It’s Not the Bank Who Pays the Short Sale Fees

On September 17, 2010 By

I’ve probably written about this before, but every time I overhear another agent advising their client that the lender pays the commissions on the transaction, I think, no, that’s not exactly true.

The lien holder on your property is a third party to the real estate transaction.  They aren’t involved in the actual real-estate part [...]

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The Truth About Loan Modification

On September 25, 2009 By

When applying for a loan modification, be prepared to disclose your entire financial life to whomever is negotiating your modification.  If you try to do it, you will fail, unless you are persistent, or insane.  Some attorneys require $3000 up front retainers to even begin negotiating with the bank.  There is no guarantee that it [...]

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Beating the BPO on a Short Sale

On August 26, 2009 By

The BPO is the Broker Price Opinion.  It’s an opinion of the value of a home by a licensed real estate agent, not by a certified appraiser.  Before any home goes on the market, your real estate agent will conduct a Market Analysis of your home, neighborhood and neighboring sub-divisions.  He or she will recommend [...]

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We Don’t Own the Data

On November 25, 2008 By

Arizona Regional Multiple Listing Service made a recent change to their policies and their data.  There were, on the records, about 4750 active listings that had been entered with a checked field.  That field was labeled Lender/Corp Approval which was thought by many to be the best option when entering a short sale into the [...]

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