Questions about negotiator

[Fred Forgione]

I am new to the forum so would like to take the time in my first post and thank everyone for sharing their experiences. I have contacted a real estate agent in NY and he has a large amount of short sales but has told me a few things which I have never heard of before.

1) First he has claimed that the banks will not negotiate the SS file with anyone except for a Realtor, lawyer, or ho which I know to be true for California and Florida. Is there any truth to that?

2) Second he has tried to convince me that it is not possible to do a double closing in NY due to the chain of title regulations and that the bank will not let this happen. (I am not referring to BoA line 10 or anything like that)

3) Lastly he claimed that my option contract was illegal and would not be recognized by both the banks and the title companies?

With all that being said I have been negotiating and successfully closing SS in NJ for 2 years now and have run into certain instances where 2 occurs and the deal falls apart. I have run into three in the context of the option contract not being recognized as the bank required I be the "Owner of Record". 1 I have never had a problem with.
If anyone could offer some clarification it would be appreciated as I would like to start doing some NY deals as well as NJ.

[Nick J.]

Originally posted by Fred Forgione:

I am new to the forum so would like to take the time in my first post and thank everyone for sharing their experiences. I have contacted a real estate agent in NY and he has a large amount of short sales but has told me a few things which I have never heard of before.

1) First he has claimed that the banks will not negotiate the SS file with anyone except for a Realtor, lawyer, or ho which I know to be true for California and Florida. Is there any truth to that?

2) Second he has tried to convince me that it is not possible to do a double closing in NY due to the chain of title regulations and that the bank will not let this happen. (I am not referring to BoA line 10 or anything like that)

3) Lastly he claimed that my option contract was illegal and would not be recognized by both the banks and the title companies?

With all that being said I have been negotiating and successfully closing SS in NJ for 2 years now and have run into certain instances where 2 occurs and the deal falls apart. I have run into three in the context of the option contract not being recognized as the bank required I be the "Owner of Record". 1 I have never had a problem with.
If anyone could offer some clarification it would be appreciated as I would like to start doing some NY deals as well as NJ.

1) He's an idiot. Tell him I said so or gimme his number and listen to me tell him he's an idiot.

2) possible, but based on #1, I'd say he's still an idiot and doesn't have a clue. Since I'm not doing any business in NY, I couldn't actually verify his level stupidity.

3) option contracts are not illegal. Some banks do refuse to allow them but it is what it is. I personally use state approved realtor contracts but I do them a little different than a lot of people.


If you're looking for someone to negotiate your shorts for you, the last thing you want to do is consider an agent to do it for you. Find (and there are a few excellent ones right here on BP) a real negotiator to handle it for you as an investor.

lastly, excuse my tone, I'm tweaked out on Rockstar :) my drug of choice these days.