Short sales are easier when you know what to say and do!

Learn how to:

• Manage your sellers’ expectations
• Determine a fair and reasonable offer price with your buyer
• Negotiate with loss mitigation departments
• Put it all together using appropriate procedures, forms and checklists
• BONUS:  Learn scripts that will help you protect your commissions!

Negotiating Short Sale Contracts


Sponsored By: Stewart Title and Trust

Held At: 3939 E. Broadway,  Tucson, AZ

1:00 PM to 4:00 PM – Thursday, May 17, 2012

 

Disclose! Disclose! Disclose! Take advantage of the tools available to you that will help ensure that necessary information is passed on as required in short sale and REO transactions. If you are going to play in this arena, be as informed as possible about the processes and the requirements. Helpful hints galore!!



Disclosure In Short Sales & REO Transactions

Sponsored By: Tucson Association of REALTORS®

Held At: 2445 N. Tucson Blvd.

1:00 PM to 4:00 PM – Wednesday, December 7, 2011

What a great story. Bank of America attempted a foreclosure on a Florida couple who didn’t even have a lien on their home. They paid cash. After repeated attempts to get Bank of America to release the lien and the wrongful foreclosure proceeding they sued B of A in court and obtained a judgment which the bank ignored and did not pay.

The attorney for the homeowners did exactly what the bank would have done, he filed the judgment lien against the bank’s property and showed up at Bank of America with movers, sheriff’s deputy’s and an order to seize the desks, computer equipment and cash from the teller’s drawers to satisfy the judgment.

Click Here to See The Full CBS News Story!

Ah…there is justice in the court system.

Our Arizona Association of REALTORS® General Counsel Michelle Lind sums up MARS in an easy to understand article on the AAR website. That article, titled Mortgage Assistance Relief Services (“MARS”) Rule Requirements for Short Sale Brokers, addresses 6 key guidelines which are:

- No Advance Fees
- Disclosures in Advertising
- Disclosure in Communications with Prospective Customers
- Disclosures when Presenting a Short Sale Offer from the Lender or Servicer
- Truth in Advertising Services
- Record Keeping and Monitoring Requirements

The article also contains valuable links to the FTC for even more information! And finally, a link to disclosure forms. We are grateful to Michelle and the Association to provide us with such valuable information!

On Monday, January 31, 2011, Commissioner Lowe traveled to Tucson and delivered a presentation to update members on regulatory changes and new legislation affecting our industry. Commissioner Lowe shared lots of information including:

• New rules pertaining to education instructors and course approval
• Statistics on licensees in our industry
• Insights for completing the Broker Audit Declaration
• Short Sale & Third Party Negotiator Practices Affected by MARS

If you have not heard of MARS, you need to be aware of this important change in federal regulations. MARS stands for Mortgage Assistance Relief Services and is part of a new Federal Trade Commission (FTC) Rule that bans providers of mortgage foreclosure rescue and loan modification services from collecting fees until homeowners have a written offer from their lender or servicer that they decide is acceptable.You can read more about the rule directly on the Federal Trade Commission website. THE FINAL PROVISIONS OF THE RULE BECAME EFFECTIVE JANUARY 31, 2011!

The rule has large ramifications for short sale listing agents who are assisting homeowners with loan modifications. Commissioner Lowe made it very clear that this rule in conjunction with the opinions of the Arizona Department of Real Estate (ADRE), the Arizona Department of Financial Services (DFI), and the Arizona Attorney General that:

1. Listing agents should not participate in loan modification with a lender on behalf of the homeowner unless the licensee has a loan originator license.

2. Licensees are precluded from collecting fees or charging additional amounts for loan modification services.

3. Entities acting as third party negotiators on short sale transactions must possess an Arizona Real Estate License.

The new FTC rule requires new disclosures and contains a number of prohibited claims which must be addressed in all advertising and marketing. Commissioner Lowe indicated that the Department of Real Estate is currently drafting some advisories and disclosures to help licensees deal with the new MARS provision. In the meantime, we encourage you to read the rule referenced above on the Federal Trade Commission website.

Some additional information regarding the impact of the Rule on real estate licensees can be found on the Real Solutions Network blog post.

Thank you Commissioner Lowe for the insight. We appreciate the attention and time you provided to update our industry regarding these important changes.

Short sales are easier when you know what to say and do! Learn how to manage your sellers’ expectations, determine a fair and reasonable offer price for your buyer, negotiate with loss mitigation departments and how to put it all together using the appropriate procedures, forms and checklists. Bonus: Learn scripts that will help you protect your commissions.
Negotiating Short Sale Contracts

Sponsored By: Tucson Association of REALTORS®

Held At: 2445 N. Tucson Blvd., Tucson, AZ

9:00 AM to 12:00 PM – Wednesday, January 19, 2011

Short sales are easier when you know what to say and do!  Learn how to manage your sellers’ expectations, determine a fair and reasonable offer price for your buyer, negotiate with loss mitigation departments and how to put it all together using the appropriate procedures, forms and checklists.  Bonus:  Learn scrips that will help you protect your commissions.


Negotiating Short Sale Contracts



Sponsored By: Landmark Title and Abba

Held At: 6640 N. Oracle, #120

1:00 PM to 4:00 PM – Thursday, October 28, 2010

The subtle nuances of short sales and REO’s!  Once we understand how we “got in this mess in the first place”, we then can explore and discuss specific addenda and contract language that will help you protect your clients while removing the doubt, fear and uncertainty that distressed sales create. This class is sure to uncover some things you just didn’t know but wish you had!  Come and find out just what that might be.


Hot Contract Issues In Short Sales and REO Transactions

Sponsored By: Title Security

Held At: 6390 E. Tanque Verde Rd., Tucson AZ

9:00 AM to 12:00 PM – Thursday, July 8, 2010

Know how to successfully handle the most challenging contractual issues that are encountered in short sale and REO transactions. We will be discussing and sharing specific addenda and contract language that will help you protect your clients and remove the doubt, fear and uncertainty that distressed sales create. Find out what the agents and brokers who have closed REO and short sale transactions had to learn the hard way. 

Sponsored By: Southeast Arizona Association of Realtors, American Guardian, WJ Bradley Mortgage

Held At: Association Offices – 125 S. Second Street, Sierra Vista, Arizona

1:30 PM to 4:30 PM – Thursday, February 11, 2010