Do all Santa Clarita short sale realtors think as if they are conspiracy theorists?
This question comes about from a recent short sale meeting that was conducted at a local venue. Amongst the crowd were those real estate agents that have short sales as a large part of their real estate business in the Santa Clarita Valley.
When local real estate agents have over 40% of their income derived from the short sale process, it can be assumed that they are pretty good at Short Sales.
As long as they are doing the short sale negotiation themselves and not farming it out to another third party.
That is how we conduct our Santa Clarita short sale business at REMAX’s Paris911 Team.
We hired someone that is working out of our offices, that was associated with a legal firm, but was not being treated fairly.
Another component that you will find out about, when you start signing the short sale contracts, is having a real estate license is very important for a short sale negotiator.
So important in fact, it is mentioned in the Short Sale addendum that is provided by CAR – the California Association of Realtors.
Some agents cut corners. Some don’t have licensed “anything” conducting their short sale negotiation. Some really fall short of the mark expected by short sale sellers in the Santa Clarita Valley.
The reason for my question is that it seemed to me, most of the Santa Clarita short sale experts, that we met with were all a bit “doubtful” of some of the banks true intensions.
We have had our clients called by the “debt collection and foreclosure” department of some of the short sale banks asking them if they wanted to do a loan modification.
This is after we had been in “verified” communication with those bank’s “short sale” department and after the client had attempted to have their loan modified.
While this appears as a “sick joke” to some, to others it appears as if there is something else at play within the walls of the major banks.
California has a new law on the books, reference to short sales and short sale sellers. It’s known as Dual Tracking. Dual tracking is what used to happen when the foreclosure or collection arm at the bank, that owns the short sale, would still work at foreclosing.
This did none of the short sale sellers any justice when it came to them wanting to have their home sold short.
This law will change things from being so much “conspiracy” based to being something that may be able to worked out in a positive light in the eyes of the short sale sellers in the SCV.
Watch out for dual tracking, I’m sure some of those that hold the notes will continue to operate in this practice until they are called onto the carpet to adhere to the new regulations.
Short Sales are time consuming, games are still being played, and the so called “short sale experts” are still in full swing.
Be Safe – make sure you interview our Short Sale Team before you sign up with anyone regarding to your Santa Clairta short sale property.