And the hits just keep on coming. BankUnited was SOLD to a private equity firm. Not a huge shocker I guess. Whether you were keeping an eye on BankUnited themselves or just the banking industry in general, we all know it’s not over.
So how does all of this and events like this effect us Short Sale Agents day to day? Well as I think of most of my short sale listing appointments the first thing that comes to my mind are the home owners in stress with loans from a bank like BankUnited. To most it is a big unknown and a huge addition to their stress. For now I don’t see these sales having a huge impact on my short sale clients or even the negotiations. But I would suggest you do your best to stay current on these events as they will most likely pop up as questions as you meet new clients.
Avoid the knee-jerk reaction to give answers you don’t have. Too many of us Realtors really want to help but completely forget about the legal ramifications to dispensing advice on subject matter outside of our real estate licenses. If you have a client stressed about their bank going through a similar issue, encourage them to contact the bank or do a bit of research themselves. They’ll get the information they need and you get to keep your license for one more year. :o)
For more information on BankUnited’s sale check out the article on Bloomberg.com at http://www.bloomberg.com/apps/news?pid=newsarchive&sid=azOHOtxuEFJY