Is Selling The Short Sale To The Tenant An Arms Length Transaction?

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Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690

 

Good morning Superstars.

 

Here's a sampling of these week's Superstar discussions.

 

DiscussionsRepliesLatest Activity

Credit Repair Business Opportunity

Good morning Superstars. Today I want to talk a little bit about Credit Restoration. As many of you may know TLW and I went through a very…

Started by you

1 7 seconds ago
Reply by Bryant Tutas

Tenant's offer rejected based on "arms length" transaction definition

have a short sale where ASC is the first trust. The short sale property has been rented out and the tenant wants to buy it. ASC is saying…

Started by Lisa Jalufka

3 2 minutes ago
Reply by Bryant Tutas

Who owns the loan?

I am buying a short sale. The sellers agent and the company I am using seem to be very unhelpful. I do not even know who has the loan on th…

Started by Lauren

5 13 hours ago
Reply by Wayne Brooks

How Long?

I am buying a short sale and I have my mortgage on track, the inspection done, the deposit down and the offer in the hands of the bank. I r…

Started by Lauren

3 19 hours ago
Reply by Dirk Jeanis

Evaluating if you have enough time to short

How do you evaluate whether or not you have enough time to complete a short sale? For example... if a Seller calls you and the sale date is…

Started by Drew Ludlow

5 22 hours ago
Reply by Drew Ludlow

Updates on Fannie Mae & Freddie Mac Inflated Value Issues

Just looking for any input on others experiencing the Fannie & Freddie inflated value issues. Any recent updates or solutions? I have…

Started by Raymond Kennedy

47 yesterday
Reply by Dirk Jeanis
     

Freddie Mac denied PCS orders hardship; payments on time

My husband is active duty, we used the PCS orders hardship that came out in August 2012. Today, FM denied our short sale request based on…

Started by Darlene Parker

9 yesterday
Reply by Ron Scribner
     

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Ambassador
1,893,139
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Of course read the PCS order one and had to wonder if they bought their house before the HAP PCS deadline and missed an big oppotunity to sell.

Jun 22, 2013 10:24 PM #1
Rainmaker
1,515,897
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

Interetsing discussions here. I don't get to your web site often so I appreciate the updates and links.

Jun 23, 2013 12:11 AM #2
Rainmaker
1,022,871
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

The tenant does have a financial interest in the property to some degree so it is at least questionable about the arm's length of the transaction.

Jun 23, 2013 01:07 AM #3
Rainmaker
94,433
Roger Stensland
Keller Williams Realty Puget Sound - Maple Valley, WA
Let's Move!

The only time I know of that the tenant wanted to purchase a home he had been renting for 3 years, he was denied by the bank because the bank said that it wasn't an arms-length transaction.  The seller had to move with his job and that was the only reason for selling, but the bank still wouldn't approve the deal.

Jun 23, 2013 02:26 AM #4
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Bryant Tutas

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