Wholesaler · Bay Shore, NY · Member since 2009 · 359 posts · 199 votes
Has any investor ever been questioned by the lender about what their role is is the short sale? Clearly I'm an investor who submitted the authorization to release form. Sometimes one of the phone reps will ask "Are you the realtor"? or " Are you the attorney"? I always just say "I'm helping out the homeowner". Has anyone EVER revealed or been asked if they are the investor? I would never say that I am but I'm just wondering about different responses to use if it ever should arise.
Rehabber · Glen Allen, VA · Member since 2008 · 45 posts · 28 votes
15y
Upfront you need to have the realtor understand that all calls should be coming to you from the lender. At that point if asked by the lender you need to advise them that you are simply the negotiator the realtor has hired to assist in the progression of the file.
Rehabber · Glen Allen, VA · Member since 2008 · 45 posts · 28 votes
15y
Upfront you need to have the realtor understand that all calls should be coming to you from the lender. At that point if asked by the lender you need to advise them that you are simply the negotiator the realtor has hired to assist in the progression of the file.
Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
15y
{Hope you don't mind me budding in Michael}
@ Chris - As the negotiator are you ever asked by the lender to sign anything stating that you have no affiliation with the buyer? I buy using my LLC's. So technically if I was asked if I was the buyer, a "no" wouldn't necessarily be incorrect. However, if I was asked if I am affiliated with the buyer well.......
Residential Real Estate Agent · Chandler, AZ · Member since 2009 · 1k+ posts · 928 votes
15y
I used to say I was the buyer, but I have not done one in a while. I also never had agents involved, so they never expected the agent to call. My contracts clearly said I was an investor and intend to make a profit.