Ken Crotts
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  • Maple Valley, WA
  • United States
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Ken Crotts's Discussions

Posk Bankruptcy GMAC 2nd refusing to sign off

Started this discussion. Last reply by Ken Crotts Oct 26, 2010. 5 Replies

I have a deal where the seller/borrower has a discharged bankruptcy, B of A has approved the short in writing, but GMAC 2nd (discharged) is refusing to sign off. They are recieving $3,000 from the…Continue

Greentree policy now is to demand 5% of purchase price

Started this discussion. Last reply by Ethan Gregory Apr 30, 2010. 10 Replies

I've only been doing short sales for a couple of years but have noticed a disturbing trend as of late. When I started doing shorts the 2nd lien holders were typically getting 10% of their balance…Continue

Tags: Maple, Valley, Issaquah, Renton, Sale


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Profile Information

Real Estate Broker
Areas You Service (be VERY specific specific and include ALL counties, cities, states, and towns you service!)
Washington State, King County, Bellevue, Newcastle, Issaquah, Maple Valley, North Bend, Snoqualmie, Maple Valley, Renton, Ravensdale, Covington, Kent, Auburn, Black Diamond, Enumclaw, Seattle, Desmoines, Burien, Federal Way
Short Sale Transactions Completed
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!
Certified Short Sale Specialist currently carrying 17 actives, 16 pending, and 22 closed (6 mo) with the vast majority being short sales. I have my own team of closers, negotiators, title, and escrow all woring to close short sale deals.
Put in todays date! This is to help stop spammers!
January 26, 2012
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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Ken Crotts's Blog

UCC2 Liens Taking Priority over Mortgage Deed of Trust

Posted on February 14, 2012 at 9:00pm 2 Comments

I have a short sale in process with Wells Fargo. Shortly after listing the property and getting an offer we discovered that the Seller had had new siding installed on the house after buying the home. They are in default on the loan payment to the bank who funded the siding installation which is not uncommon.

What is not common is that lender saying tat the lien on the property is a UCC2 lien and that it will take precedence over the Wells Fargo lien even though Wells Fargo was filed…


Getting Leverage in Short Sale Negotiations

Posted on May 17, 2010 at 1:09pm 3 Comments

Short sale negotiations, as we are doing them now, consist of collecting a complete short sale application and an offer and then working through the bank to get them to agree to accept less than they are owed so the contract can close. The presumptive position in the negotiation inherently disadvantages the agent/negotiator as they are asking for a tangible discount by providing evidence that the lender will be better off in the long run based on subjective evidence of value (BPO).



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