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Rainmaker
3,071,860
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Coldwell Banker Realty

Yes, many....

Oct 15, 2017 05:06 AM
Rainmaker
613,494
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

Yes.

I also had a short sale where the 1st agreed to give the 2nd $5K and then changed their mind right before closing and only was willing to give them $1K.  

Yes, everyone had signed to agree...which means nothing on a short sale.

The 2nd finally agreed to take only the $1K but the 1st (instead) wanted the buyer to pay the extra $4k which he was not willing to do...

I finally went up the food chain and raised hell.  My ace is always that I will call a news reporter to expose their dirty dealings.  Works every time.

It finally closed at the original agreement.

Eve

Oct 15, 2017 03:36 AM
Ambassador
5,294,435
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Yes, I sure have!

I love Eve's idea to threaten the news media - that would certainly work when other avenues don't! 

Oct 15, 2017 06:37 AM
Rainmaker
5,583,328
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

we rarely did any short sales when they were plentiful....our focus was new construction and the banks worked with our builders to get the homes sold.... worked well for US!!

Oct 15, 2017 06:14 AM
Rainmaker
637,484
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

2nd lender foreclosed except he didn't realize he was 2nd in line. Both got paid off. Both got enough to get paid off.

Oct 15, 2017 05:51 AM
Rainmaker
1,852,231
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Yes I believe it's 6 to 7K somewhere in there.

Oct 15, 2017 05:23 AM
Rainmaker
5,140,989
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I haven't done but maybe three short sales in my life and in none of them was a sec ond lender involved.

Oct 15, 2017 04:19 AM
Rainmaker
1,153,799
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Yes, but it was a couple of years ago and I no longer put the effort into lender's messes.

Oct 15, 2017 08:48 AM
Ambassador
3,357,289
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Oh yes ... many if not most. 

Oct 15, 2017 07:37 AM
Rainmaker
2,223,454
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I have not seen a short sale in a while and I hope I don't see one anytime soon. 

Oct 15, 2017 07:31 AM
Rainmaker
717,769
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Yes, many, many times...

Oct 15, 2017 07:30 AM
Rainmaker
809,258
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

Yep, many. --Kasey

Oct 15, 2017 07:10 AM
Rainmaker
2,792,626
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

When I was assembling parcels for development, offering the second something often helped the "time" process along. They know they are dying on the vine so getting something over nothing makes sense if approached gingerly. Private lenders take it personal while mainstream talked amounts

Oct 15, 2017 07:05 AM
Rainmaker
599,784
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

I've never been involved in a short sale and have no desire to be.

Oct 15, 2017 06:48 AM
Ambassador
2,685,060
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

    I always referred the short sales to a Broker who specialized in shorts. 

   Haven't seen any in a long time.

Oct 15, 2017 06:46 AM
Rainmaker
4,800,132
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I haven't done a short sale in years.

Oct 15, 2017 06:19 AM
Rainmaker
3,416,088
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

In the past we had many second lenders that got a token amount. Get it in writing is the key

Oct 15, 2017 05:37 AM
Rainer
177,949
Dr. Karen Lewis, Broker 954-2489149
Align Right Realty K1 Group - Fort Lauderdale, FL
No Compromise When it Comes to Our Clients!

I have only had a few but they have all gotten paid no more than 3000.00

Oct 15, 2017 04:39 AM
Rainmaker
1,713,076
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Years ago.

Oct 15, 2017 04:21 AM
Rainmaker
4,434,177
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Yes

Oct 15, 2017 03:31 AM
Ambassador
6,464,866
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Not planning to ever get involved in a short sale.

 

Oct 15, 2017 08:31 PM
Rainmaker
794,665
Abby Stiller
TOP SELLING REALTY - Cape Coral, FL
SW Florida (239) 284-8637

Yes

Oct 15, 2017 07:23 PM
Rainmaker
3,986,308
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Yes, $4550

Oct 15, 2017 06:41 PM
Rainmaker
3,988,013
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I have worked on short sales where the second lender refused to lower the balance or negotiate and said let it go to foreclosure.

Oct 15, 2017 06:37 PM
Rainmaker
1,511,483
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Yes.  They either agree or they risk getting nothing in a foreclosure.

Oct 15, 2017 04:10 PM
Rainmaker
7,913,941
Roy Kelley
Retired - Gaithersburg, MD

It has been several years since I was involved with a short sale.

Oct 15, 2017 09:17 AM
Rainmaker
1,732,427
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Early after '08; yes. After the procedure got tweaked; no

Oct 15, 2017 09:00 AM
Rainmaker
4,320,142
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

No.

Jun 07, 2018 09:46 PM
Rainmaker
5,895,142
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Have only done two short sales and decided that was not my cup of tea.  One closed, the other did not, due to the 2nd lender demanding  more money.

Oct 18, 2017 06:32 AM
Ambassador
3,176,984
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Had a second get $30,000 paid by the first mortgage holder at closing.  House was more than 1M

Oct 16, 2017 02:13 PM
Rainmaker
763,515
Peter Testa
Kiwi Homes - Danbury, CT
PETER TESTA

Yes, I've negotiated much more.  Some Investors won't take $3,000-$6,000. It's not the norm, but for that select group of 2nds... real hold-outs... that is what must be done. It wont work on FNMA deals.

Oct 15, 2017 09:44 PM
Rainmaker
994,052
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

I have only negotiated one short sale, the rest I've hired a negotiator so I've not been privy to the information nor did it really matter to me as long as my client was ok with the sale - that's what was most important to me

Oct 15, 2017 05:13 PM
Rainmaker
5,073,024
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

No..we have very few shortsales and I don't due them refer them to somebody qualified.

Oct 15, 2017 10:09 AM