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There have been plenty written lately about short sales, and in particular, Realtors entering that market to help sellers who are handcuffed by financial binds. Of course, the other side of the coin is the folks who are buying short sales. Is there opportunity for Realtors...
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The first time tax credit is gone, the markets are jumpy, summer’s here but no one is “dancing in the streets.” It’s as if everyone is distracted with volcanic ash clouds, oil spills, wishy-washy politicians and the European debt crisis, and –let’s face it---that is an awful lot to...
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Whether or not you have ever completed a short sale, you are painfully aware that it is a different kind of transaction. First question: “Have you thoroughly INTERVIEWED your “Expectant” short sale buyer” to be sure they suit the role of such a buyer? If not, better back up. Living...
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I hear agents at my training and seminars sessions all the time telling me that they get so close to a short sale approval and suddenly it is declined, because the seller got a no doc loan and they have no idea why. Well let me tell you why:A no documentation loan is one of many red flags a...
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Get ‘Em Listed and Roll in the Dough….It happens every time I teach a class (and I just had an (FIS) class in Charleston last week). Several of my students will get all fired up about becoming a listing agent handling REO’s as the fast track to real estate success. Even though the class is...
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If you’re not telling your clients to get owner’s title insurance on purchases—especially foreclosures—you could be opeining yourself up for some liability.In today’s market, foreclosures are very prominent—and they come with a lot of potential issues. Owner’s title insurance is a...
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A lot of agents ask me what the easiest way is to get REO listings in their area.The answer is simple - from your local bank. How do you do this? There are couple of different ways and I’d like to tell you about what I've done to make me successful with...
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I am mentoring, training and teaching agents on a regular basis how to perform short sales correctly and almost always agents I have talked to never perform one of the most important steps before even starting a short sale... Sending the client to a qualified CPA/accountant who is versed on short...
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I'd like to share a few recent experiences I have had with both my fellow agents and consumers who have been involved in short sales.I have come across more than a few companies that claim to be “experts” in short sale negotiations, only to find that not only is the information...
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Agents involved in foreclosures and short sales may need to begin to disclose the possibility of serious defects in title associated with these types of lender controlled sales. If recent court decisions are any indication, we are headed for an explosion of litigation in this area. And...
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