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12 October 2011 | 4 replies
If you have completed any amount of short sales you do upfront work first to not waste time.Never take what a seller says at face value.They will tell you anything to try and get help to solve a problem but the issue is they don't know they are hurting instead of helping.The problem with sellers is at first they are motivated to do a short sale.Then as time goes on and credit is ruined and they have moved out they become emotionally detached from the property.The buyer have unrealistic time lines to close for a short sale.You need to know if your market is declining,flat,or appreciating every month.If it's appreciating or flat the benefit is to the buyer.If it is declining the benefit is to the bank because by the time it close it might have lost 5 to 10 percent of value from the contract price.Your bank actually moved pretty quick with the short sale compared to some others.A buyer and a seller need to understand it could take 3 to 6 months or longer to do a short sale.A friend of mine that is another broker in Florida has completed over 800 short sales.He is a master at them.I did residential for a few years but then moved to commercial so I haven't kept up with all the regulatory junk on the residential side.He does all residential and does not take the short sale unless the seller agrees to certain conditions from the beginning.
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17 October 2011 | 10 replies
Well, let's say an agreement is reached to transfer the home via some sort of owner financing.How about a second signed agreement that states:"Just in case, because of regulatory or other reasons, a "more traditional type of sale" is required to transfer said property.
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18 October 2011 | 0 replies
She looks able bodied.
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10 November 2011 | 31 replies
You might find one investor who would want to do multiple properties, but I would not go the route of mixing funds and starting PPM's or regulatory filings.
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15 November 2011 | 18 replies
No gun shots at night, No body walking around in baggy saggy pants, No cars in the yards, no outside fights, ETC.I was highly entertained while doing that rehab.
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13 December 2011 | 9 replies
Hi (Neighbor) Denise,Nice to see another jersey body here.
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24 July 2015 | 7 replies
That type of irrational behavior could only be due to regulatory pressure.In portfolio lending, banks are moving away from 5/1 ARMs and toward 5 yr balloons, to give them greater flexibility to adjust rate/terms, or to be rid of the loan if they so choose.
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12 February 2012 | 5 replies
I could incorprate these changes into the side to be renovated, but retrofitting them into the already completed side would be more difficult.I am looking to hear anyone's experience as to what the cost of a sprinkler sytem/ alarm system might be and if there are other incremental costs or regulations that should be anticipated that I haven't thought of.For the extra $500 per month income and some decrease in insurance costs, I am motivated to do this, but the regulatory hassels are less as a two unit.What do you think?
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3 February 2012 | 5 replies
Then, I find that other questions I am interested in asking I prefer to hear the answer in person so I can evaluate their body langauge.