Deborah Weiss
  • Colts Neck, NJ
  • United States
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Sellers Concessions

Started this discussion. Last reply by Vanessa Calhoun Mar 13, 2011. 11 Replies

Im getting alot of requests from buyers of shorts sales who are applying for FHA loans and need the sellers concession in order to close.  In a verbal from BOA, they claim if the orginating  loan is…Continue

 

Deborah Weiss's Page

Profile Information

Occupation
Realtor
Areas You Service (be VERY specific specific and include ALL counties, cities, states, and towns you service!)
Monmouth and Ocean Counties , New Jersey
Website
http://www.ShortSaleSpecialistNJ.com
Short Sale Designations and/or Special Training
SFR (Short Sales and Foreclosures Resource), Equator Certified
Short Sale Transactions Completed
10-25
Do you have any experience in Commercial Real Estate? If so, do you have the CCIM or any commercial designations? How many commercial transactions and dollar volume have you CLOSED?
NO
About Me/Profile of yourself: - Please add your Brokerage Company name also!
Broker Associate with Critelli & Kilbride REaltors in Holmdel, NJ.
Put in todays date! This is to help stop spammers!
September 19, 2010
PLEASE READ THIS!!! - This site is primarily for Realtors, REAL buyers or sellers with questions are welcome to ask, anyone here for other purposes may be banned. 1. Because this site is primarily for agents agents, Any soliciting is pointless and is not allowed. Please do not sell or promote products or services in any way, directly or indirectly. Do not link or sneak in links promoting your services on comments, posts, discussions or blogs. You may have links on your profile pages to your websites as long as your are not selling things other than real estate! Again, absolutely no outgoing links to your websites, blogs or listings 2. Do not speak disparagingly about members on this site. This community is meant to be helpful, and we are here to help each other. 3. We reserve the right to delete content and/or ban members that violate these rules. 4. Member Name (Full Name Field) format must be FIRST NAME, then LAST NAME! Please no company names, DESIGNATIONS, or website in the name field! Please read the terms of service under the "home" tab! IF YOU AGREE TO THESE TERMS, PLEASE TYPE "I AGREE" IN THE BOX BELOW!! Thanks for your cooperation, and welcome to the Network!
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At 6:24pm on December 10, 2011, Lisa Compean said…

- In Illinois tampering with the BPO is a fraudulent activity that gets reported to the BPO Management companies and can undermine everything you're trying to do for the client. Discussing/steering value is one thing. Pointing out contractor statements for structural issues that can be documented another. Not allowing the BPO agent to complete the 3rd party "independent" opinion of value evaluation -well, this is what the mgmt. co's. have to say about this.  This is from EML's BPO site and others have increasingly made BPO agents sign and report any indications of what you've mentioned or face being involved in collusion with you.  If you don't know how to do BPO's another referral resource on completing them is NABPOP's guidelines book.  For those that feel they know how to do them but aren't "trained,"  and want to be on top of it.

A better option, from my perspective is to counter the BPO value after it comes out by doing your own when you list it and creating a list of problems accompanied with a contractors estimate to fix or your best guesstimate (since you'll have to pay to get a contractor to the house and waste his time so you can make money) and again when it get's the official BPO which should be accompanied by your buyer's inspection results, (actually, if you're on top of this-you should get the inspection off the table 1st), so you can help the negotiator with a final decision based on seen and unseen flaws without getting into this collusion issue.  Being put on the do not work with list with the lender will hurt your chances of working, believe me.  Please check what your state's rules are on this issue.  Here, it's a real problem.

At 1:41pm on February 04, 2011, Mike Linkenauger gave Deborah Weiss a gift
 
 
 


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