Boston Real Estate Blog : Blog Archive : Real Estate Agents Defrauding Banks in Short Sales

imagesCAMA3AGC With the background and current relationships that The Paris911 Team has with Law Enforcement, on both Federal and local levels – this story, at the link above, did well to chap our hides.

As if there aren’t enough games going on with the Real Estate market.  One case is Agents that are holding personal inventory to get their own buyer, even when the buyer comes to the table represented by a very capable agent with a great offer, approved outside of the other offers received.

With listings not being placed into the MLS – despite the requests of the seller so the agent can inform those attending the exclusive open house, the only way they can get the home is through that particular agent.  In fact, we have had clients that have visited these types of open houses reporting to us later, “They told me that we could not use you to purchase the home – We said NO WAY..”

Honorable and we are thankful.  That is why our Buyers meeting is so important so we can inform prospective purchasers of real estate about all of the Real Estate Market highlights, cons and scams.

Short Sales are a whole different animal. The best resource you can find will be one on a local level.  Choose a Team that holds several Short Sale certifications, these certification assist with the approval process.  When we approach a bank with our credentials, they are faster to respond and less likely to play the games that usually expedite the Short Sale approval process.

“They utilize a professional Negotiator…” – GREAT, however, you might want to consider a couple of things.  What is the professional negotiators interest in handling your short sale?  Money.  There is no relationship and desire to keep in your good graces because you will never be dealing with them again.

When it comes to our clients that are utilizing our team to handle their Short Sales – We have hired a Professional Short Sale Negotiator within our Real Estate Team.  He works in our offices at REMAX of Santa Clarita.  He answers directly to Paris and I and holds more credentials than most of the “outsource companies”.

He understands that we need our clients to be well protected and that we want to have our clients come back to us when their credit profile has been repaired so we can assist them with their next home. 

That is our approach to the Short sales.  Our list of successful Short Sale negotiations is lengthy and from most all of the major banks and some small ones.  We will not allow our clients to sign off on a short sale that will cause them harm in the future.  No Short Sale negotiation can be guaranteed, that is why we have you contact several different sources with regard to Legal and Tax implications of a Short Sale.  The same rule should apply to any other agent’s Outsourced Negotiator.  The difference with our team is that you have a much higher level of accountability.  We are always going to be available if you have future problems.