All Forum Posts by: Alex S.

I am on the verge of an offer on a SS property in Northern California.  I think the property is worth $465K, but the listing agent already has an approved short sale from a previous buyer that walked out at $475K.  So, obviously he wants me to pay the $475K and be done with it.  He says we'll hear from the bank in 20 days and then close 45 days after that.

I am not an agent and I don't have an agent representing me.  Can I ask the listing agent to take 3% and act as a dual agent?  Thereby saving the other 3% of the commission.

Maybe I'm wrong, but it seems like there are far less conflicts of interest with a dual agent on a short sale than on a traditional home sale.

That would get the price down below $465K, the agent gets a solid buyer, and the bank/lien holders would still get the exact same amount they previously negotiated at $475K. Right?

2nd question: 

Does California allow you to cancel a short sale contract and keep your earnest money?

You folks on this forum are awesome...no no really, there isn't any place on the internet quite as helpful as BP and I learn so much by reading. Thank you!

I'm working on doing my due diligence and fully understanding the risks of purchasing a tax deed sale in California before I bid.  I'm not sure I understand what happens after you win the auction and get a tax deed if the previous owner still lives there. 

Do y'all have any techniques or methods you use for evicting previous owners that lost their property?  Do you just call the police?

I'm not sure that I have the stomach or ethics for kicking grandma out on the street and maybe need a different investment vehicle if that's part of tax deed sales. 

Thanks for your thoughts, I've learned so much from this community already!