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Agent2Agent in Fullerton : Real Estate Advice

  • All150
  • Local Info15
  • Home Buying38
  • Home Selling2
  • Market Conditions6

Activity 3
Fri Nov 18, 2011
Denise Lones answered:
Rather than tell you which brokerage to join, I’m going to suggest that you do more research.

There are many smaller to medium-sized brokerages which offer great training and marketing, and many of them have very competitive commission splits. In many markets throughout the country, small boutique firms dominate the high-end neighborhoods. However, you should know that this is not usually a function of the office or the company, but might be based simply on one or two individual agents in that office who work those markets.

However, in addition to wanting to go to an office with a presence in the high end, you need to carefully balance training, marketing, commission sharing, and much more. The only way you’ll learn about what each company has to offer is to interview with them. That way, you’ll also be able to determine which office’s culture is the best fit for you. Good luck in your new career!
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Sat Oct 17, 2009
Emily Knell answered:
2nd lien holders are not getting Nothing. You need to stop talking to them about purchase price & value. Only NET to them.

Do NOT ever say to a 2nd lien holder "But, But But, don't you guys realize you're going to get NOTHING if this home goes to auction?"

They ARE making something. They have default insurance which pays them 5%, PLUS they could also be carrying Mortgage Insurance even on their small 2nd.

Then when you go & say something like the statement above, they use that to their advantage & realize that they can Play with You! You're just the little ant on the sidewalk & they're holding the large magnifying glass aiming it just right with the sunlight to burn your little feelers off!

Outline for them again (if this is the case) that your seller does not have the means with which to agree to a promissory note due to their troubled financial situation. Many lenders, Wells Fargo for example do not even offer the option to do a promissory note because they know that the Re-default rate is too high & they don't want to spend money on resources to deal with that.

emilyknell1@yahoo.com
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Sun Jul 19, 2009
Thom Colby answered:
Bonnie-

At this point the seller is the owner of the property - not the bank (until foreclosure has occurred). As stated below your seller needs to obtain legal advice and someone needs to review the loan docs regarding the current loan(s). Moreoften there is n "assignment of rents" clause which needs to be considered closely.

Best of luck,

Thom Colby
Broker / REALTOR
Orange County, CA
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