All Forum Posts by: Sandy Blanton

Bill Gulley Brokers don't make interest on an escrow account. In Florida if the escrows are interest bearing, the broker has to compute and pay 75% of the interest earned to the owner of the funds. Paperwork nightmare, trust me no one is doing it unless they're holding million dollar deposits.

Dennis Tierney Lender held escrows for reserves makes a lot of sense. I'm sure it lessens the lender's exposure and helps keep apartment mortgages at lower rates.

K. Marie Poe I've closed dozens of short sales each year since we first learned the term. I'm certainly an out of the box thinker. I've never heard of a short sale being done w/o a real estate broker. Buying/selling mortgages has nothing to do with a short sale.

I'm not saying it's impossible. But the challenges I think of: arms-length affidavits, banks like to see MLS histories, copies of listing agreements. bpo's, etc. If a seller in Florida calls any major lender, they're told to list with a broker.

I'm not being combative, but as a very active CDPE Broker, I'd love to see any links/documents that show where a non broker done short sale has ever closed. Just curious.

Two excellent sites for mobile home/park deals: mobilehomesexpress.com, mobilehomeparkstore.com. IMO:)

J Scott You're right on!

To the poor bast*rd listing agent handling a $5,000 listing, that's a waste of energy unless you're collecting 100% of the sales price as a commission.

ENTREPRENEUR vs Real Estate Agent: the top agents are entrepreneurs. They are the creme of the crop and quite rare, but the best are ENTREPRENEURS by any definition. IMO:)

A total loss on an insured rental, so long as no personal injury, is a landlord's "dream, not a nightmare." I've had two rental where the tenant's kids burned them to the ground playing with matches. Paramount to me is that no one was hurt. The only negative to me was not having replacement cost insurance on the units but I made out tremendously financially.

I'm with the guy above, unless it can be proven the landlord had intention, there's no legal claim here. Renter's insurance would have covered the tenant's losses.

OMG...I can't imagine putting my cell number in an ad. You may want to consider an AVR system (automatic voice response) making the prospects go through a process offering information and jump through extra hoops before they have the option of reaching you directly. Or better yet, hire a professional property manager. IMO:)

Take the cheapest online course you can find. You'll move through the class in half of the time the course says it takes.

"External obsolescence" is the term, one guy used it above. I would call a local appraiser for their estimation. Pay them a fee to determine the market discount that'll be needed to cure the issue. OR, ideally, there are comps with the same problem you can use. Good luck.

Folks, a short sale can't be done without a broker. There is no such thing as a buyer and seller processing a short sale without a broker. An attorney can't do them either, although some attorneys process short sales and charge the lender for the service, they do so after it's listed with a broker.

Deshone Drummond DD, are you a real estate agent/broker or looking to purchase short sales as investment properties?