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Updated about 12 years ago on . Most recent reply

Account Closed
  • Investor
  • Central Valley, CA
3,729
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Need Short Sale Negotiator Service in CA

Account Closed
  • Investor
  • Central Valley, CA
Posted

I get calls from sellers that I can convert to short sale leads but I don't want to work short sales. Monica Breckenridge mentioned in another thread that title companies negotiate short sales. Both Chicago and Fidelity title companies are telling me they don't offer that service in CA. Any suggestions for a service that I can work with? I'm also open to referring the leads to someone and getting paid if they close.

Most Popular Reply

Account Closed
  • Investor
  • Central Valley, CA
3,729
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6,037
Posts
Account Closed
  • Investor
  • Central Valley, CA
Replied
Originally posted by Sandy Blanton:
Folks, a short sale can't be done without a broker. There is no such thing as a buyer and seller processing a short sale without a broker. An attorney can't do them either, although some attorneys process short sales and charge the lender for the service, they do so after it's listed with a broker.

This is the kind of thing that gives agents a bad name: using opinions formed from their experience (and NAR propaganda) to make statements that aren't factual. There are no federal or state rules that dictate a short sale has to involve an agent. That's the kool aid talking.

There are all kinds of short sales processed between buyer and seller and lender, done without the involvement of an agent and a listing. Just because you haven't seen them doesn't mean they don't happen. Short sales/short pays are negotiable between the lender and borrower. Just think of all the private lenders that have allowed short sales and discounted payoffs on seller carrybacks. Many lenders do not require a listing or agent to help them form an educated decision to discount the loan and allow the borrower to sell for less than owed. Think about the non-performing paper that gets bought in order to facilitate a short sale. Think of all the commercial and land loans that are short-sold that you probably don't know the first thing about. Think, man. Think.

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