Postclosing deficiency negotiations requires payment of additional fees and is not covered under the scope of the short sale flat-fee.Retainer.

I took some of those on but after having to work a short sale, get the bank to agree to waive a deficiency against borrower, negotiate water liens down with the city attorneys and the watershed department, work on other lien holders including back property taxes it's too much work.The units would be gut jobs on the inside and you had to do months of negotiations where I would make only 6k or so in commission because the units would sell for a few k each.I do not mess with these types of properties anymore.

The issue is the discount that is allowed actually causes harm in cases where the property is NOO or other situations where a borrower might be on the hook for deficiency or tax implications.Also, forcing you to purchase an asset in a geography that is not one you may want, like saying you must purchase on a nationwide footprint seems counter-productive to inducing the highest best bid from you.

This satisfies the open market sale required by law , but leaves them option to sue creditor for a deficiency judgement for difference from $1 to loan amount.

They will also have many ways to help you avoid having a foreclosure on your record, avoid agreeing to a DIL, avoid agreeing to deficiency judgements and avoid signing promissory notes.

It is easy to show that referring the property to you without even putting it on the MLS is in the best interests of the homeowner, as long as you have a track record of closing deals (and getting the deficiencies waived).

I found a half lot in a very established neighborhood with a two year tax deficiency.- Viable exit strategies.

You should be grateful of the fact that these banks aren't enforcing a deficiency judgement and instead provide (your words) bank debt forgiveness.

If you can find a buyer, you will either have to bring cash to the table, work out a payment plan with Countrywide or get slapped with a deficiency judgment.

both of you don't want to be in an actual breach scenario. in that case the partner that is deficient looses most of the voting rights and all managing rights2) Not in any case could a deficiency take away the partner's ability to vote on lease (on leases over 2 years) and or convey real property3) salaries and pay on partners need to be agreed going forward4) If this really is going to be a long lasting partnership; what to do in death, who are the heirs?