Foreclosure Rules changing for investors using LLC’s

    Santa Clarita Foreclosure News:

    A lot of changes to the Santa Clarita Distressed real estate market as of late.  Some of the banks are now wanting further information from the LLC’s of investors that are buying up the Short Sales and REO’s.  We had a case with a Short Sale in Saugus CA where we are representing the seller.

    The offices of the Paris911 Team at REMAXA LLC had written a cash offer on the short sale property.  A week ago the Short Sale Bank sent us word they require some more “detailed” information about the LLC before accepting their offer.  If they don’t give up the info, they will not approve them in the buying of the short sale.  For some reason, the information the bank requested seems hard to come by 🙂

    It was not like, “Oh that, I’ll send it right over…”  It was not like that at all.  It was more like, “Really?  The Bank is requesting those documents?  We are going to have to speak with our attorneys, our CPA staff and the guy that washes the windows…”  We are still waiting for the meeting of the minds.  However, we did place the home back on the market for sale, subject to the current escrow being cancelled in writing by the LLC.

    More “behind the scenes” changes to the LLC and investor buying scenario.  If this holds true with other banks, it may cut out a lot of investor buyers out of buying our already dilapidated Santa Clarita housing inventory.  

    Good News or Bad News:

    It depends if you are a LLC that is scooping up foreclosures and short sales hand over fist.  If you are a regular, run of the mill, garden variety Owner Occupant buyer, it may be the best thing that could happen.

    Only time will tell – Enjoy our Foreclosure Updates and please let The REMAX of Santa Clarita Paris911 Team know when you are ready to have us represent you with your real estate endeavors.

    BTW – if you are considering having your home sold short in the Santa Clarita Cities, make sure you are working with a team of Short 
    Sale Experts.  Don’t go it alone and don’t do it without a Local Real Estate team that have a prove track record of performing Short Sale miracles. 

    Santa Clarita Foreclosure Alerts:

    Your New Foreclosures alert, All Santa Clarita Cities – NOD filings – Updated, found a match.

     

    Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

    Preforeclosure 312745 27541 EVENINGSHADE AVE CANYON COUNTRY 91351 CA SFR 982 3 2.00 03/07/2013 $198,045.00 $564,218.00

    Your New Foreclosures alert, Paris911’s Auction Alert for Santa Clarita Valley, found a match.

     

    Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

    Auction 507635623 22258 TRINITY PL SAUGUS 91390 CA SFR 2962 5 3.00 12/04/2012 $532,740.00 $645,527.00

    Your New Foreclosures alert, Paris911’s Santa Clarita Bank Owned Real Estate Alert, found a match.

     

    Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

    Bank Owned 558099188 20131 CANYON VIEW DR CANYON COUNTRY 91351 CA UNK 11/14/2012 $0.00 $159,885.92

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    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.

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