short sale buyers: Can Corporations or LLCs Purchase Short Sales?
- 04/13/13 11:20 PM
Have you ever represented a buyer on a property that’s an entity and not an individual? Have you ever represented a Corporation, an LLC, or a Trust? Sometimes, in short sales, representing an entity is not so easy. That’s because the short sale lender wants to know who owns the entity in order to ascertain that this is not a fraudulent purchase, according to the short sale lender’s terms and conditions. In fact, some short sale investors/note holders are so concerned about entities purchasing short sales that they have created guidelines that prohibit such a purchase. At Bank of America, they have specific … (8 comments)
short sale buyers: When Your Short Sale Buyer Goes Bye-Bye
- 12/13/11 08:22 AM
It has probably happened to you before. In fact, it is all too common. The short sale negotiation process is long, the short sale contract wasn’t airtight, and the short sale buyer disappears. S/he is ‘gone with the wind.’ There are many things that a short sale listing agent can do in order to promote a really solid short sale transaction. One such thing (and it is very, very easy) is to be a good communicator. On all of our short sales, for example, we send out a weekly status email. An email such as this one can go to the … (13 comments)
short sale buyers: Two Tips for Writing Offers on Short Sales
- 10/30/11 03:00 AM
Cue the violin music. This is the tragic (yet typical) story of a buyer’s agent and her buyer who put an offer in on a short sale that ultimately ended up in foreclosure. The buyer showed an interest in living in a home in a specific neighborhood. There were many properties to choose from, and this buyer liked one particular home because it was the least expensive (please remember this sentence for later in the story). So, in May, the buyer wrote an offer on this affordable short sale, and the seller accepted the offer. The buyer’s agent had very little … (32 comments)
short sale buyers: What Elvis Presley, Michael Jackson and Short Sale Buyers Have in Common
- 10/16/11 12:57 PM
Now and again, I come across interesting real estate articles that reflect on the phrase, “Cash is king.” Of late, I’ve seen a few articles that touch on the topic with interesting perspective. The question that these posts seem to address is this: When writing an offer on a short sale, is the cash offer king (read: the best offer on the table)? I guess the real answer to that question is that it really depends upon your definition of the word king. Receiving the title of king occurs in a variety of ways. For Elvis and for Michael Jackson, king … (37 comments)
short sale buyers: Buying a Short Sale Is Not the Same as Shopping at the 99 Cents Only Store
- 09/01/10 12:54 PM
Buying a Short Sale I love the 99¢ Only Store. Have you ever been there? I guess that they have them all over. When I was in Mexico in June, I even saw that they have their own version of the store. I love the fact that you can fill up your shopping cart with things that you may need (and you may not need) and the whole thing will never cost more than about forty dollars. When my kids were a little bit younger, I would take them there for a special treat and tell them that they could select … (16 comments)
short sale buyers: Buying a Short Sale in Carlsbad Is Like Shopping at the Carlsbad Premium Outlets
- 12/26/09 09:56 AM
I (and every other resident of the North San Diego County area, including a few thousand tourists) was over at the Carlsbad Premium Outlets doing my part to help the national, state, and local economy. By the way, did you know that they now have a David Yurman store there? (Okay, Melissa . . . stay focused.) The crowds at the Outlet Center were huge. Parking was abhorrent and everyone was looking for a great deal, a bargain-just like buyers are doing when they are shopping for short sales in Carlsbad, Encinitas, San Diego County and beyond. The mall itself is … (3 comments)
short sale buyers: Buying a Short Sale in Carlsbad, Encinitas, Oceanside, and Beyond
- 10/29/09 12:30 PM
These are tough times for buyers, especially buyers of short sales in North San Diego County, Carlsbad, Encinitas, Oceanside and beyond. Buyers are frequently frustrated by the short sale process, and have trouble getting into the property that they really want. In this post, I'm going to address a few of the common buyer frustrations when purchasing a short sale.
One frustration is getting your offer recognized or getting a response to your offer. Many local Carlsbad and Encinitas buyers of short sales are having trouble drawing attention to their purchase offers. The purchase offer falls into a stack with … (4 comments)
Have you ever represented a buyer on a property that’s an entity and not an individual? Have you ever represented a Corporation, an LLC, or a Trust? Sometimes, in short sales, representing an entity is not so easy. That’s because the short sale lender wants to know who owns the entity in order to ascertain that this is not a fraudulent purchase, according to the short sale lender’s terms and conditions. In fact, some short sale investors/note holders are so concerned about entities purchasing short sales that they have created guidelines that prohibit such a purchase. 
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