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Originally posted by Heather Peck: Second, in our state, and most others, you can NOT charge an up front fee on being a short sale negotiator. You can still charge an upfront fee in many states but Nike Leggings Girls

Originally posted by Heather Peck:They consider it fraud because you getting money they should have and it should have been disclosed, so the A to B, B to C deals on short sales are not happening, at least in Las Vegas, the short sale capital.

Two big things here Most lenders have included language that prevents a short sale from being flipped or wholesaled. They consider it fraud because you getting money they should have and it should have been disclosed, so the A to B, B to C deals on short sales are not happening, at least in Las Vegas, the short sale capital. This was happening 6 months ago, but lenders have caught on and are now suing agents and investors on flipping short sales. I be real careful of this scenario.

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Six months ago? Investors have been doing this longer than you have beene alive. I have been doing this since 1994. I speak to negotiators almost daily have they know exactly what investors are doing and they do not care. What gives investors bad names are the ones who do not do it well. It is true you need to be "careful". And by careful, I mean disclose.

´╗┐Short Sale Contract Structure

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the states with the highest foreclosures may have some legislation requiring you to be licensed. If you charge an upfront fee, you should be prepared to go to court at some point in time. I would not want to go before a judge with a plaintiff who has lost their home.

I disagree with you using the word most. Although a few lenders have indeed incorporated language that may prevent back to back closings, there are still many more who do not have prohibitive language. Lenders cannot keep you from flipping a property becuase they do not have equitable interest. However, if there is anti flip language or restrictions it can hinder you or the C buyer from getting title insurance.

Second, in our state, and most others, you can NOT charge an up front fee on being a short sale Nike Joggers Pants negotiator. In fact, in Nevada and many others, you are now only legally allowed to negotiate a short sale if you are a real estate agent in the deal, a licensed mortgage Nike Tech Fleece Pants Women's Grey

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broker or a lawyer.

Though it has been several months since I last negotiated a short sale in Nevada, I did not need one early last year so this must of changed. Can you please point us in the direction of the statute which says a licensee or an attorney can negotiate a short sale?

Your flat out wrong here. It does not matter what the lender or investor considers fraud. It matters what a judge would say. Frankly, I have not seen even one case of fraud where disclosure was made that the property would be resold for a profit. If you disclose that you are flipping the property and the lender accepts your offer, then it is not fraud.

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If I went to a yard sale and bought a piece of artwork and paid only 1 dollar and that very same day listed it on eBay selling only a few days later for $100.00 should I be arrested for theft?

Originally posted by Heather Peck:Second, in our state, and most others, you can NOT charge an up front fee on being a short sale negotiator. In fact, in Nevada and many others, you are now only legally allowed to negotiate a short sale if you are a real estate agent in the deal, a licensed mortgage broker or a lawyer.

Originally posted by Heather Peck:Two big things here Most lenders have included language that prevents a short sale from being flipped or wholesaled.

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There is value added to a deal where an investor has pre negotiated a short sale and clearing title. The investor is also taking on risk in the form capital investment and the risk of using his or her time. Where risk is taken rewards are deserved.

Heather Peck:This was happening 6 months ago, but lenders have caught on and are now suing agents and investors on flipping short sales. I be real careful of this scenario.

There has been an article or two where fraud has occured but this was where a previous offer was held back and a lower offer substituted after the fact. At least on one occasion, this involved RE agents.

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