All Forum Posts by: Sandy Thayer

Can you be successful in purchasing a note through the large lenders, such as Wells Fargo, Bank of America, etc.?

Why would a real estate investor want to buy the mortgage note on a home where the owner cannot make the mortgage payment? At first, the investor wanted to purchase the short sale home to repair and sell. Now, he mentions purchasing the note as a bargaining tool.

My goal is to make sure that my seller does not incur a deficiency judgment requiring him to file for bankruptcy. If someone else is doing the negotiation with the lender, what can my seller do to say no to the negotiated offer?

Thank you, Eric. This is my first attempt to let someone else negotiate the short sale. I am assuming that the bank will require the seller to sign paperwork regarding a deficiency judgment and refusing to do so will cancel the negotiated offer. Is this correct?

A buyer want to negotiate with the lender directly on one of my short sale listings. Has anyone seen a contract the would identify the negotiator (buyer) fiduciary responsibility to the seller?