All Forum Posts by: Brian Colbert

Hello Curtis and thank you.
Very simply in a nut shell I let them know I will come in with cash on the A-B. My contracts are written by a very high rate Real Estate Attorney who specializes in short sale transactions. I mention that we keep them with their client and use our agent on the B-C to keep conflict out of the equation. I offer them a full commission regardless of what the bank offers.
I require to be in charge of the negotiations with the lender. After signing all offers come to me.
Also I give the seller an out, if they find a buyer who will pay full price to satisfy their commitment I walk or if the lender demands a judgment against them if they want out I walk.

It seems to me in California at least it is hard to get an agent to take offers very seriously. With all the DRE hoopla Negative articles being published everyone is afraid to get involved :roll:
Regardless how you explain it as just business as usual it always comes down to this.
Its not legal to do, my license is on the line.
or
We have our own negotiators and they are great.
or
I have to look out for my clients, you guys want it for 60%.
I know it's not illegal to do.
I also know their negotiators are just offer submitters.
Your clients are better off selling without a judgment,
and the banks think a short is worth fair market value.

Any thoughts or advice. Almost to the point of not even trying. These agents are beyond forward thinkers.

Jim it all depends on what your goal is. If you are looking for long term hold, no doubt get refinanced. When the market turns around and rates are in the 6 area or worse you will be in hog heaven with a low 4 rate and appreciation back that we all lost.
If you just want to dump them and move on now is really not the best time for that, but you could get a low interest only loan for 7 years and sell then... There are a lot of options for you. Give me a shout

I thank you all and look forward to networking with you guys

Thank you guys for the welcome, I look forward to getting to know you guys better

Hello everyone thanks for having me. I am a relatively new investor I have great ideas and plans. Your threads are very helpful still looking for something to fit my plans. I have tried the short sales and wow was that hard to get anyone to listen :lol: Now looking for ways to sell property without buying it :roll: My experience is as a loan officer in California my niche is investors with multi properties. Look forward finely figuring this out.