"We don't really care for this "pre-approval program" with BofA. Yes, there is an incentive to the homeowner but we feel there are many downsides. 1. THEY pick your list price and it takes them awhile to do that so…"
"I believe they are a servicing company for Wells but the loan would be under ASC, not Wells. If the mortgage statement says "Wells" you don't deal with ASC. They charge 1% on all short sales (max of $5,000) so make…"
"My experience is more like Sheryl's. We have a short sale right now and the file was assigned to a negotiator a month ago. When several voice mails to her went unanswered (straight to voice mail) I called the Executive Office. …"
"It sounds like everyone is having the same problem we're having.....files that are supposed to be untagged from HAFA still not going anywhere because they are still showing in HAFA, lost documents, files shut down for no apparent reason…"
"Just have 877.304.3100 as the phone number. They are slow but we've always gotten a response, although it's been awhile since we had one with them. I hope you built in an extra 1% to give to them-they always want 1% of the…"
"Someone who is organized and can learn your system (assuming you have one) would be key.
In CA you have to be a licensed agent in order to talk with the lender so a licensed agent struggling in this market would be a good candidate.
"The 2nd commonly cuts commissions to 5%. We even had a Wells Fargo HELOC department recently tell us they wanted us to go down to 4% and we said "No way. We've closed hundreds of WF/WF short sales and have never had to go lower…"
"Getting a Trustee Sale postponed with a Fannie or Freddie loan is actually tougher than if it weren't, especially if you don't have an offer yet. We just got one postponed in CA a week before the sale because we were able to fax them…"
"Yes. Whenever you get an AHMSI transaction, be prepared for them to take 1% (up to $5,000) as a fee. This can come from any source-we usually negotiate up front for the buyer to pay it since we know we will ALWAYS see this fee with AHMSI."
"Our experience is that PNC will take one amount to allow the short sale and keep deficiency rights and a much higher amount to release the lien. If they ever just give you one number, ask them what the 2nd number is. We have PNC on a…"
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?
About Me/Profile of yourself: - Please add your Brokerage Company name also!
We specialize in short sales. We handle our own short sale listings as well as helping realtors negotiate the short sale process so they can concentrate on the business of real estate. We work on transactions all over the state of California.
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May 20, 2010
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