GetBig Gurus: need tips on navigating a possible short sale purchase

[Tre]

I'm in northern CA and looking to buy a 2nd home here in the Sacramento.

On the previous purchase, I used a realtor and wasn't all that happy with the arrangement.  My daughter's mother and I did all the searching and never once did the realtor locate for us a property that was within our specs.  She did go out with us a lot, though, as we needed her keybox access.  But the kicker was that she would always try to steer us away from short sales and foreclosures. Finally had enough and demanded she move forward on a foreclosure if she wanted to keep us. I then took away about half the commission she felt she was entitled to and made her pay 2-3 months of the property tax out of her end.

Now, the new realtor knows a bit of the backstory and is on notice that I won't put up with much shit.

But so far, she has:

1) Failed to notify my about a steal right under our noses (this one was only on the MLS for about 12 hours, because the seller and buyer had actually been in contact since the trustee sale) and then didn't even TRY to negotiate it away from the new buyer. 

2) Tried to get me to offer full price on a property that was just ok for me

3) Suggested that we not consider any short sales, even though there's one that I like and another that I really like

Needless to say, sometimes, you've just got to do stuff on your own.  The plan is to call the managing agent directly, but aside from indicating that I'm a no-BS guy ready to make a cash purchase, how should I go about getting him to start the sale process on a short sale or pre-foreclosure?

Am I wrong in assuming that they want to collect their commission and clear their books asap?

[James Blunt]

Should have disguised this in a would you hit it.

[AC Slater]

i am confused about your usage of 'short sale'

this generally means selling something that you do not own.

Considering you are paying cash, I would think they would get on their knees and throw in a free blowjob during these times.  Something is off.

[Jonny34]

I'm in northern CA and looking to buy a 2nd home here in the Sacramento.

On the previous purchase, I used a realtor and wasn't all that happy with the arrangement.  My daughter's mother and I did all the searching and never once did the realtor locate for us a property that was within our specs.  She did go out with us a lot, though, as we needed her keybox access.  But the kicker was that she would always try to steer us away from short sales and foreclosures. Finally had enough and demanded she move forward on a foreclosure if she wanted to keep us. I then took away about half the commission she felt she was entitled to and made her pay 2-3 months of the property tax out of her end.

Now, the new realtor knows a bit of the backstory and is on notice that I won't put up with much shit.

But so far, she has:

1) Failed to notify my about a steal right under our noses (this one was only on the MLS for about 12 hours, because the seller and buyer had actually been in contact since the trustee sale) and then didn't even TRY to negotiate it away from the new buyer. 

2) Tried to get me to offer full price on a property that was just ok for me

3) Suggested that we not consider any short sales, even though there's one that I like and another that I really like

Needless to say, sometimes, you've just got to do stuff on your own.  The plan is to call the managing agent directly, but aside from indicating that I'm a no-BS guy ready to make a cash purchase, how should I go about getting him to start the sale process on a short sale or pre-foreclosure?

Am I wrong in assuming that they want to collect their commission and clear their books asap?

They just want to make money off you. They wont make a lot off a foreclosed house or a house from a short sale. They pobably think, since they are using up there time showing you properties, they might as well and show u the higher priced homes so they make more money. You are better off going around yourself sometimes, or hopefully you can find an agent/auction/bank that you can do business with.

[bigdumbbell]

call the bank and tell em. i'm not big on realtors either. fuckem

[ShipSekki]

 Sactown niggahs reprezent! Thizz or die you beezy! Gettin hyphy up in dis bitch.

[Tre]

i am confused about your usage of 'short sale'

this generally means selling something that you do not own.

Considering you are paying cash, I would think they would get on their knees and throw in a free blowjob during these times.  Something is off.

In real estate, a short sale is an attempt by the current 'owner' to sell a property for less than they owe to the bank.  Not all banks will approve short sales and even if they do approve, they'll often leave a property on 'active short sale' status and field multiple offers over an extended period of time, like 6-9 months. 

Right now is a great time to move vacant properties in this area (limited number of homes here, best neighborhood in the region, country club), but what I suspect is that the real estate agencies that are managing foreclosure clusters are creating an artificial inventory shortage by deliberately keeping these empty homes off the MLS and trickling them out a couple at a time.  And because of the CCRs, you rarely see 'for sale' signs in the yards and it takes time for title transfers to be recorded, so you have to drive around and look at the properties yourself to know what's available.

[newmom]

Tre, I was a real estate paralegal for 3 years in Connecticut.. Here I did the searches and conduct short sales with banks on behalf of the seller...

why on gods green earth is your agent trying to veer you away from short sales. That shit is posted all over MLS..If you have any questions please feel free to pm me

[tbombz]

Tre, I was a real estate paralegal for 3 years in Connecticut.. Here I did the searches and conduct short sales with banks on behalf of the seller...

why on gods green earth is your agent trying to veer you away from short sales. That shit is posted all over MLS..If you have any questions please feel free to pm me

cant speak on behalf of the realtor, but i would just point out that the housing markets in connect-i-cut are not the same as the ones here in cali.

[newmom]

Actually agents make money on short sales. When I would be notified by the agent, I would do a HUD for them to show what the bank would get in the short sale (this would be before I would search it) I always put a 8 percent for the agents 3k for the lawyer, adjust for taxes (Id call the town hall and check the status) and adjust it on the front of the HUD. It would be submitted to the bank for their approval. Usually the bank would say agent commission 6 percent and atty fees only 2k for example.

[Tre]

Thx, Newmom.

Out here, agents think they're automatically entitled to 3% commission, and most buyers and sellers don't realize it's just an arbitrary number. 

And even if I'm planning to lower my girl's commission to 1-1/2 or 2%, she's much better off handling *any* purchase I want than trying to hold out for something more expensive.  She already knows how cheap I am! lol

[newmom]

yea when it came to short sales and I was prepping the HUD form, I always went higher on the commission, usually the bank would say 5 percent to the agents then I'd change the numbers around for the bank and stuff..

Not sure about out there, do the agents get a listing agreement with the sellers and stuff. Yes agents need to take what is handed to them I know most out here do