San Jose Short Sale Agents

Do I Need a Short Sale Agent?

Do I Need a Short Sale Agent?

 

                 Selling your home as a Short Sale by no means requires that you find a Short Sale Agent but, it is likely one of the smartest things you can do. Agents that specialize in Short Sales can definitely make the process much easier and a lot smoother. However, don’t be fooled, just because an agent takes a course in Short Sales and/or receives a certificate for completing a course by  no means defines them as a Short Sale Specialist.

                The benefits of hiring an experienced Short Sale specialist surmount the benefits of hiring a regular agent or an agent that just completes a course. What can an experienced Short Sale agent do for a seller that a regular agent cannot? A Short Sale Agent that has sold other homes in your area can assist you in pricing your Short Sale correctly. Pricing your home for the right price is extremely important. If not priced within reason, there is a better chance your lender will deny your application for Short Sale. Short Sale Agents are most likely familiar with the Short Sale processes of the major banks in your area (even though they are frequently changing) and they tend to have a better understanding of what is going to be required to complete the Short Sale process.

If the Short Sale Agent has sold other homes in your area, they should have the knowledge to best market your home and the “know how” to keep a potential buyer interested during the approval process. An experienced Short Sale agent should also be able to identify potential problems that may arise quickly and resolve the issue before becoming an issue. A good Short Sale Agent will be able to answer your questions, usually by heart as well as provide you with all of the important details such as fees that you will be required to pay and may also be able to get you money back at closing. Generally, an experienced agent will have gained the respect of other Realtors® who trust that they will handle the process quickly and efficiently; trust in an agent can go a long way.

Your San Jose Short Sale Agent

For the best service and local information for San Jose California, feel free to visit or call anytime. I not only know the area, but know the real estate market and can help you buy, sell, invest or quickly get out of any home or property. I am a short sale expert but can also help you purchase or sell any home or property in the entire San Jose area.

San Jose Short Sale Agents and Third Party Negotiators

Hiring San Jose Short Sale Agents who hire a Third Party Negotiator is much like drinking and driving. It’s a lethal combination that could be deadly in terms of a successful short sale. Prudent decision-making dictates … don’t do it!

I was talking with a buyer’s agent on one of my short sales. The buyer’s agent and I have a good rapport. He is very responsive to phone calls, emails and quickly returns documents that require signatures.  As a San Jose short sale agent, I appreciate a responsive buyer’s agent. 

The agent expressed his appreciation for how I manage my short sales.  I explained why I do not use a third party negotiator.  My reasons resonated with him as he experienced the same issues with the negotiator he hires to manage his short sales.  However, he simply does not like managing the short sale so he hires the task out.  I believe this practice ultimately compromises the sellers in exchange for his personal comfort.  

Short Sales are not Child's Play

I strongly believe San Jose short sale agents need specialized training in order to be effective. Unfortunately, training is not required by the California Department of Real Estate. One only need a real estate license to transact short sales.

Agents who are not trained and/or who do not want to negotiate the short sales should focus on non-short sale activity. I’ve been listing and closing short sales long enough to know what happens when an agent attempting a short sale does not know what they are doing. Ultimately, it serves no one except possibly the agent if they manage to get the approval and close the sale.

The Buyer’s asked me if I offered short sale negotiations as s service.  I explained the reason why I do not. It’s essentially the same reason I don’t hire out the service.  I have little control over the transaction when someone else is tasked with dealing with the lenders and servicers. Conversely, as a third party negotiator, I have no control over the sellers. Control meaning setting realistic expectations upfront, keeping lines of communication open, and ensuring full cooperation with the process.

My clients hire me to list, market, negotiate and close the short sale.

Hire an Experienced Short Sale AgentEven though I do not necessarily enjoy dealing with the lenders and/or servicers and their broken short sale process, I do not believe there is anyone who can do a better job than me.  My short sale success fully supports that statement.

If you need a San Jose short sale agent, then hire an agent qualified to do their job which is to help you avoid foreclosure and ensure your best interests are being served at all times. 

Call today for a free, no obligation consultation. 

800-972-1822

Money and Power – Follow the Money

I recently received my personally signed copy of Money and Power by Steven Sadleir who I met for the first time about 6 years ago. I am impressed with Steven’s background and his message to the world. Steven is about spreading peace, love, joy and happiness … creating Heaven on Earth.

As a San Jose short sale agent, I want to learn more to better understand how and why our nation is where it is today with the Federal Reserve, the banking cartel, and how banks make money even when the lender approves short sales at a so-called “loss.”

Although the take on Facebook was originally intended as a spoof we all need to understand that big brother is watching. How much truth is in the spoof? That is up to each of us to decide. I’m deciding as I continue to read Money and Power, The Secret History.

I feel the manner in which lenders and servicers treat homeowners and the San Jose short sale agents that represent them is absolutely shameful. There really needs to be laws against it.  If we are going to enact laws, then we need laws to protect the people not the big bad banks who shamelessly profit from struggling tax paying citizens.

“If you want to know who controls the world, just follow the money.” New York Congressman, Allard K. Lowenstein.

San Jose Short Sale Agent – Thankfully Yours!

Yesterday I received

My clients who closed on their HAFA short sale at the end of last month sent them.

Thank you Mr. and Mrs. Client for your trust and confidence in me.  It means more to me than words can express.  There is so much beauty in the flowers and in you!  You are an inspiration to me to continue to do what I do. Serving people like you adds a greater purpose to my life. 

Thank you!

I am one blessed San Jose Short Sale Agent to have had the honor of helping you avoid foreclosure!

San Jose Short Sales – Agent Short a Full Deck

San Jose Short Sales

Agent Short a Full Deck? 

 

It makes perfect sense that a seller or home buyer may not clearly understand short sales.  It seems that I find myself explaining short sales on a daily basis.

What baffles my mind are the Agents who write offers on short sales and believe that because the offer is ALL CASH the Banks will allow the property to be sold significantly below market value.

Adding to my confusion is why an agent would submit an ALL CASH offer in December 2010 and provide a letter from the bank dated 6-25-2010 which verifies LESS funds than the all cash offer price.   Not only is the verification of funds letter nearly 6 months stale … I’m wondering if the agent understands San Jose short sales.

To be clear, when a lender approves a short sale, the lender agrees to accept less than what the seller/borrower owes on the property provided the offer to purchase is a fair market value offer and is supported by a loan approval letter and proof of funds to close the transaction.

It appears the agent who wrote the offer may simply be short a full deck in her understanding of real estate and short sales.

Short Sales are not a Real Estate Board Game. Short Sales are designed to help homeowners avoid foreclosure.  Most homeowners choose short sales among the foreclosure alternatives.

Buyers making offers on short sales need to choose an agent who understands the short sale process. and how to write an offer.

San Jose Short Sales Listing Agent, Kathleen Daniels is committed to helping homeowners avoid foreclosure.  It is important that only strong offers be considered and that the buyer and the buyer’s agent understands the process … short sales are no joking matter.

Facing Foreclosure?

Call 1-800-972-1822 for a free consultation to discuss your options!


San Jose Short Sales – $300 buys Short Sale Approval

San Jose Short Sales – $300 buys Short Sale Approval

San Jose Short Sales kicks some Short Sales Bootie! When to going gets tough – the tough get going!

The Short Sale saga continues San Jose Short Sales – When Best Efforts Fall short

We got a third buyer into contract; submitted the offer to the new servicer (RCSI); and got the Trustee Sale date postponed for the third time.

RCSI declined the file and closed the file.

WHAT!?

We were told that the notes say that the offer needed to be at $XXX,000 to be considered. A message was sent to the negotiator to DISCUSS the file with us.  It’s so easy for them to just close a file and move on.  Negotiator did respond.

We just don’t give up. When the going gets touch … the tough get going, tough, tough.  When the going get tough, the tough get ready …

We escalated the file. We spoke with a manager whose brain activity measured above “brain dead.”  We got the file re-opened with a counter offer $50,000 over the offer price.  This was $30,000 less than the first counter offer which was $80,000 above market value.  Make sense? Of course is doesn’t make any sense. Add to that, prior to getting the trustee sale date postponed … the opening bid was over $120,000 LESS than the counter offer.

The buyers needed to come up $50,000 OR we needed to get an appraisal to support the buyers offer. No buyer would pay what the bank was demanding. If a buyer were “brain-dead” enough to offer that much, the buyers appraisal would, shall we say, have some issues.

We asked the sellers to pay $300 for an appraisal which was our only hope of getting the short sale approved and the sellers desire to avoid foreclosure.  The sellers agree to make the investment as their last hope to avoid foreclosure.

I called my appraiser who completed a rush appraisal on Saturday afternoon and had the written report to us that evening. It certainly helps to know appraisers who are willing to work weekends and do what is necessary knowing time is of the essence.  We uploaded the appraisal on Sunday so the negotiator would have it first thing Monday morning.

Sellers paid $300 for a full appraisal which did support the purchase price of $50,000 less than the banks counter offer.  Short sale was approved at the offer price.

Next phase of the San Jose Short Sales challenge – Will the Buyer stick and close?

San Jose Short Sales – $300 Buys Short Sale Approval – by Kathleen Daniels, San Jose Real Estate Agent

San Jose Short Sales – Duty to Disclose

San Jose Short Sales –Duty to Disclose

A buyer sued his California listing agent for negligence, negligent misrepresentation, and deceit (fraud) based on misrepresentation and a failure to disclose.  The case was dismissed by the trial court. The buyer appealed. The appellate court had to decide if the listing agent owed a duty of disclosure to the buyer.

In October 2010 the Court of Appeal reversed a trial court’s judgment holding that “a real estate broker who lists a property that is so over-encumbered that it can only be sold by short sale or if the seller deposits a substantial sum of cash into escrow, the broker must disclose this state of affairs to the buyer.”  [emphasis added]

If a San Jose Realty listing agent is aware that the amount of existing liens exceeds the sales price then the listing agent has a duty to disclose this fact to the buyer. A broker can be held liable for failing to disclose any facts that materially affect the value or desirability of the property which is not known or easily observable to the buyer. This duty helps protect buyers from harm by providing information which allows buyers to make informed buying decisions.

The absence of a San Jose short sales contingency and/or disclosure indicating that the seller agrees to deposit cash into escrow may actually subject the seller to liability to the buyer for breach of contract when the seller cannot perform as promised.

A San Jose Real Estate Agent has a duty to disclose short sale status including when sellers cover the shortfall and lender approval is not required.

San Jose Short Sales –Duty to Disclose – by Kathleen Daniels, San Jose Real Estate Agent.

Time Bombs – San Jose Short Sales

Time Bombs – San Jose Short Sales

It’s what we don’t know that can cause San Jose Short Sales to catapult straight into foreclose. The real challenge is to discover what we don’t know before the foreclosure time bomb explodes.

San Jose Short Sales – Time Bombs in Escrow

We recently had the unfortunate experience of working with an untrained escrow officer at Old Republic Title Company. She became aware of an IRS tax lien on July 29, 2010 and failed to take action to ensure the lien was released so we could close on October 21, 2010.  The escrow officer also did not send the updated preliminary title report to the agents. Therefore, the time bomb ticking in escrow remained unknown to the agents, the buyers and the seller.

We had short sale lender approvals and were ready to close on October 21, 2010.  Buyers and Seller had signed off in escrow. Buyers’ funds were wired to escrow in the morning on October 18, 2010.

  • October 18, 2010 @ 3:11pm, Escrow Officer Rosa Avila sends an urgent email with the subject line: Delay in close of escrow.

Email message: IRS informed me today that they will not provide a release or any kind of written confirmation of release for their liens until approx. 11/30/10. I am currently contacting the short sale lenders to request an extension.

Ka-Boom!!!!

San Jose Real Estate & San Jose short sale agents must understand that importance of choosing a title and escrow company. Failing to choose a title company that is trained in short sales may result in the reason San Jose Short Sales do not close; their buyers and sellers are damaged; and after working 4-6 months they do not receive their hard-earned paycheck.

Time Bombs- San Jose Short Sales by San Jose Real Estate Agent – Kathleen Daniels

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