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Vacant Short Sale Property In Santa Clarita, Listing Agent In San Diego, Why So Far?

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AMF13

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
So, I have an order for a vacant property in Santa Clarita listed as a short sale, the listing agent is in San Diego, says MLS. Google maps puts the agent office at > 150 miles from the subject, and a 3.5 hour drive give or take a load of traffic.

Why in the world would they hire an agent so far away?
I have seen others listed with not so local agents, but not this far away.
It does not seem to be in the banks best interest to hire someone so far away.
Will see what they say when I call tomorrow. I'll bet there is a combination lockbox, which works fine for me.
But,it makes no sense, maybe someone can enlighten me. :shrug:
 
D

Deleted member 134708

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Just like appraisers have. Minions. Horny to get into the industry? Drive 300 miles for me minion. When closes, you get the experiance, I get the money.
 

AMF13

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Agent likely related to the short-sale seller.

Good point. Bank did not hire this agent in this case.
But I have seen some where the bank hired a distant agent.
Usually REO.
 

CindyR

Senior Member
Joined
Oct 26, 2003
Professional Status
Certified Residential Appraiser
State
Arizona
maybe he used to live and work near the property and is in the transition phase to his new location. maybe he has an arrangement from the bank for all properties in a certain geographic area. lots of valid reasons why he might have the job.
 

Confident Rabbit

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Gold Supporting Member
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Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Washington
So, I have an order for a vacant property in Santa Clarita listed as a short sale, the listing agent is in San Diego, says MLS. Google maps puts the agent office at > 150 miles from the subject, and a 3.5 hour drive give or take a load of traffic.

Why in the world would they hire an agent so far away?
I have seen others listed with not so local agents, but not this far away.
It does not seem to be in the banks best interest to hire someone so far away.
Will see what they say when I call tomorrow. I'll bet there is a combination lockbox, which works fine for me.
But,it makes no sense, maybe someone can enlighten me. :shrug:
Flat fee, perhaps? We have a number of out-of-area brokers taking local listings for 500 bucks. PITA to get any confirming info on their sales, though.
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Agent meets Loan Officer, Loan Officer becomes head of Short Sales Department ten years later. When I was just starting out I figured out how VA repos worked and I told a friend who was an agent. Eventually Jim made 80% of his business selling VA Repos because he had the inside track. Nothing wrong with it, most likely the agent does most of the lenders work in the area and knows how the process works.

The sales process with realtors isn't dependent on the lister being provincial.
 

glenn walker

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Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
Just do the appraisal .. Where the agent is located is not going to effect your appraised value .
 

Bobby Bucks

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Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
Agent likely related to the short-sale seller.
I've seen a short sale pattern on occasion where the upside down relative had an expired listing which was listed 365 days for 20% above MV, then they get the short sale listing and suddenly discover mold and cut the price in half and try to get yet another relative to buy it....they unload a line of total BS tot he lender with BS estimates to repair. I've jousted with one guy on 3 different properties, it's like whack-a-mole, he's tired of me and I'm tired of him. :)
 

AMF13

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
I've seen a short sale pattern on occasion where the upside down relative had an expired listing which was listed 365 days for 20% above MV, then they get the short sale listing and suddenly discover mold and cut the price in half and try to get yet another relative to buy it....they unload a line of total BS tot he lender with BS estimates to repair. I've jousted with one guy on 3 different properties, it's like whack-a-mole, he's tired of me and I'm tired of him. :)

I've had a few where they tell me this that and the other thing you can't see needs replacement and a huge cost.
Usually I will report what they tell me, say it looks fine to me and I assume it is. Recommend you do physical inspection to see the truth about condition.
These are typically for the bank to approve a short sale, or not. I assume they lie like a rug. :leeann:
 
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