Foreclosure in Dallas>Question Details

Misael Burgos, Home Buyer in Garnerville, NY

Looking for an agent that knows the short sale process and also has worked with an investor before on these deals?

Asked by Misael Burgos, Garnerville, NY Mon Mar 19, 2012

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You can work with an agent similar to myself in your area. I am a certified short sale agent through reoprep. We also have a direct correlation with the short sale program there which means you may get a chance to work with a property that may have had multiple offers on it and failed.
0 votes Thank Flag Link Wed May 16, 2012
My response is not meant to trivialize those who have educated themselves on the short -sale process, but... Each bank has different rules and regs for their respective short-sale process. The problem, however, is that the banks have been changing their policies regarding short-sales almost daily. Just when you think you have the process down for a particular bank, someone tells you this or that is different now, and they always blame any one of the three "regulars": the Government, the unknown "negotiator," who you cannot speak with, or the underwriter - the other person you cannot speak with. Please know, that while some short sales do Close, there is actually an incentive for the banks to foreclose on the property despite what the Gov., Congress, FHA, HUD, and anyone else may tell you. The bottom line is that they are writing off the loss - AND they got the bail-out! Further, they will be able to also write off RE Commissions AFTER the foreclosure! ...Who's fooling who? ...Congress sooo doesn't have a clue. It's scary! If they truly wanted to turn this economy around, the Gov. and the damn banks need to allow the investors to do what needs to be done!! They need to back off and let the market do what it does best - allow supply and demand to take it's course! Good luck finding a bank who will "allow" you, an investor, to purchase a short-sale - better yet, good luck finding a broker willing to work the short sale process knowing it's getting harder and harder and who still has his or her hair left to pull! As for those "schools" popping up to obtain certification after certification, etc. - have you stopped to think about that? One company who popped up out of no-where was Equator! And, hmmm.. look at that, now they have positioned themselves in between BOA and the Brokers working the short sale, and... hmmm, look at that, now they "offer" certification courses to the very same Brokers who already had experience working the short-sales, but are now being told to get certified so that you can be the TOP Broker in the Equator system.... ...really? ...how many have fallen for that? ...be honest now. ...I'm actually wondering who owns Equator. ..I think I'll look that up. I'll give myself three guesses.
0 votes Thank Flag Link Thu Apr 12, 2012
You probably are asking for a Realtor with the SFR designation.
Realtors with SFR (Short Sale and Foreclosure Resource specialty) are trained in doing short sales. Many of us have either been on the listing side or the buyer's side in short sales, and we can assist you understanding the process and dealing with the paperwork and delays.

Investors have their own needs, primarily around the financing part. Investors often cannot get the same low rates as owner-occupants and normally have to pay more down payment than owner-occupants can get away with.

If you're out of the area, you'll also need people to do the actual rehabiliation of the property, putting in shape to rent out or ultimately to sell. So, you'll need contacts in the construction/handyman side of things, too.

These are all familiar to us.
Web Reference: http://www.SumnerRealty.com
0 votes Thank Flag Link Thu Apr 5, 2012
You should ask yourself what criteria you will use to judge whether or not an agent "knows the short sale process" or not. What if you end up with many agents claiming to be experts in short sales and working with investors, when in fact they actually lack the requisite knowledge, skills, and competencies to professionally represent you in such a scenario. Simply asking an agent if they're knowledgeable is a recipe for disaster. When an agent says they're experienced, make sure you ask them to prove it by more than mere words....demand documentation.

Do yourself a big favor and set out some very defined criteria that you will use when visiting with agents...otherwise you could end up in foreclosure due to an incompetent or inexperienced agent.
0 votes Thank Flag Link Mon Mar 19, 2012
I am your person how can I assist you ?

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Mon Mar 19, 2012
Hi, I'm a full time agent with Ebby Halliday Realtors who has worked several short sale and foreclosure properties for both local investors and out of state buyers looking for that good deal. I'm also an investor myself with multiple rental properties. I can help you navigate the process smoothly because sometimes it can be a rough go in dealing with banks.

Feel free to call me with any questions.

Belinda Reyna
Ebby Halliday Realtors
214-769-6896
Belindareyna@Ebby.com
0 votes Thank Flag Link Mon Mar 19, 2012
email me at av.vaghela@surpemelending.com and I will email you 2 agents contact info that specialize in what you are looking for.
0 votes Thank Flag Link Mon Mar 19, 2012
sorry, av.vaghela@supremelending.com
Flag Mon Mar 19, 2012
I myself am an investor, and most of client's are as well. Give me a call and we can chat.

Kevin D. Brown
Owner/ KDB Properties
972.379.8931
kevin@kdbpropertiesdfw.com
0 votes Thank Flag Link Mon Mar 19, 2012
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