.  I told the Realtor what to do and the lender then agreed to release my client from liability - so I never had to get involved.  (it does not always go that well.)

I agree it is sometimes difficult to determine when I am a acting as Realtor and when I am acting as an attorney.  When it matters I make sure my clients know the difference.  The good things is I am a licensed to do both.  So I guess I am in the large set of Realtors who practice law,  I just happen to be in the small subset who have a license to do so.  

I have said many times - Realtors practice law without a license everyday,  some of them even do it pretty well.