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San Jose Short Sale Buyers Agents Should Be Rated Also

Posted by Marcy Moyer on September 13, 2011 at 3:24pm

When making an offer on a San Jose Short Sale it is common for the buyer's agent to ask the listing agent about his or her experience with short sales. They want to know if the seller's agent knows what he or she is doing because that is essential for a successful short sale completion. So when I am asked those questions I can honestly say that I am certified (CDPE), experienced, and successful.

But enough about me, what about you buyer's agent.  How many buyers have you ushered through the sometimes long and tedious process of a short sale? How many of your buyers have dropped out because they got tired of waiting or found something better? How many of your buyers really understand what "As-Is" means? How much do you understand about the process.

When I represent the buyer on a short sale I make sure they understand what is going to happen, how long it could take, and what will be expected of them.  I also make sure the buyer really wants that particular house, and is not just making lots of offers and willing to take the first one that gets approved.  

So if you are selling a San Jose Short Sale, ask your agent to talk to the buyer about their short sale experience and expectations before you sign that offer.

If you have any questions about buying or selling a short sale in San Mateo or Santa Clara Counties please feel free to contact me.

Marcy Moyer CDPE

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E.  01191194

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Short Sales and Trust and Probate Sales

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Can't We All Just Get Along???

Posted by Robin Whitt on November 24, 2009 at 3:40pm
From the Blogs and Forums I read and the Agents I talk to, it seems most Realtors consider themselves either a Listing Agent or Buyer's Agent. Of course that isn't any different than it has been in decades of Real Estate Markets. BUT today's Agents seem to narrow their category down even further to a REO Buyer's Agent or a REO Listing Agent. That is the Market. There are hardly any Vanilla Sales out there to be had, so we are REO Agents.If you sit down with a group of "REO Buyer's Agents" you will hear a plethora of gripes about "REO Listing Agents"; they are selling everything 'in-house', they are purposely trying to drive up the offers, they make the requirements for submitting an offer 'too hard', they NEVER answer their phones....And the list goes on and on.On the other hand you have an entire set of complaints from the "REO Listing Agents" about the "REO Buyer's Agents"; these dumb Agents can't follow directions, how dare they call me on the phone as busy as I am....You know you've heard these things...you may have even said them! LOLPersonally, I guess I can see each side as my Partner and I have tried to stay diversified. I spend the majority of my time focusing on REO's, my Partner is a great Networker and works with Investors, we have a wonderful Buyer's Agent, a terriffic short sale negotiator and of course our Transaction Coordinator who none of us could live without.Maybe I'm just being sappy with the holiday this week, but we should all be thankful for eachother. If there were no Buyer's Agents, the Listing Agents wouldn't have multiple offers on all their properties. If there were no Listing Agents, I guess the Buyer's Agents would be looking for a new career.So as you give thanks on Thursday, remember to be thankful for that REO Buyer's Agent who just can't seem to get an escrow check made out in the right Title Company's name, be thankful for that REO Listing Agent who you aren't quite sure exists because no one has ever actually talked to him on the phone or seen him in person. Without them, we'd all be working some boring job.Happy Thanksgiving!
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Changes to Short Sale Laws

Posted by Franklin E. Rodebaugh on November 12, 2009 at 4:39am
According to the Indiana Association of Realtors (IAR Advocate 11/06/09), it is now Indiana state law that lenders must acknowledge short sale offers within 10 days. Under the 2008 law, lenders then have 30 days from receipt of the offer to accept or reject the offer.There is an on-line complaint form that can be filed with the Indiana Department of Financial Institutions (DFI). The DFI uses the complaints to track and establish patterns with certain lenders and use regulatory authority to investigate.Additionally, the Homeowner Protection Unit of the Indiana Attorney General has enforcement authority over the complaints. The complaints should continue to be filed with the DFI, with the field that the Homeowner Protection Unit should investigate marked (Field #18 on the Indiana complaint).We repeatedly hear from agents that the reason short sales do not move to closing is that it sometimes takes the sellers months to respond to offers.I strongly suggest that every agent check and see if their state has a similar law on the books and let the lender know you know about it when submitting a short sale offer. I know somewhere on our future short sale offers will be a sentence requesting a response by a certain date “per Indiana Statute” as a reminder to the lender that there are statute imposed time limits in place. This would also do to notify the lender of the time limits if they were not aware of them.Perhaps we can use our state laws to move our short sales along and keep them from becoming “long sales”.I also strongly suggest that agents working with lenders as short sale reps make their clients aware of any local or state laws of this nature. Be aware that just like a like a REO AM, the short sale AM is most likely dealing with properties in multiple states and jurisdictions and it is our job to protect them and make sure our clients are within the local laws.
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