What are Short Sales? Short sales occur when the loans against a property are greater than what the property can actually be sold for. Short sales are a solution for avoiding foreclosure and for homeowners to continue to be able to pay off their loan. Short sales are also advantageous to lenders because they can lose money if the property goes into auction.
Hire a Short Sales Lawyer: During a short sale, it is important to get the deed to the property from the homeowner. This is largely because homeowners tend to change their minds or want to re-negotiate, which can cause monetary loss to the investor. Negotiating a short sale can be difficult and getting the advice of a real estate lawyer before setting up a short sale is essential.
Find a Short Sales Lawyer: A short sale lawyer can help ensure that the short sale transaction is completed in a timely manner and that complications are avoided. A short sale lawyer can save you money in case a seller sues you after closing and regains control of the property. If you are considering a short sale and need the assistance of a real estate lawyer, contact Attorney Search Network today. We can help you find a short sale lawyer near you.