While I truly believe
America is the greatest place in the world to live and is the land of
opportunity, it is also the land of the opportunistic. This dark under belly
all too frequently comes out when good people are desperate such as in selling
a West Sacramento Short Sale and now with the
tight inventory BUYING a West Sacramento Short Sale.
I had a recent Short Sale listing in Sacramento where
an uninformed agent offered the seller a cash incentive to accept his clients
offer.
Now this is wrong on so
many levels it is hard to hold back. First off, except in rare circumstances,
Agency prohibits the buyer’s agent, also known as the Selling Agent, from
discussing the transaction directly with the seller. But putting that aside,
offering the seller a cash incentive could constitute a case of mortgage fraud
which is a Federal crime investigated by the FBI.
You see most West Sacramento Short Sale approval letters
are explicit about the seller receiving no proceeds from the sale of the
property unless it is approved by the West Sacramento Short Sale Lender and in
shown on the HUD and is formally approved by the West Sacramento Short Sale lender.
The good news is my
seller told me about the offer and we made sure this agents’ offer was not
considered. Can you imagine what might have happened if the unsuspecting seller
had accepted what amounts to as a bribe and someone found out? I shudder to
think about it.
Other forms of
well-intentioned but potential fraud include making payments to any party i.e. 2nd or 3rd lien holder, other lien holder, HOA,
third party or other entity that is not disclosed on the settlement statement
or HUD as
it is called. If the West Sacramento Short Sale is cancelled and
those payments are made that is a whole other subject, but during the West Sacramento Short Sale it’s a real
no–no, no matter how well intentioned it is.
I know it is easy to get
wrapped up in trying to find work arounds and get a deal closed but stop and
consider ALL the ramifications before acting. Usually if it feels wrong it is.
Is a West Sacramento Short Sale Right for Me?
To get a better idea of when your West
Sacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info for
a free estimate or call me today for a free no obligation consultation or for the latest West Sacramento short sale information.
Call me today and sleep better tonight; you’ll be glad you did
No comments:
Post a Comment