short sale negotiation errors and omissions policies: Things a Listing Agent Should Never Tell a Short Sale Lender..
- 05/22/11 09:47 AM
There is a disturbing trend in short sales....an investor puts a property uder contract and begins to market tghe property for future sale. Listing agent discovers that there may be a higher offer. They then tell the short sale lender! This is a mistake for valid legal reasons. The listing agent's duty is to the home owner. In telling the short sale lender that there "may" be a higher offer, you are breaching that duty to your client! If the short sale that you submitted is rejected, you are now liable to yoru client because you had no duty to disclose … (2 comments)
short sale negotiation errors and omissions policies: Confessions of an Industry Insider
- 11/29/10 06:35 AM
Every day I read various posts about short sales, foreclosures, loan modifications etc. There is a perspective that I would like to share as an industry insider. Why am I an insider?? I work with many other attorneys throughout the nation in these areas on behalf of home owners - short sales, loan modifications, deed in lieu, foreclosure defense, etc. However, I am also still listed as a foreclosure attorney for one of the nations largest (and most hated) banks.
The perspective that I would like to share is that PLEASE, PLEASE, have a third party negotiate the short … (2 comments)
short sale negotiation errors and omissions policies: Short Sale Negotiations, an Attorney's perspective
- 10/18/10 11:58 PM
I have read numerous posts about "short sale specialists" and other titles that denote a prowess in negotiating short sales. I wanted to provide some perspective in this area because there are problems on the horizon and many do not see this coming. It may not be prudent for the listing agent to negotiate the short sale. In Orange and Los Angeles Counties, California, there are over 4,000 lawsuits against agents that unsuccessfully negotiated a short sale and the home owner filed a lawsuit. Personally, I feel that the home owner has to take personal responsibility for the situation, but we all know that in … (4 comments)
Author Bio: Paddy Deighan earned his Juris Doctorate and PhD Paddy consults with taxpayers in regard to tax liens, tax levies, tax levy, offer in compromise, tax debt, tax settlement
There is a disturbing trend in short sales....an investor puts a property uder contract and begins to market tghe property for future sale. Listing agent discovers that there may be a higher offer. They then tell the short sale lender!
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