Shady Sales or Short Sales

By
Real Estate Broker/Owner with Cam Realty and Property Management
http://actvra.in/589q

Shady Sales or Short Sales

I wish I could say short sale listings are behind us but we are not there yet. Although Clermont FL real estate market is no longer driven my Short Sale and REO/Bank Owned listings, they are out there.

As a buyer or a homeowner having to list your house is a short sale, it is essential for you to work with a REALTOR® who has extensive Short Sale experience. Take my advice on this, you’ll thank me.

What do I mean by Shady Short Sales?

Do I have proof they are shady? It's very easy to follow the transaction and figure out what really happened. My question is do banks like Chase, Wells Fargo, Bank of America really care?

I spoke to a homeowner who is having to list her house as a Short Sale. After talking to her for about ten minutes and asking the right questions, I knew I couldn’t help her. She doesn’t want to move out of her house, she would like to buy some time and that doesn’t work for me. That’s shady. My heart goes out to all who are in this position, however, I list homes to get them sold.

Not all shady business is on the selling side but could be on the mortgage side as well. Have you ever tried to see a short sale listing and couldn’t only to find out it was under contract and the buyer’s agent was also the listing agent? A straw buyer comes to mind!

Then there are those where the home is listed by the Broker but the selling agent’s contact from beginning to end is the Realtor who’s also on the mortgage..hmm..shady sale or short sale? You decide!

Purchasing a home is probably one of the largest purchases you will make in your lifetime, why take chances and why have a bad experience? Select an agent who is going to work for you by going above and beyond.

We all have our ups and downs in life, if you are behind your mortgage payments, don’t add a Foreclosure to your credit report. You do have options. Did you know you can purchase a home two years after a short sale with a conventional loan and if you wait three years, you may qualify for an FHA loan.

Whether you’re looking to buy or sell a home in Clermont, Minneola, Groveland, Winter Garden areas, I would love the opportunity to speak with you. Call or text 407-929-1852, email bethatalay@gmail.com or visit www.WhereToLiveInOrlando.com

Shady Sales or Short Sales

 

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Rainmaker
340,382
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

I tell them they can live there while I workout the short sale. I'll see if they can get some Relocation Money from their bank. If that's not good enough then they are just looking to live it out in the house as long as they can & I'm not interested in that. I don't however judge those looking to ride it out. There are reasons & sometimes it benefits them to, but that's a whole other conversation. 

Nov 10, 2017 09:05 AM #17
Ambassador
2,594,158
Anna Banana Kruchten CRS,CRB
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana of Real Estate!

Beth very good exposing the shady sides to short sales.  Thankfully we don't have many anymore in my area but we ran into every scenario you mentioned above - and it was frustrating at times but we learned to navigate the short sale waters quickly.

Nov 10, 2017 09:54 AM #18
Rainmaker
2,424,191
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - Probate Broker

Beth,  Shady and arms-length come to my mind.  There is still a lot of dishonest and unethical people out there ... 

Nov 10, 2017 10:55 AM #19
Ambassador
2,548,409
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Beth - It takes a true professional to navigate those waters and find a positive outcome for their clients, and I've always been in awe of your ability to provide that. Have a great weekend!

Nov 10, 2017 11:18 AM #20
Rainmaker
3,389,206
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Beth,

There is no doubt that you understand the nature of short sale, and good for you for exposing the shady side.  A

Nov 10, 2017 11:52 AM #21
Rainmaker
1,393,697
Sandy Padula and Norm Padula, JD, GRI NMLS#1483386
Realty One Group - Carlsbad, CA
Presence, Persistence & Perseverance

Beth Atalay Way back in the '0[8 Era of Short Sales, we did have one self-serving agent who manipulated a purchase of one of our listings and it turned out he was in cahoots with the Wells Fargo asset manager. I reported him, but nothing ever came out of it. Guess the thieves still get away with their crimes.

Nov 10, 2017 12:08 PM #22
Ambassador
1,375,197
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

What a bummer to hear this stuff is still going on. :( Shady anything doesn't fly. Transparency is everything in this business. 

Nov 10, 2017 01:09 PM #23
Rainmaker
1,700,778
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I believe it to be fact that Chase, B of A and Wells Fargo truly don't care about anything other than their bottom line.

Nov 10, 2017 01:57 PM #24
Rainmaker
153,413
John Van Hogen
Keller Williams Realty Professionals - Beaverton, OR

Just a handful of short sales exist in the Portland market Beth. Some are 'shady' deals for sure, but some are owners who made an unfortunate choice and/or bad decision. Always seems to be someone ready to put their interests before the client's.

Nov 10, 2017 02:14 PM #25
Rainmaker
269,624
Dana Basiliere
Rossi & Riina Real Estate - Williston, VT
Making deals "Happen"

Beth Atalay ,

Yes Beth we don't list houses unless they can be sold. SS are a pain because of the trauma the sellers are going through but they need to play that card.

Nov 10, 2017 06:44 PM #27
Rainmaker
501,445
Carolyn Roland-Historic Homes For Sale In Delaware and S. Chester County PA
Patterson-Schwartz Real Estate - Wilmington, DE
Carolyn Roland, GRI, CRS

Beth-Good for the honest agents who can help people in a short sale situation but I don't intend to do this type of sale because of the foot dragging by the lenders who don't communicate with the agents or the short sale negotiators.

Nov 10, 2017 07:38 PM #28
Rainmaker
206,726
Susan McCall, Everyone needs a home
Compass Realty Solutions, Portland, OR & Vancouver, WA - Portland, OR
Quickly, professionally and with a little fun!

I feel for you if your market is still short sales.  For a while those were the only properties for sale.  Glad to say I don't see many these days.

Nov 10, 2017 07:48 PM #29
Rainmaker
3,200,226
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Beth

It would be to our best interest to steer clear of the shady sales.

Good luck and success.

Lou Ludwig

Nov 10, 2017 08:05 PM #30
Rainmaker
3,200,226
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Beth

Congratulations on a well deserved feature on your post.

Good luck and success.

Lou Ludwig

Nov 10, 2017 08:06 PM #31
Rainmaker
2,461,069
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Sandy Padula and Norm Padula, JD, GRI NMLS#1483386  interestingly I loved Sally K. & David L. Hanson  comment,  just to be clear I never bothered but had I turned this guy into the FBI I still do not believe it would be taken care of... just look at what is going on at the highest political level... just sayin...Endre

Nov 10, 2017 09:20 PM #32
Rainmaker
1,104,565
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Each morning, I want to be able to look myself in the face Beth Atalay and be happy with what I see.  I leave  "Shady" alone ... 

Gene

Nov 11, 2017 08:12 AM #33
Rainmaker
2,342,075
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Beth Atalay,  You come up with a excellent topic and you tell it like it is which is what I like about you always.

Nov 11, 2017 08:42 AM #34
Rainmaker
282,122
John Wiley
Jones & Co. Realty - Fort Myers, FL
Lee County, FL Real Estate GRI, SRES,GREEN,PSA

Beth, I think the best point you make in your post is:ASK THE Right Questions.

We can often get so excited about getting a listing that we miss critical information that really say: You don't need this listing it is not for you.

I also agree that people that have a situation that requires a Short Sale, should use an experienced agent to guide them through the process.

Nov 11, 2017 11:14 AM #35
Rainmaker
725,493
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Beth Atalay - I really feel for your situation. We had asmall amount in outlying areas but they are almost non-existent now.

The big banks don't care and yes, there are a lot of shady things going on with some ot these homes. 

Nov 11, 2017 12:26 PM #36
Rainmaker
836,809
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Very smart advice.  I stay away from those situations, too.  It's funny how people think that's legal and don't understand that just telling someone outloud is a bad idea!

Nov 12, 2017 07:23 PM #37
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Beth Atalay

Cam Realty of Clermont FL
Sell or Buy Homes in Clermont FL
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