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Friday, April 30, 2010

California GRI classes for the week of May 3

GRI Schedule

San Jose - May 4 (Tue) - GRI #111 Investment Prope...
Anaheim - May 4 (Tue) - GRI #111 Investment Prope...
Pasadena - May 5 (Wed) - GRI #107 Technology Appli...
Santa Rosa - May 7 (Fri) - GRI #110 Marketing, Finan...
Corona - May 7 (Fri) - GRI #100 Agency Relations...
Corona - May 7 (Fri) - GRI #101 Ethics, Professi...

More information: All GRI schedules | How to Register | (888) 785-4800

Friday, April 23, 2010

California GRI classes for the week of April 26

GRI Schedule

Pleasanton - Apr 28 (Wed) - GRI #100 Agency Relations...
Pleasanton - Apr 28 (Wed) - GRI #101 Ethics, Professi...
Bakersfield - Apr 28 (Wed) - GRI #102 Trust Fund Manag...
Bakersfield - Apr 28 (Wed) - GRI #104 Fair Housing...
San Gabriel - Apr 30 (Fri) - GRI #111 Investment Prope...

More information: All GRI schedules | How to Register | (888) 785-4800

Wednesday, April 21, 2010

Arcadia AOR Tech Together Expo Recap

Arcadia Association of REALTORS® 14th Annual Tech Together Expo
We would like to thank everyone that stopped by the GRI booth at the Arcadia Association of REALTORS® 14th Annual Tech Together Expo. We had a great time speaking to GRI designees and educating everyone else about the GRI designation.

Congratulations to Linda Cheng from Mandarin Realty Corporation in Monterey Park for winning the GRI door prize.

For those that did not have a chance to attend the expo, please call us at (888) 785-4800 if you have any GRI related questions or browse our frequently asked questions section of our website.
Arcadia Association of REALTORS® 14th Annual Tech Together Expo
Arcadia Association of REALTORS® 14th Annual Tech Together Expo

Arcadia Association of REALTORS® 14th Annual Tech Together Expo
Arcadia Association of REALTORS® 14th Annual Tech Together Expo

Arcadia Association of REALTORS® 14th Annual Tech Together Expo
Arcadia Association of REALTORS® 14th Annual Tech Together Expo

Arcadia Association of REALTORS® 14th Annual Tech Together Expo
Arcadia Association of REALTORS® 14th Annual Tech Together Expo

Friday, April 16, 2010

California GRI classes for the week of April 19

GRI Schedule

Fresno - Apr 22 (Thu) - GRI #100 Agency Relations...
Fresno - Apr 22 (Thu) - GRI #101 Ethics, Professi...
San Diego - Apr 23 (Fri) - GRI #112 Environmental Co...

More information: All GRI schedules | How to Register | (888) 785-4800

Friday, April 9, 2010

California GRI classes for the week of April 12

GRI Schedule

Laguna Hills - Apr 13 (Tue) - GRI #102 Trust Fund Manag...
Laguna Hills - Apr 13 (Tue) - GRI #104 Fair Housing...
Antioch - Apr 15 (Thu) - GRI #102 Trust Fund Manag...
Antioch - Apr 15 (Thu) - GRI #104 Fair Housing...

More information: All GRI schedules | How to Register | (888) 785-4800

Thursday, April 8, 2010

Short Sales?

Vicky L. Campbell by GRI Instructor Vicky L. Campbell, GRI, CRS, LTG, PMN, SRES

Teaches GRI Courses 100, 101, 102, 104, 106

View future classes taught by Vicky L. Campbell
What's a person to do? Be very careful what you tell or advise your clients to do! As agents, we are constantly asked what they should do. You are not an attorney or a tax consultant and should not be answering these questions.

Maybe you should say: "It depends." "You really need to talk to an attorney or a tax consultant or CPA that knows your situation in order to find out what the best plan of action is for you!" Well, is it a Recourse or Non-Recourse loan? You should not answer that question either! Even if they live in the home, they may have refinanced it or own other property, which will change the outcome! I think we who advise our clients will be liable if they do get hit with a tax bill or a creditor/collector calling them after we close that short sale. They are going to blame us for giving them the wrong advice!

Please be careful what you say or acknowledge! Use the Legal Q & As provided by CAR and NAR.

I recently received a copy of an email sent to one of my past clients who used a Short Sale Specialist for the sale of a home that was upside down. It started with "Congratulations, we got Short Sale approval!" Then attached was the letter from the Bank that had language in it that they reserve the right to collect any and all deficiencies and that a 1099 would be issued for that deficiency. So, guess what, that is not good for the client. The agent went so far as to say: "They all have that language but they cannot collect from you as this is a Non-recourse loan! I have done hundreds of these! None of my other clients have had a problem signing this!" I immediately told my past client that the way I read it, the lender has recourse and she should definitely talk to an attorney!

Thank goodness, she listened to me and the attorney told her absolutely Not to sign the agreement. He also went on to say that no one should sign any of these agreements from any lender without the bank signature on it. Always have an attorney review any documents that your clients are receiving from the lenders on short sales and or loan modifications.

We should not be advising our clients, friends or family as to the legal ramifications of these documents! If it sounds too good to be true, it is probably no good at all!