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All Forum Posts by: Chris G.

Chris G. has started 11 posts and replied 121 times.

Post: Wells Fargo Short Sale Addendum

Chris G.Posted
  • Real Estate Investor
  • NowWhere, WI
  • Posts 135
  • Votes 25
Originally posted by Alex Locklear:
I just called wells and think cleared everything up.

The person I spoke with said the "flipping" verbage was to insure the seller (person short selling) wasn't going to turn around and make a profit some how on the property they were having to short sale...


Awesome, now to just get that cleared up so you can get your title company on board.

Good luck!

Post: Wells Fargo Short Sale Addendum

Chris G.Posted
  • Real Estate Investor
  • NowWhere, WI
  • Posts 135
  • Votes 25
Originally posted by Alex Locklear:
The negotiator just emailed me with the following response:

"if you are doing one of the items that is restricted then the shortsale cannot be completed but if not then the shortsale addendum has to be signed accordingly. thanks"


Hmmm. That doesn't seem like it really clarified anything.

Post: Getting around B of A's 30 day hold

Chris G.Posted
  • Real Estate Investor
  • NowWhere, WI
  • Posts 135
  • Votes 25

I have talked to one investor that within the same month, one of his B of A approvals did not require the 30 day, while a second B of A approval did require.

Post: Short sale strucutre

Chris G.Posted
  • Real Estate Investor
  • NowWhere, WI
  • Posts 135
  • Votes 25

From my understanding it is frowned upon, if not illegal in some places, to be both the investor and the agent in the short sale flip.

Not that I have my RE license, but I have been told to pick to make money through either the commission, or the spread between the two sales. But never both.

Post: California Dual Agency???

Chris G.Posted
  • Real Estate Investor
  • NowWhere, WI
  • Posts 135
  • Votes 25

For you investors working with RE agents to bring you pre-screened seller leads, and then retail flipping those deals using agents, are you able to use that same agent that brought you the lead as your selling agent for a short sale flip?

I'm getting mixed responses from other sources as to whether dual agency transactions are okay or not...

If they are not okay in California, what you doing to get around it? Using a dedicated selling agent?

Post: New member in southern California

Chris G.Posted
  • Real Estate Investor
  • NowWhere, WI
  • Posts 135
  • Votes 25

Welcome. Glad to have you on board.

Post: A to B agent commissions confusion

Chris G.Posted
  • Real Estate Investor
  • NowWhere, WI
  • Posts 135
  • Votes 25

Awesome reply Nick and Carla.

Post: Dear Short Sale Gurus

Chris G.Posted
  • Real Estate Investor
  • NowWhere, WI
  • Posts 135
  • Votes 25
Originally posted by motiv8td:
...While you're pretending to live the high life or getting crazy hair cuts...



Hmmmm... I wonder who this might apply to... hehe. :wink:

Post: Direct Marketing results

Chris G.Posted
  • Real Estate Investor
  • NowWhere, WI
  • Posts 135
  • Votes 25

You can also get absentee owner listings from title companies. My title agent referred me to her office's sales manager, and she said she can provide me with any type of list I want, for free.

Post: Transactional Funding for Short Sales & REO Properties

Chris G.Posted
  • Real Estate Investor
  • NowWhere, WI
  • Posts 135
  • Votes 25
Originally posted by Dan Koch:
Before you go and pick a transactional lender ask your title company if they recommend anyone. I have used a few national companies that charged me 2 points plus a $495 application fee. My title company recommended a local guy who was willing to lend for 1% and no application fee.

It might be far fetched but def worth asking!


Good advice.