Every time we call the real estate agent he says there is “no news.” We would like to speak with the mortgage company for the seller as they are reportedly the ones holding up the process, but the real estate agent will not give us their contact info. Is this normal?

What should we do at this point? I have considered giving like a 5 day take-it-or-leave-it ultimatum to see if that “inspires” some type of action. There are no other offers on this house that we are aware of and it has been on the market for about 7 or 8 months.

Please advise!
Yes, a time limit was put on the offer, which has now expired. We do want this house, so if a higher offer is needed then what type of percentage would get the go ahead below the asking price… The cost isn’t really an issue, but we would like to get the best deal possible of course!

Best answer:

Answer by acermill
Whether or not you obtain the contact name of the mortgage holder, they’re not going to speak with you about this situation. When you engage in short sale offers, this response time often occurs. The lender is most probably not thrilled with your offer, and is biding time to see if a better one comes along.

Sending an ultimatum will be ignored. I’d recommend that you withdraw your offer and start looking elsewhere.

Know better? Leave your own answer in the comments!

Real Estate Traps To Avoid
Real estate is supposed to rival gold as one of the safest investments you can make. As the late rancher (and multimillionaire) Roy Rogers put it, "Buy land. They ain't making any more of the stuff." SEE: Exploring Real Estate Investments So why does a …
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McGuire Real Estate Proudly Welcomes Dave Hobson as the VP, Sales Manager of …
SAN FRANCISCO, CA, Mar 20, 2012 (MARKETWIRE via COMTEX) — Dave Hobson, former director and regional chair for the California Association of REALTORS(R) (CAR), joins McGuire Real Estate's Peninsula team as the Vice President, Sales Manager of its …
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Today, Risk Integrated, a leading provider of quantitative risk analysis software, solutions, and consulting services for commercial real estate, announced that its flagship Specialized Finance System (SFS) has achieved U.S. government FISMA compliance. SFS, a credit risk management system that has been used by banks for more than a decade, handles large, complex commercial real estate deals with multiple tranches and currencies.

The Federal Information Security Management Act (FISMA) is a U.S. legislation defining a comprehensive framework pertaining to the security of software or data systems provisioned to the government. Risk Integrated was measured against a series of standards, metrics and tests implemented by the National Institute of Standards and Technology (NIST) to achieve FISMA compliance.

For government agencies and banks, information security is an extremely sensitive issue, said Dr. Chris Marrison, CEO, Risk Integrated. The fact that Risk Integrateds SFS was granted FISMA compliance shows current and future clients that we are committed to data security. Our system complies with the strict cyber-security standards set by the U.S. government.

Meeting the FISMA standards was a top priority for us,” said Yusuf Jafry, CTO, Risk Integrated. The certification was a very detailed process that involved our system meeting a myriad of NIST security tests. The fact that our system is FISMA compliant means that federal agencies and private sector banks can be assured the SFS has passed the rigorous security hurdles set by the U.S. government.

The SFS credit risk management platform allows a financial institution to properly consolidate all commercial real estate loan data into an enterprise-level, integrated system and assess the risk using Monte Carlo cashflow simulation. It enables institutions to make informed business decisions based on quantitative risk analytics and expert judgment. Risk Integrated recently launched the Outsourced Risk Analytics Service to offer banks a new option for outsourcing their portfolio analytics for commercial real estate lending. Portfolio managers can now send their anonymous portfolio data to Risk Integrateds team of analysts and be sure their data is secure to FISMA standards.

To learn more about the SFS and Risk Integrated, visit: http://www.riskintegrated.com.

About Risk Integrated

With offices in the US and the UK, Risk Integrated, founded in 2001, delivers a complete credit risk measurement platform to leading financial institutions active in commercial real estate lending. We provide detailed risk analytics that can be tailored to individual institutions. The analytics are made available to all users in a full web-enabled enterprise-level system. Over the years, Risk Integrated has delivered risk management and reporting solutions to financial institutions ranging from small regional banks to global commercial real estate banks, the world’s largest bank and government agencies. Our proprietary Specialized Finance System, developed and refined over the past ten years, is also used by asset managers for portfolio management and optimization. Prior to using the SFS, the challenges faced by these institutions included limited ability to report on individual assets or portfolios, time-consuming stress-test reporting, and difficulty in getting grading models to give useful or meaningful results for the highly structured assets. Risk Integrateds technology provides an immediate solution to the challenges and a solid platform for further development if an institution wishes to overlay its own views of the market.

www.BuyAveryRanch.com Call Now 512-423-5626 Property sold 3 Avery Ranch real estate agent, Kenn Renner with Buy Austin ( www.BuyAustin.com ), shows off the Avery Ranch golf course community in Austin, Texas ( http ). Call or text Kenn Renner anytime at 512.423.5626 or email me at Kenn@Buyaustin.com. Check out all the latest Avery ranch info at my exclusive website www.buyaveryranch.com . Avery Ranch is Austin, Texass premiere golf course community with 4000+ homes sprawling over 1800 acres in the city limits of Austin, Texas. Avery Ranch features an award winning 18 hole championship golf course with a full service club house, restaurant and bar. Averys scenic golf course consistently ranks in the top rated golf courses in Texas. A challenging but fair golf course, Averys oak lined fairways and greens are meticulously groomed and cared for. Dramatic lakeside fairways & distant hill country views greet golfers from around the world including celebrities such as actor Dennis Quaid who hosted several golf tournaments over the years. Avery Ranch has been a destination community for home buyers since its grand opening in 2000. Along with one of Austins premiere golf courses, Avery Ranch features a multitude of Amenity Centers that include pools, playscapes, tennis courts, and even an outdoor amphitheater. I discovered Avery Ranch during its pre-development stage and was so excited about the community and that I vowed to be Averys biggest real estate advocate. I studied the …

The Commercial Finance Association (CFA), together with nine other trade associations in the financial services industry, has submitted an amicus (friend of the court) brief to the United States Supreme Court in the case styled RadLAX Gateway Hotel, LLC, et al. v. Amalgamated Bank, Case No. 11-166.

The case involves the right of a secured lender to credit-bid when its collateral is sold in the context of a Chapter 11 plan of reorganization pursuant to the Bankruptcy Code. In RadLax, the Chapter 11 debtor sought to confirm, over the objection of its secured lender, a Chapter 11 plan of reorganization that contemplated an auction sale of the secured lenders collateral but prohibited the secured lender from using its debt, rather than cash, to bid at the auction.

The brief argued that a secured lenders right to credit-bid is a fundamental right, protected by the Bankruptcy Code and universally recognized under state law. As secured lenders have long relied on the right to credit-bid to protect themselves against potential undervaluation of their collateral in bankruptcy, allowing debtors to bar credit-bidding in the context of a Chapter 11 plan would increase the risk of undervaluation, and thus increase the cost and reduce the availability of secured credit.

“The right of a lender to credit-bid is a basic tenet of secured lending. It is gratifying to see CFA participating in an industry-wide effort to protect this right and advocating for its membership before the United States Supreme Court,” said Jonathan Helfat, CFA Co-General Counsel and partner at Otterbourg, Steindler, Houston and Rosen, PC.

According to Richard M. Kohn, also CFA Co-General Counsel and principal of Goldberg Kohn, Ltd., “It was truly a pleasure to participate in this joint effort by many of the nation’s leading financial services trade associations.” The other trade associations who joined in the brief were The Loan Syndications and Trading Association, The American Bankers Association, The Clearing House Association, The Commercial Real Estate Finance Council, The Equipment Leasing and Finance Association, The Financial Services Roundtable, The Managed Funds Association, The Mortgage Bankers Association and the Securities Industry and Financial Markets Association.

About CFA

Founded in 1944, the Commercial Finance Association is the trade group of the asset-based financial services industry, with nearly 300 member organizations in the U.S., Canada and around the world. Members include the asset-based lending arms of domestic and foreign commercial banks, small and large independent finance companies, hedge funds, private equity firms, floor plan financing organizations, factoring organizations, and financing subsidiaries of major industrial corporations. For more information, go to http://www.cfa.com.

www.LakewayRegionalMedicalCenterForum.Com Lakeway Real estate expert Kenn Renner invites you to the Lake Travis Regional Medical Center Forum held on November 1st, 2011 at Keller Williams Lake Travis Market Center. The event will be held from 7 to 9 PM and will also be simultaneously broadcast via streaming web video http . Panelists include David Kreye (Lakeway Regional Medical Center CEO), Susan Bohn (Interim Superintended of Lake Travis ISD), Kenn Renner (Broker / Author with Keller Williams Lake Travis), and Ross Frie (Director of Commercial Real Estate, KW Commercial). For more information on this event, call Kenn Renner at 512-423-5626
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