All Forum Posts by: Cameron Novak

Sounds like you got hooked up with the wrong real estate broker. It doesn't sound as if he had much experience with the bank in question.

Not saying they won't divert from their guidelines, just what I'm hearing when in contact with the negotiators and investors. I'm sure there are many other factors involved.

Sorry for hijacking your thread earlier...

Joshua... still with the attacks? I'm just responding to Bryan's ridiculous statements.

Bryan - I didn't subscribe to this thread... How would I know someone asked me a question? There you go with the assumptions again. Saying, "difference between a cpu and a computer" is like saying "difference between an entree and a meal". Go play in your sandbox. Don't they have a "social network for agumentative people with nothing better to do" that you can sign up for?

Brian - Each bank has unique guidelines. Usually they're looking for something in the neighborhood of 70-85% of FMV after costs associated with the sale. Of course this can be different in areas with differing demand and/or substantial damage.

An agent/broker's obligation is to his/her client. With that said, I present all offers to my client and advise what I feel is the best course of action. The client makes the final decision on which offer will be accepted and submitted to the bank for consideration. Although behind (or not) in payments to the bank, the client is still the owner and has the decision whether or not to accept any offer submitted (subject to bank short sale approval of course). After a bit of experience dealing with lien holders, appraisals, % of fair market value acceptable, etc... I can safely determine which offers the bank WILL NOT CONSIDER (mainly to internal guidelines).

I agree with Joshua that agents that do their own bidding without consulting their clients are doing a disservice to that client.

California Civil Code 2373-2382

You might be surprised how inexpensive an LLC can be. Check into it.

Also... caution in acting on the advice of others... it could cost you your license.

I think you should save the 6% and stand out front of your home with a cardboard sign. Who needs a Realtor anyway.

Full Disclosure: I just told a friend who needed bypass surgery to fire his surgeon and take care of it himself. After all, there is a ton of liquid information on the internet regarding the topic.

If we're talking about <$55K, you definitely bought in the wrong location.

#1 Make sure your agent is a specialist in the area of the subject.
#2 Offer an obscene commission to the buyer's agent.
#3 Price the home reasonably.

Good Luck!

So how did things work out on your short sale?