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Shai Mashiach, Real Estate Pro in Fort Lauderdale, FL

TO ALL REALTORS. How many deals in 2012 fell through for you and/ or your company? And why?

Asked by Shai Mashiach, Fort Lauderdale, FL Fri Dec 28, 2012

I’m trying to do a study on 2012 was a good year for us Realtor or it became more unpredictable and uncertain. Please answer the question honestly.
Thanks,
Shai

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Answers

7
We had 3 deals fall apart at no fault of ours. 2 properties fell apart because of lending requirements, one was a condo and the owner occupancy for the community was below 50%, the other deal was a beautiful detached home with a Granny Flat put on the backside of the property, because the granny flat was a manufactured home we could not get a conventional loan... it falls in some type of limbo area between a manufactured home loan and a residential home loan. The other deal was a short sale which the owner decided to attempt to get a loan modification 4 days before closing escrow... which kills the short sale "I think the owner just liked not paying rent/mortgage" the property eventually foreclosed.
Out of all the deals those are the only 3 that feel though, all in all a good year! Looking forward to 2013!
Happy Holidays Everyone!

Also if anybody is looking for an agent that works all San Diego county to refer business to, I would be happy to help!

Joseph Arendsen
760-672-0174
0 votes Thank Flag Link Fri Dec 28, 2012
One deal fell through and it was a short sale. I am blessed as it was a VERY good year.
0 votes Thank Flag Link Fri Dec 28, 2012
Thank god only one!
And that was because the house failed inspections.
Otherwise it was a very good year!!
0 votes Thank Flag Link Fri Dec 28, 2012
I had only two deals that fell through. Both of them were cash deals on condos; those buyers got cold feet at the beginning and backed out on technicalities (review of condo docs). As for my company, we do thousand of transactions a year, so I have no idea. They haven't bought anything else, neither from me nor from other agents, that I know of).
0 votes Thank Flag Link Fri Dec 28, 2012
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As a Mortgage Broker who is not scared to tell the truth, I can say most deals that have fallen apart in America because of mortgage issues are due to 3 things and EVERY Lender, LO, Mortgage Broker, Loan Processor all know I'm 100% correct and they are:

1. OBAMA'S FAILED POLICIES-
he took a bad situation in 2008 and has made it 10 times worse that what it should be.

2. DODD FRANK ACT- (i.e. The Death Star for consumers, especially Self Employed borrowers) has crippled the mortgage industry and has sent costs much higher for consumers as well as cause lenders like Wells Fargo to take up to 120 days (FOUR MONTHS) to close a loan!

3. HVCC (Home Value Code of Conduct)-
the work of Andrew Cuomo (dem. Gov. of NY) setting all new rules of how Lenders, Banks and Mortgage Brokers are able to order appraisals which has increased the cost of appraisals, cause a mass exodus of good appraisers from the industry, has caused horrendous issues over the past 4 yrs and as cost America billions in lost equity!

These are the FACTS! But hey, four more years of …”Hope and Change” should fix all of America’s troubles right?

Steve McRory
Pro Option Mortgage/ Florida
steve@pro-option.com
http://WWW.PRO-OPTION.COM
Ph: 888 662 4404

Prior Service U.S. Marine Corps
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0 votes Thank Flag Link Fri Dec 28, 2012
We had 4 pending deals fall through out of 30, all were short sales.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Fri Dec 28, 2012
2 transactions failed to close due to appraisals failing to meet the sale price.
0 votes Thank Flag Link Fri Dec 28, 2012
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