Please take the time to read this entire email and all attachments.
Attached are three items that we have discussed in Sales Meetings and have sent out in various emails.
The first is a must read article from a past issue of our CAR Magazine. The article is titled "Fraudulent Short Sales" and covers very specific aspects of fraud that we have discussed several times. Let your manager, Sherry or myself know if you have any questions.
The second is an example of a typical affidavit that a title company and or lender might ask that you and your clients sign to make sure that the transaction is "Arms Length" – meaning that the "Transaction has been negotiated by unrelated parties, either of whom is acting in his or her own self interest and or upon the advice of independent professionals…" Several other terms apply such as (but not limited to) the Seller will retain no further interest in the property (as a tenant or otherwise) and that there are no funds or proceeds of any kind being exchanged which are not reflected on the Closing Statement. Please, READ THE ENTIRE ATTACHMENT.
The third attachment is a Short Sellers Questionnaire which could be very helpful in interviewing a seller who needs to do a Short Sale with their lender.
Please review these!
Thanks for your attention and time to read this material, it’s a reminder of our motto, "Quality, Integrity and Productivity".
Patrick
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