| A potential buyer, in the Tampa Bay area, had | | | | from "flipping" a short sale. |
| expressed interest in placing an offer on a short sale | | | | Some debate whether this is legal or not... ethical or |
| property in Tampa. Upon contacting the Listing Agent | | | | not? If all is legitimate, it would be nice if laws were |
| for this particular property (never did talk to him... | | | | put in place to make it mandatory to disclose this |
| was only ever able to talk to his "Assistant"), I found | | | | information to the Lender(s) and on MLS and to all |
| out that this is an A to B, B to C transaction. (where | | | | involved. |
| A is the original seller, B is a investor and C is the end | | | | There are a few known Agents in the Tampa Bay |
| buyer). | | | | area that are heavily involved with these type of |
| The "Seller" is an LLC company that has been set up. | | | | transactions. |
| They are in contract with the Owner of Record to | | | | Realtors and Buyers: Please be aware when placing |
| purchase the property. The "Seller" has hired an | | | | an offer to do your research on public records and |
| outside company to process the short sale. This | | | | sunbiz. |
| particular company is charging a mitigation fee. They | | | | Sellers: Make sure everything is disclosed to your |
| want the buyer to pay $2000 for a loss mitigation | | | | Lender and all parties involved. You may want to use |
| fee. (Seller and company most likely in bed with each | | | | an Agent that is compensated with the commission |
| other) | | | | to help you sell your home and not from the profit |
| So the "Seller" (B, investor) is trying to make a profit | | | | of a potential undisclosed flip. |