Tuesday, December 12, 2006
Just came from a great class given by our local IPX 1031 Exchange guru Ron Ricard hosted by Fiona Tsang at Chicago Title. The class was on short sales and the foreclosure process. Apparently very few of those happening in the South Bay or the Peninsula. Defintiely more in the outlying parts of the Bay Area. Very interesting fact that all Realtors should know: you can NOT represent an investor buyer who is buying a home from an owner-occupant seller who is in distress (read: short sales and foreclosure situations). That's the law folks. Unless you want to spend time in some of the state's less desireable hotels (read: San Quentin). I know, the law does not make sense in certain situations. It would be nice to have representation all around. Talk to your local councilmember... Comments?