Home Lost, Home Owner in 33415

WHY DO REALTORS LIE ABOUT SHORT SALES AND FORECLOSURES? WHERE IS THE NEGOTATING WHEN IT COMES TO TORN UP HOMES?

Asked by Home Lost, 33415 Thu Oct 11, 2012

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11
Jack Liebsch II’s answer
Not sure why a real estate agent would intentionally lie and hide the fact that a property was a short sale, since they don't get paid until after the property is sold. Hiding such a fact does not seem very logical since it will eventually be discovered. I am guessing that agent was simply very sloppy and inexperienced since they also told you that a bank owned property could close quickly. I have been under contract to purchase a bank owned property myself for over a year now, and I am still waiting to close. I have seen some banks take many weeks just to execute a contract. As for short sales, they can greatly vary in time as well. I have seen a few close very quickly, while others never reach closing. If you are targeting any distressed property, in most cases, you will be purchasing them in as-is condition, and the Seller will likely be unable or unwilling to negotiate any repairs. Even though the Seller and agents may claim they can push for a fast closing, you should be aware the odds of unexpected delays and failures are far greater as compared to traditional private owner properties. If your relocation timeline is not flexible enough for potentials delays and problems, I would strongly suggest avoiding all distressed properties.

If there was a true rating system for real estate agents, you would discover that a small percentage are either very good or very bad, with the majority falling somewhere in between. To help reduce the stress of dealing with another bad or mediocre agent, I would recommend that you consult with at least three to help find one who you can trust, who is responsive, and is most compatible with your personality.
1 vote Thank Flag Link Thu Oct 11, 2012
It’s just a job like any other job. If they don’t care about the money they probably aren’t the agent I would want representing me. As for being a cash buyer, nothing special about that, all of the deals I closed last year the seller received cash. Not one of them was willing to take bananas, I offered….

But my better half is a Realtor, I can’t get away from it, so I know that “cash buyers” often think that means they can steal a property. It only means you can close a little bit quicker, and I mean just a little bit quicker.

If you are targeting distressed properties looking for a steal you’ll need to chill out, it takes time. Can it happen, sure. But does it happen every time? HAHAHAHA,

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
0 votes Thank Flag Link Fri Oct 12, 2012
In answering the second part of your question:
Most " torn up homes " are offered clearly " AS -IS " . this is an announcement
that physical deficiencies are to be the resposibility of the buyer!
Further, most "distressed " property is offered at a discount -reflecting the
deficiencies. Most skilled Realtors would advise you properlly of the
futility of asking for further concessions. There is a demand for such listings
and the need to " negotiate " is not there for many sellers. Am I lying?



Bob Brubaker Highlight Realty Palm Beach County Fl.
Web Reference: http://www.pbc-realcam.com
0 votes Thank Flag Link Fri Oct 12, 2012
Unfortunatelly many real estate agents and realtors lie every single day. They lied to me hundred of time.To avoid that you should always consult several agents and please, take the time to read the recomendations that agent has but, verified recomendations such a Trulia's recomendations.Ask for past client's phone numbers and talk to them.
Maria Cristina Esquibel
United Real Estate
0 votes Thank Flag Link Fri Oct 12, 2012
Sorry to hear of your trouble. The " Truth " you can count on in Real Estate
is written confirmation of what you are being told ! Copies of listings
for price, terms,status, written confirmation of any changes or follow-up agreements!
In Real Estate practice and Law thsre is no such thing as "understandings" or
" verbal assurances" outside of what's written. What you are told is only as good
as how such can be confirmed in writing.
Most Agents will want to share their sources of information with you/ and or
direct you to public information and informational websites to reinforce what they are
telling you. Best Bet : If its important see it in writing to be sure! My Best Customers
are informed customers!

Bob Brubaker Highlight Realty Palm Beach County Fl.
0 votes Thank Flag Link Thu Oct 11, 2012
I think you found your answer in the posts below.

Lenders rarely if ever allow for repair related credits. Sales are "as-is". As Shanna correctly pointed out, most properties have had price adjustments based on the extent of repairs needed. You could always submit an offer that you consider appropriate if you honestly feel the asking price is set too high. Of course, in the case of a foreclosure, bear in mind that you are likely not the only person submitting an offer and the lender will at some point go with the highest and best offer presented.
0 votes Thank Flag Link Thu Oct 11, 2012
Dear Home Lost,

Real Estate agents may lie, REALTORs dont lie, we take an oath NOT to.

We pass on information we are presented, which should be verified prior to passing it on.

Banks are vague, could care less about deadlines nand tell us what they want to tell us, which we are required to pass on.

I thgink you are rude and if you lost your home with the attitude youbhave, you probably deserved it.

Do you expect your paycheck at the end of the week? Do you have to wait 6 months to 2 years to get it? Are you available 24/7? Probably not.

You wnat to buy a home, first interview agents looking for the one you feel comfortable with and then look for the home. It will go much better.

Otherewise unless your name is home lost, you are cowardly hiding behind the internet and you are a lying.
0 votes Thank Flag Link Thu Oct 11, 2012
I DID NOT PICK THE NAME HOME LOST AND SECOND OF I HAVE PAID MY BILLS AND BOUGHT PROPERTY BEFORE AND BECAUSE OF PEOPLE LIKE YOU THIS THE REASON WHY SO MANY PEOPLE HAVE LOST THEIR HOMES BECAUSE YOU DON'T DO YOUR HOME WORK AND YOU WILL LIE OR STRETCH THR TRUTH. YOU ARE IN THE BUSINESS LIKE THE OTHER REALTOR SAID LAND SWINDLER. YOU ACT AS IF YOU GUYS ARE GOD . DON'T YOU DARE COME OUT OF YOUR FACE LIKE I AM A DEAD BEAT, IT'S JUST BECAUSE OF SO CALLED REALTORS LIKE YOU THAT TAKE AN OATH WHY THE ECONOMY IS SO MESSED UP. IF YOU TOOK SUCH AN OATH THEN HOW COME SO MANY PEOPLE GOT HOMES THAT SHOULDN'T HAVE AND NOW WANT US TO PAY FOR THEIR MISTAKES? REALLY YOU ARE GOING THERE WHEN HALF OF YOU GUYS ARE SCHEMING AGAIN TO SUCK THE MARKET DRY AGAINST. THANK GOD THAT FEDERAL GOVERNMENT STOP SO MANY FROM FLIPPING AND TAKING ADVANTAGE OF OTHERS MIS FORTUNE. GOD BLESS YOUR SOUL!
Flag Thu Oct 11, 2012
In my experience dealing with Realtors is that sometimes they aren't lying its more that they don't know. Unfortunately there are many Realtors out there that are under informed and don't try to get better at there craft. When looking for a realtor it isn't about how long they have been doing it or how many houses they sell. Find one that treats you fairly returns phone calls and gets you answers to all your questions. If you find a realtor that does all that and more you will have no problem buying your next house. Remember it is OK to interview more than 1 realtor when you get start your house hunt but as long as they are giving you the respect and time you require do the same for them. If you find another house call them with it and have them do the leg work. The fastest way to end a relationship with a good realtor is to be talking to other Realtors at the same time. It is always OK to ask for help when looking for an agent but when you find them make sure they fit with you.

Wally
United Realty Group
Senior Manger Choice Plus Team
5616016047
0 votes Thank Flag Link Thu Oct 11, 2012
I WAS TOLD THAT THE HOME WAS A FORECLOSURE OR BANK OWNED WHICH COULD CLOSE QUICKLY WHEN IT WAS A SHORT SALE THAT WOULD TAKE TOO MUCH TIME WHEN I AM PURCHASING A HOME WITH CASH! I AM GIVE 60% OF REALTOR AN F BECAUSE THEY PRETEND TO CARE AND THEY DON'T EXCEPT THE MONEY IN THEIR POCKET! JUST WANT TO BUY A HOME!
0 votes Thank Flag Link Thu Oct 11, 2012
Hi Home Lost,

I'm not sure what lie was told to you? Not all Realtors lie - however, some do 'stretch the truth'. When it comes to Short Sales and Foreclosures, there usually is litttle to no negotiating for repairs as most, if not all, are sold 'as is'. The price usually reflects the repairs needed if there are any.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Thu Oct 11, 2012
YOU ARE RIGHT IT'S JUST THE ONES I'VE COME ACROSS HAS. THE WAY IT IS LIKE WHEN REAPAIRING YOUR CAR I CAN NOT TELL I AM GIVING YOU A NEW PART AND CHARGING YOU LABOR AND YOU FIND OUT IT'S A USED PART! WHAT YOU PUT IN WRITING IS WHAT IT SHOULD BE! THAT'S ALL! CARE ABOUT THE CLIENT!
Flag Thu Oct 11, 2012
Can you give an example of what lie was told to you?
0 votes Thank Flag Link Thu Oct 11, 2012
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