All Forum Posts by: Sidney Kutchuk

Yes,to get paid a commission by the banks you need to be a Realtor or Lawyer.

If you have a real estate licence use this as an opportunity to break into short sales. It sounds like a slam dunk and you should be able to double end the deal and earn a great commission.

I manage many homes in this price range and find them as easy if not easier to manage than the lower cost properties we manage. Landlords in the higher end are more open to keeping thier properties in top shape and I find them and the tenants a breeze to work with.

We have have a few short sales this year where the approvals took so long that by the time the approvals were ready the market corrected and the properties were no longer short.

Our market ( S.Calif ) is recovering fast and the need for short sales now are much fewer but still an option for some sellers.

I believe that the short sale would be the best solution but you should also pitch a loan mod first. I have seen very few loan mods work out for homeowners. It need eds to be the homeowners choice as to which way to go. If the want to try to do a loan mod just step back and let them deal direct with the lender. If they want a fresh start and out of the mortgage then step in and help them through a short sale.

We went through the onboarding process with Propertyware about 5 months ago. I did not go through the training and in hindsight should have. We did received a discount but do not remember the details.

This is a very good program and after 5 months working with it we are happy we made the leap to it. Without their great phone support we would not have made it through the transition.

Be very aware of their E payment system. Unless you go through their top tier underwriting your funds will take 5 days to land in your account.

I am in Calif and this can not happen here.

I believe what you're facing is that the 2nd did release their lien on the property so that the sale could close.But it sounds like they reserved the right to go after the seller's. Pull out the short sale approval letter and read it again to check what the release instructions were.

Once the BK is discharged the banks can continue to foreclose or short sale.
If a sale date is not yet set you have a good chance to get a short sale approved.