All Forum Posts by: Maryann L.

A lot of the approvals I see and some of the addendums state there can be no "side contracts" between the homeowner and buyer.

You are helping them already by avoiding foreclosure.

Does anyone have a clear picture how the HAFA 90 day hold will affect those of us who use transactional funding?

How can we pre-determine if a property falls under the new HAFA guidelines ahead of time?

I'm not a fan of saying - "Oh well, you have THAT type of loan so we can't work with you." - Looks like I may have to.

Thanks Scott,
I did tell this person to pursue legal advice as well as talk to her accountant. Not sure it will go anywhere yet, but I like to be prepared.

Thank you.

*bump*

*bump*

When we run into a Realtor that has a ss listing, we try to utilize them till the very end. So they help on the A-B side then we relist with them on the B-C side.

I think it's common for a lot of Realtors not to "get it" so if you run into red flags, move on to another you can work with. Don't waste too much time on those that dont.

Hi Caleb,
I'm not sure why you have ATTN Negotiators, but *I* meet the BPO agent if at all possible. My negotiator doesn't meet the BPO agent. I have comps or cma, and usually the hardship letter so the BPO agent knows what's going on. If the property is tough to get a lower value on I will get an inspection and provide a full report with estimates, but that's rare.
I guess that's it.

Most of the houses we've done so far are under $400,000. I have a homeowner that just called that bought a home for 1.2 mil and owes $800,000 and some change.

Because she paid over 1.2, can we short this? I thought the new rules stated nothing over $800,000...or is it nothing over $800,000 where the deficiency is waived...anyone here do luxury homes?

Competition is everywhere..not a big deal. What sets you apart from them will be the clincher. :D

I'd say that's it in a nutshell, but keep in mind out of your $10,000 profit in your example you'll pay closing costs, commissions, taxes, etc., and anything else you need to bring to the table.

We have a deal right now that we're buying for $150,000 and are selling for $180,000 but that 30,000 won't go in my pocket. My net is going to be around $12000. If I bought this property in the next state over, my net might be aroiund $8,000 because they have higher tax fees.

But I think you've pretty well outlined it in a nutshell.