Short Sale negotiating -- Arm's Length transactions?

[Fritz Barnes]

I am ready to do my first short sale negotiation. I have all the docs from the borrower, including the authorization. I called the bank and told them what I want to do and asked where I should send the auth and the short sale package.

I was told if I am buying the house, I can't be the one to negotiate the short sale. They said someone else would have to initiate the short sale process, like the realtor, that it has to be an arms-length transaction.

What am I missing here? I thought this is what short sale investors do, all day long.

Appreciate any help you can give me.

[Eric Einholz]

"Today you are only allowed to process if you are a licensed debt adjuster, realtor or an attorney."

When did that start Nick??     And what's the workaround ??

[Susan Winderman]

So I can't process my own short sale if I am the buyer? (I'm not a realtor.) How would I do it if I don't have a staff or a realtor to do it? Thanks.

[Susan Winderman]

So someone who works for you processes but you are controlling the negotiations? Who does the guy at your office tell the bank that he is?

[Susan Winderman]

Hi Nick, I thought you negotiated the deal yourself. How does this work?

Nick Tang said:

Fritz,

There is many ways to do it, but as for me I am the buyer for my deals and I always get someone else to negotiate the deal on my behalf.

Nick

[Lee Williams]

Ms. Fritz

Can you send me the name and contact

information to the negotiation company

for your short sale.

 

                                    Thanks

                                     Lee,

Tameka Castillo said:

Fritz,

I use a negotiation company. If you would like the name and contact information feel free to reach out to me.

~Tameka

[phone]

[Lee Williams]

Have anyone done any short sale with bank of america (bof)

I find that they are hard to work with, I send them a

authorization to release and they still will not send

me a packets. Appreciate any help you can give.

[Tameka Castillo]

Fritz,

I use a negotiation company. If you would like the name and contact information feel free to reach out to me.

~Tameka

[phone]

[Eric Einholz]

You can make the offer in an LLC.   The LLC can be in your sister's name...

[Gwendolyn Horn]

Hi Fritz:

I'm a Realtor as well as an investor. I can negotiate this for you. I've listed, negotiated, bought and sold many short sales. Give me a call I can help you with this 848-448-5431. Or email me: [e-mail]

Gwendolyn Horn