HELP !!!!! FAST PLEASE!
I have a short sale in progress. The owner called me up and said the realtor he had is wanting to do the same as I am doing and told the seller that he has a buyer for alot more than I offered the bank. The seller said the realtor has talked to the banks and got information. Even though the Seller told me he did not give the realtor a LOA I believe he did.
I have a Warranty Deed to Trustee signed by the seller and a Purchase contract. I want to record these to stop anybody from snaking this from me.
What do I do?
I am in Pasco County Florida.
Thank You
There are a couple of schools of thought.
You could call the Homeowner and say, "Terrific! Because we want this to be the best, possible result for you. If the real estate pro (you don't indicate if he/she is a broker, or broker's agent) can help, great. Let's all sit down and see how we can best resolve this...."
My guess is that the broker, or broker's agent is puffing wind, trying to get a listing, &/or the Seller feels that his/her deal with you isn't the best it can be.... and is trying to play one against the other hoping to get the best possible deal.
The other school of thought would be to play hardball... claiming that you have a deed (recording that deed might invalidate any chance at a mortgagee approved short sale)... and offer to pay the real estate broker/broker's agent a commission on the sale to HIS or HER buyer.... and keep the spread.[ Edited by TheShortSalePro on Date 05/20/2004 ]
I told the seller that if the offer that I sent in to mtg #1 comes back with a counter that is more than I am willing to pay then I would be happy to sit down with the broker.
Second, the seller is saying that the broker had already called all the banks and #1 told him to get a LOA and send in a HUD 1, and #2 and #3 said my offer was not going to fly. I feel that this "snake in the dirt realtor, broker, they're all the same" told the banks that he would offer x amount over what I offer.
I am really fuming about this whole deal. The seller just called me back and said he talked to bank #1 and confirmed what I had told him, thats good, he knows I am not blowing smoke. He thought it would take a week or so, It has been 4 and the broker states he could have it done in a week.
Well NO CRAP!! I already ALL the work.
So SSP, Do not record? Bank #1 said they will be back in touch with an acceptance or a counter by next week. The appraisal was done last Thursday.
Thank you so much for your advice.
Tell the seller that you made an agreement and you expect him to stick by his agreement. You have a signed P& S contract. Call the realtor and tell him that you have a signed P& S contract. As a reator, did he want to risk losing his license because you would report him. Remind the seller that he is not getting the profits of the sell so why would he want to negotiate to give the bank more money. What has the bank done for him.
Brenda
Yes, Reprincess
As Brenda says, the bank is getting the money, NOT the seller, & they have made an agreement with you! Tell the old realtor to BACK OFF, the seller does not have to and should not give them an authorization to release info. (Just what did that realtor do for them anyways or the bank for that matter?)
Kelly
[ Edited by knucs on Date 05/20/2004 ][ Edited by knucs on Date 05/20/2004 ]