What language to use on form 34 for short sale?

Question

Just wondering the language I should use to let the seller know that after they sign a blank copy of the purchase and sale, that the price offer will be modified several times without there consultation. Also that any offer is subject to lenders acceptance of short sale.  
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is there anyone else that has something more to add please?

Account Closed · Answer

This sounds like claiming to the judge that you know others in the office are speeding so it must be legal.

Honest judge. How else could I get there in time if I did not break the law. It would not be convenient to stick to the law.

After the judge rules that the defense has failed to make their case you will have more time to study REI to understand how legal deals get done.

Oh, if the contract was not filled in when they signed the seller can easily have the transaction reversed and then sell directly to the buyer without you.

Read up on Power Of Attorney as a starting point.

John Corey

PS. What sort of office do you work in? The WA state Attorneys General might want to visit and have a lunch time chat as to the powers of the AG's office.

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What about power of attorney? Can you lead me in the right direction, where can I find some articles relating to how to use power of attorney in pre-foreclosure deals?

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I did a search for power of attorney and coincidentally pulled up this article;

What are the steps to a successful short sale?

Meet with the homeowner who needs help.

Explain what a Short Sale is and how it works.

Explain that this is a "best efforts" attempt (we can't force the bank to "short sale").

Arrange for the homeowner to fill out and sign with his/her spouse a "Short Sale Package" including an Authorization Form to Release information.

In that package should be two contracts both signed : one with the amount you intend to offer the bank and the second one blank since negotiations will be on going.

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I dont know what your state laws are, but I live in Washington. I have many investors in my office that are experts in the pre-foreclosure field and they do this all the time. Unfortunately they dont share the specifics on how they do things. Its very hard top get a hold of people that are getting divorced, or in distress and if you need to re-write your offer to a bank quickly depending on your client to be accountable; would be like counting on a four year old to clean up there mess.  Basically I dont think its fraudulent, to re-write offers as long as a blank addendum states that you will be doing so, and the seller signs that form(form 34).

so in short, this is why it needs to be done.

Account Closed · Answer

Depending on how you put it the contract is either void (not enforceable) or you are committing fraud (jail time if they come after you).

A contract is not a contract if things are filled in after the signatures. The signatures are to mean that the person signing agrees to what is written.

Do not even try to go down the route of a blank P&S agreement. If it goes to court no only will you have problems with the individual transaction a history of doing this will make you look really bad to the judge.

John Corey

PS. State what you want to accomplish so we can try to offer suggestions. It is not clear to me what you think you can do when you use a blank P&S pre-signed.