All Forum Posts by: Herm M.

You're not making sense at all.

If the loan balance is 15k, then this is not a short sale.

If the ARV is 115k, and the repairs are 50k, that puts the current value at 65k.

If the property is THAT bad, then let's cut that 65k in half, and say it's worth 32.5k.

That STILL leaves the LTV at under 50%.

I don't think you understand what a short sale is.

Part of WaMu's docs includes a 4506 form. Are other lenders requesting this form also?

^Thanks. Did you send them the first time you sent the complete package?

Or did the package get to a negotiator, and then the negotiator requested those forms?

I would like to see some feedback on this topic as well...

When doing WaMu short sales, did you guys use the official forms from Chase.com for the financial information?

Or were you successful using your own forms?

MOE...do you use that same addendum even if the subject property is listed with an agent?

So is anybody getting approvals from BofA these days? They are taking FOREVER on our deals...

Those that are flipping in Cali, are you using the option contract? Or standard CAR forms like the NOD Purchase Agreement?

I was just wondering...if there is an OPTION recorded for X investor, will the short sale lender be more likely to approve a short sale because they know that the sale has to go through the option holder?

Umm i would say that the listing agent and investor are working together.

The listing agent has given the investor the priority be first in position to buy the house (they are working together).

They are negotiating with the short-sale lender on the lowest price possible.

Meanwhile, the listing agent is looking for the highest offer possible (that's why he's asking you to up your offer), so that they make more money on the flip.

That is what's going on.

Or the investor has an option on the property.

Here's what I do:

We have two realtors and an investor.

I will list on the A-B, and bring in the buyer (my cousin) on the A-B.

Realtor B will list on the B-C.