Not Every Nationstar Short Involves an Auction

By
Real Estate Agent with RE/MAX Gold DRE #00697006

The biggest problem with Nationstar short sales is they don't seem to want to participate in the HAFA short sale program, and probably the reason they don't do it is because they can make a lot more money by doing the auction scenario. I mean, they have to make money from the auction. They own the auction company, and they charge an additional 5% to the buyer, providing the buyer is not the original buyer presently in contract.

I can honestly say I have never really completed a Nationstar short sale auction because nobody outside of the transaction has ever submitted a bid that was accepted during the auction process, and the one time a bid won the auction, it was our original buyer who had submitted the winning bid, and then he canceled anyway so we had to start over.

However, not every Nationstar short sale is allowed to go to the auction process. You can read more about how this works in my personal blog today at this link: How a Nationstar Short Sale With Freddie Mac Closed After 6 Months.

Posted by

elizabeth weintraub

 

 

Weintraub and Wallace Realtors

 

 

Elizabeth Weintraub reviews

 

 

 

Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

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Topic:
ActiveRain Community
Location:
California Sacramento County Sacramento
Groups:
Northern California Real Estate Professionals
California Short Sales, REO's, and Foreclosures
Short Sale Specialists & Pre-Foreclosure Education
Short Sales Specialists
Lyon Realtors
Tags:
nationstar short sale
nationstar auction

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Rainer
230,468
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

i am sorry, i dislike auctions. i dont like having them held, i dont like attending, and i dont like anything about the process. i know it can work. it also works to stand at the corner of watt and fair oaks and hold a sign saying realtor will work for food...but i wouldnt do that either... (it wud say i work for oreos)

Oct 28, 2015 03:55 AM #1
Ambassador
3,084,895
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

I've got two Short Sales with NationStar right now. One is all about the auction.  The other is easy, peasy and under review.

Oct 28, 2015 07:33 AM #2
Rainmaker
2,888,126
James Dray
Fathom Realty - Rogers, AR
Exceptional Agents, Outstanding Results

Good morning Elizabeth.  There is no link to your post today so I could not read it.  Only been involved in one auction.  I was there just to make sure all the paperwork was filled out correctly.

Oct 28, 2015 08:15 PM #3
Rainmaker
2,250,039
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Elizabeth. I have purchased a number of properties at auction, but also as short sales. For me, it doesn't matter, as long as I get the property that I want, but many of my clients have been on the short end of a short sale.

Oct 28, 2015 09:01 PM #4
Rainer
1,756,848
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Elizabeth.  I like to purchase homes at auctions.  There was no link today.

Oct 28, 2015 09:16 PM #5
Rainmaker
4,066,666
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Elizabeth, having no experience with short sales, this is foreign territory for me.   We do not see many auctions here.

Oct 28, 2015 10:37 PM #6
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