Join us this Sunday, July 16th as Mark Bisordi, General Manager for North Coast Title Company, talks to us about the scammers out there who intercept or have you falsely wire your down payment NOT to the title company and your escrow account but to a crooks account. One couple in Tahoe recently sent $1.5 million to a scammer and lost the entire amount! NO INSURANCE for this folks! What are the steps to protect yourself? Here are some quick tips!
Call, don’t email! Confirm all wiring instructions by phone before transferring funds. Us the phone number from the title company’s website or a business card. You also have an “opening order” statement. This tell you your escrow number, escrow officer and her/his number
Be Suspicious! It’s NOT common for title companies to change wiring instructions and payment info–be aware and confirm!
Confirm it all: Ask your bank to confirm not just the account number but also the name on the account before sending a wire.
Verify immediately- You should call the title company or real estate agent to validate that the funds were received. Detecting that you send the money to the wrong account within 24 hours gives you the best chance of recovering your money.
Forward, don’t reply–When responding to an email, hit the forward instead of reply and then starting typing in the person’s email address. Criminals use email address that are VERY similar to the real one fora company. By typing in email addresses you will make it easier to discover if a fraudster is after you!
Join Allison and I as we talk about scary moments in our Real Estate careers! Pet Cemetery, Hunted Houses in real life, how to disclose these issues. Do you have a body buried at home? Some older pioneer homes have a few graves on the property. Folks who have died at home? Ghosts and Goblins got you down? Tune in as the Real Estate Hour talks disclosures and real life hauntings!
Marketing of the Property is Inept!—one photo taken from across the street at twilight is NOT
marketing and shows an inherent absence of a “Standard of care” to the Seller.
This can mean a couple of things—the seller REALLY DOES NOT want to sell and is
stalling or the AGENT doesn’t have a clue and is inept—either way NOT a
formulae for success
Property Condition—selling a home is selling a home—Remember- a short-sale simply has
ONE major contingency—getting the bank to take less on the amount owed on the
property. That’s IT! Property should have curb appeal, interior staging or at
LEAST cleaning up, be accessible, have a lockbox and be desirable. If it is NOT
any of the above stay away! Continue reading Sonoma County, California buyers–Avoiding 5 pitfalls of a Short-Sale→
Sonoma County, California, Alli and I have heartbreaking stories with many home owners in “property distress” who DO NOT know the rules or “milestones” associated with the foreclosure process.
First and foremost is ALWAYS open your mail. I know this is daunting when bills are piling up but you COULD have a juicy compromise from the BANK which could stave off foreclosure! Check with top-flight professionals who know the ropes of foreclosure or selling under financial “distress”. We have CPA’s and Attorneys who KNOW the right questions to ask you. And if a “Short-Sale” is a viable alternative then GIVE ALLISON and I a call for a free consultation. Remember, as Realtors we DO NOT charge UPFRONT FEES! We work on a concept known as a “contingent fee” which means basically–we don’t get paid until WE perform and have the OUTCOME you so desire. In the case of a short-sale it would be a successful sale with the banks and all involved lenders allowing you to sell without any further financial consequences for recourse. Talk to us if you are in need! 707-799-3617. Asset preservation–Family preservation!
Here’s the Web site to use this “Calculator” to determine if waking away from your mortgage makes sense. As always, consult with an attorney and CPA to determine any tax liability or possible debt relief issues. This is reccomended by our guest on Today’s Show, Nicholas Carroll in his book, “Walking Away from Debt–for a Better Future”. CLICK HERE to go to the site.
Thanks to attorney Jeremy Olsan for providing us with special updates on Senate Bill 458 plus Scam updates regarding pre-foreclosures, short-sales and Loan Modifications. Invaluable to any of our listeners facing a situation of a distressed property. He wanted me to post these Department of Real Estate articles for our listening audience. Remember- an informed consumer is the BEST foil against scammers and sharks!
1. FRAUD WARNING REGARDING LAWSUIT MARKETERS REQUESTING UPFRONT FEES FOR SO-CALLED “MASS JOINDER” OR CLASS LITIGATION PROMISING EXTRAORDINARY HOME MORTGAGE RELIEF—Here’s the link to the whole article: