All Forum Posts by: Mike Miller

 Okay. Yeah as long as there's not an offer with it. That makes sense.

(Not to get off-topic, but your "rant" is exactly how I felt. The agent was being a jerk, and a terrible agent to his client. He claimed he didn't want to waste his time with non serious buyers. Even though he was blowing off a serious potential buyer, over 10 minutes of his time.  It was just a simple fixer upper too. I tried contacting the agent on behalf of the wholesaler to inquire, and he texted me "Got my Proof of Funds yet?")

I do not have the intention of this, it simply came up in a conversation with a new wholesaler. I also am not referring to POF "Letters", I am aware of how those work. Just would like fellow agents/investors opinions on this.

An agent is requesting a copy of your bank statement before allowing you to view a property, just a basic viewing. If you altered the statement digitally to show more funds, and faxed it over to the agent, is it technically violating any law? As you are NOT yet doing any transaction or business. It simply was to view a property. Thus, is it nothing more than a photoshopped image in that scenario?

Hmm, interesting. I dont know if that exists in California. 

Even if it doesn't exist in CA, as absurd as it sounds since it's now my property, and the seller got a good amount for it, Im afraid they may claim I misled them in order to convince them to sell, and they wouldn't have otherwise sold to me. Turns into some civil court mess, maybe not though.....

I was talking with an owner, I will not end up buying from him for the record. But initially he said he doesn't want to sell to a developer who is going to alter the house or tear it down. I told him I am not a developer and it's for myself. (I wouldn't consider myself a developer, just a private investor. Obviously a matter of opinion.)

Anyways, but I am sort of bending the truth about my intentions with the home, I'd like to do major work and just resell it. So if I did successfully buy it, and the owner spotted it on the market a year later torn down or altered, can he sue me for lying about my intentions? For Duping/misleading? 

Thanks

@Chris: Nothing in writing, we were just orally discussing it. So it's not like I have any right to complain. Just was curious of the status, because I was highly interested and it was actually listed, so it seems like he had the right to sell it. But now it's just been sitting for 6 months. 

@Jay: Well it was on the MLS for quite a while, but then taken off, the status did not change to sold or pending. The agent that listed it, just said "his lawyer is handling everything now". Which is odd, because then why did the agent list it in the first place if he's going to do the sale off market and not give her a commission?   I just find it all odd, can't figure out what's going on.

If a property is pending, will anything show up at the assessors office, or anywhere I can access, to verify if it's pending or say a preliminary unconfirmed contract/proposal, etc...? Somehow reach the lender directly maybe?

This guy backed out last minute on selling his lots to me, saying he got a higher offer. But that was 6 months ago, and just this week he told me the sale is still pending, that the potential buyer and his lender are working it out. Is there a way I could confirm if there really is some negotiation/pending sale going on, and he's not just stalling/dodging me?  6 months seems very long.

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So I found out from the homeowner, the way he's managed to do this since 2009, is requesting a loan modification. That's all he provided, and said he's gotten really good at doing it, and it force it to be postponed. 

I stopped by the county assessors office, and when looking at these Notice of Defaults he's gotten over the years, something really strange (at least to me) came up, maybe it's common, not sure. The "unpaid balance" listed on the NOD, has increased each NOD over the past 7 years, even though it's the SAME loan from Washington Mutual he took out in 2007, same loan number. Is this because of penalties? It went from $990K in 2009, to $1.1M in 2012, to $1,556,000 in the most recent NOD of 2016. How can the unpaid amount go up by 50% when the original loan was only for $990k?

Okay so he is in foreclosure. But why doesnt the bank have the power to just forece the auction(trustee sale) to happpen once and for all? 

Is it up to the bank? Because 7 years seems absurd.

That's what I saw at the assessors office, he's been served Notice of Defaults over the years, and he's been up for auction many times. 

So the bank does have the power to skip a trustee sale and just foreclose on it instead, or no? And if not, who decides whether he can keep postponing the auction, is that the bank or county? 7 years seems way to gracious for a bank to allow that.