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#236757 - 07/08/08 09:57 AM who do I write the offer too after notice of trustee's sale?
graysqwrl Offline
Member

Registered: 08/16/05
Posts: 197
Loc: 3rd Rock From The Sun
I'm sure if the lender ever calls me back I'll be able to figure this out, but I thought someone might know.

Is it still technically a short sale or can I write the offer to the lender directly? The listing agent has been a pain in the @ss. I made the original offer in April, then finally just requested a 3rd party authorization from the owner. The lender told me days before it was set to go to auction that it was the listing agent that hadn't completed the short sale package and that's why my offer wasn't reviewed. I'd prefer to get the commission myself if I can bypass the other agent at this point. Not to mention, I bet his listing contract has lapsed at this point.

Anyways, at this point...can I write the offer directly to the lender and request a 5% comission?

I'm in Los Angeles County CA.

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#236773 - 07/08/08 11:35 AM Re: who do I write the offer too after notice of trustee's sale? [Re: graysqwrl]
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 8475
Loc: georgia
If the sale has happened either a buyer bought it at the steps or the bank took it back and are setting a price so you will need to wait until it's relisted Reo. It's not a short sale anymore if it's been foreclosed on. If there was alot of equity someone probably bought at the steps for cash.

Call the attorney handling the file for foreclosing or title company(or whoever does it iny our state) to see if it was sold or taken back)

If this was an investment property I would pursue others.

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#236776 - 07/08/08 11:39 AM Re: who do I write the offer too after notice of trustee's sale? [Re: super realtor]
socalreo Offline
Member

Registered: 12/02/06
Posts: 40
Loc: Orange County, CA.
The Notice of Sale is filed 21 days prior to the sale. Until the prtoperty actually goes to sale, it belongs to the owner of record. The lender will not even look at an offer until such time that the property becomes an asset (goes to sale), unless a short sale package was submitted.

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#236781 - 07/08/08 11:48 AM Re: who do I write the offer too after notice of trustee's sale? [Re: socalreo]
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 8475
Loc: georgia
If the sale hasn't happened yet then you can still work the short. However it's not going to happen and get closed in 21 days you can forget that.You will need to get a sale extension even with short sale acceptance for more time to get it closed.

Personally you are dead in the water as an agent because the listing agent is non-responsive and you have to go through them since you are liscensed. If the listing agent i snot the broker you could call there broker and ask why they ar enot submitting offers. If you were not liscensed as an investor you could try to circumvent the listing agent and go directly to the owner and the bank to work the short. Other than that wait for th ebank to take it back and contact them.

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