Crazy Sh*t In Real Estate with Leigh Brown - Episode #81 with Belinda Fulton

Moral of today’s story: don’t ever share your title with your
boyfriend or girlfriend. Belinda saw the frustrating effects of
such a scenario play out while dealing with a short sale that
just got WAY too complicated. In this episode, Leigh welcomes
Belinda Fulton, a realtor with 25 years of experience working in
the Cleveland area of Ohio.


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Time Stamped Show Notes: 

00:21 – Introduction for today’s episode

00:35 – Leigh introduces Belinda

00:49 – Belinda started in real estate in 1994, marking her
25th year in the practice

00:55 – Belinda is in the Cleveland area

01:07 – Belinda also lectures in real estate law and
pre-license education



02:20 – Belinda is sharing this story as a precautionary tale

02:23 – “You should never give a title to your boyfriend
or girlfriend”

02:26 – There are short sales where foreclosure can
happen at the same time

02:40 – The banks called Belinda about a foreclosure they
needed to sell

02:47 – Upon checking the listing, it had a lot of issues

02:57 – The owner was alone on his mortgage, but he gave
half of the title to his girlfriend

03:10 – Then, the owner met someone on the internet and
went to California

03:17 – The girlfriend was left behind and she got
married to someone else

04:04 – Leigh calls the story crazy plus two

04:14 – Belinda got a buyer with a good offer and was
just waiting for the bank’s approval

04:25 – Belinda got a call from the title company,
telling her that there’s a new name on the title that has
lien and that it needs to get paid first

04:31 – It’s an IRS tax lien that belongs to the new
husband

05:20 – The Dower law applies to the new couple

06:14 – The bank is holding some of the inventory of the
house and it still hasn’t been fixed



07:00 – In the past, it’s easier to communicate with the
local bank regarding short sales

07:39 – Leigh recommends that realtors to educate themselves
before handling short sales

08:00 – As a consumer, ask other realtors about the situation
before engaging in a short sale

08:42 – Belinda recommends for you to learn the agency
relationships

08:51 – Take advantage of your onboarding training



09:56 – Belinda always tries to be in the buyer or seller’s
position

10:18 – Reach Belinda by email

10:47 – Tweet Leigh Brown for your very own crazy story in
real estate

3 Key Points Before getting involved in a short sale, make
sure you are knowledgeable about the stipulations so you’ll be able
to handle the ins and outs of the transaction. Girlfriends and
boyfriends should never have a part of the title as you’re not
legally together. As a realtor, understand agency relationships by
heart. Credits

Audio Production by Chris Mottram

Show Notes provided by Mallard Creatives

Cover Design by Two Minds Design

Original Music by Rimsky Music