Comments on: The “Real” Advantages and “Real” Disadvantages of Having a Real Estate License in a Short Sale Flip Transaction http://fridaycoffeebreak.com/2009/12/the-real-advantages-and-real-disadvantages-of-having-a-real-estate-license-in-a-short-sale-flip-transaction/ Weekly Preforeclosure Updates from Patrick Precourt Fri, 16 Jul 2010 06:32:48 +0000 hourly 1 http://wordpress.org/?v=3.0 By: matt http://fridaycoffeebreak.com/2009/12/the-real-advantages-and-real-disadvantages-of-having-a-real-estate-license-in-a-short-sale-flip-transaction/comment-page-1/#comment-264 matt Wed, 23 Dec 2009 15:37:19 +0000 http://fridaycoffeebreak.com/?p=446#comment-264 Hi Pat, Great call with Jason Medley last week, and thanks for the disclosure language you provided. I have a question on one sentence you use, as follows: “The offer by purchaser is below fair market value.” What is the reason/logic in mentioning anything about FMV, or even inferring that you know what FMV is? Could this sentence possibly open you up to questions or potential problems with any of the involved parties, e.g., the short sale lenders? In other words, while it does disclose, does this type of disclosure further insulate you from potential problems or open you up to them? In your opinion, would the following disclosure provide a greater or lesser degree of protection for you: “The offer by purchaser is not meant as an indication of FMV, or a percentage thereof?” Thanks, Matt Hi Pat,

Great call with Jason Medley last week, and thanks for the disclosure language you provided. I have a question on one sentence you use, as follows: “The offer by purchaser is below fair market value.” What is the reason/logic in mentioning anything about FMV, or even inferring that you know what FMV is? Could this sentence possibly open you up to questions or potential problems with any of the involved parties, e.g., the short sale lenders? In other words, while it does disclose, does this type of disclosure further insulate you from potential problems or open you up to them?

In your opinion, would the following disclosure provide a greater or lesser degree of protection for you: “The offer by purchaser is not meant as an indication of FMV, or a percentage thereof?”

Thanks, Matt

]]> By: Cindy http://fridaycoffeebreak.com/2009/12/the-real-advantages-and-real-disadvantages-of-having-a-real-estate-license-in-a-short-sale-flip-transaction/comment-page-1/#comment-263 Cindy Sat, 19 Dec 2009 22:05:33 +0000 http://fridaycoffeebreak.com/?p=446#comment-263 HI Pat, Great content. Really like your ideas, especially the recission agreement. HI Pat,

Great content. Really like your ideas, especially the recission agreement.

]]> By: Kevin http://fridaycoffeebreak.com/2009/12/the-real-advantages-and-real-disadvantages-of-having-a-real-estate-license-in-a-short-sale-flip-transaction/comment-page-1/#comment-261 Kevin Fri, 18 Dec 2009 14:51:18 +0000 http://fridaycoffeebreak.com/?p=446#comment-261 Question about the "rescission agreement" fee. I've been doing a to b, b to c stuff but really like the idea of this strategy. I'd like you to expand more on how that works. That would help me avoid the whole transactional funding, seasoning, etc crap that seems to bog things down. It would also allow me to get a better price to the c buyer by eliminating a lot of my costs. Please expand on that, Kevin (203) 948-9278 Question about the “rescission agreement” fee.
I’ve been doing a to b, b to c stuff but really like the idea of this strategy. I’d like you to expand more on how that works. That would help me avoid the whole transactional funding, seasoning, etc crap that seems to bog things down.
It would also allow me to get a better price to the c buyer by eliminating a lot of my costs.
Please expand on that,
Kevin
(203) 948-9278

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