All Forum Posts by: Sidney Kutchuk

I own a property management firm in Riverside CA. I'm trying to retire and thinking about selling my business of 130 doors all single family homes at 2 x yearly gross. Anyone interested?  Established in 1999 and yearly gross is $154,000  

John,
I get emails weekly from services wanting to also take over the tasks of getting my short sales to approval. I have hired and trained a TC (Transaction Coordinator) to mosts of the tasks for me and I jump in only when really needed. 

I prefer to work with the larger banks that process the short sales via the Equator Platform.
That helps keep all parties accountable and the system is all task driven.

Hi Ray,

I would answer NO,but I have never tried.

Short sale are hard enought to get approved jumping thru all the processors hoops I think that an assignment would be a reason to reject the short sale package.

My short sale listings took a nose dive last year and the ones I had were some of the hardest to get to approval. This year I have noticed an uptick in calls and short sale listing and the ones I have in my pipeline seem to be easier to work with.

What are you seeing? I'm in Southern Cailf. 

Thanks Joshua.

I have a Plus account and need to start a second blog.
Is it possible or do I have to have two accounts to have two blogs?

Seller's know way in advance before a sale/foreclosure date is set.

To get a call from them a week before the foreclosure date is almost certain doom. They have put they head in the sand to long. You will hear from some agents,myself included that we have stopped the foreclosure and we can. In most of these cases we are just used to delay the foreclosure.

As in any industry there are good and bad people.

A good short sale agent will price the property at a price that the lenders will gladly accept. The problem is a shortage of good short sale agents.

Not sure about your market,but here in Southern CA the market does not have good enough margins to flip on short sales. The banks have stopped giving them away and are asking and getting full market value. Good short sale agents are able to sell these homes,providing a service for the seller's and earning a 6% commission.