Understanding short sales

What will an attorney do during a short sale?

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Good question!

Many homeowners think a short sale is between themselves, the real estate agent, the buyer and the bank.

In many cases, yes, it can be completed with just the above participants.

But still, every year, tens of thousands of homeowners choose to have an attorney represent them during their short sale.

Why?

While everyone may have their own individual reasons why they prefer legal representation throughout the short sale process, the benefits are the same across all walks of life:

  • Less hassle & frustration
  • Less paperwork to do
  • You don’t need to become an expert in short sales
  • No more harassment from the collections department
  • Experienced negotiator fighting for you
  • No more annoying calls and emails with your lender
  • Peace of mind throughout the stressful time of having to move

When we represent homeowners throughout their short sale, our attorneys take care of a large portion of the tedious, administrative work such as compiling forms and evidences that back up your short sale.

When it comes time to list the home and sell it, we’ll set you up with an experienced real estate professional in your area whom we trust to get the best possible offer for your home.

Once there is an offer on the table, your attorney will then go to bat for you during negotiations with the lender.

Having someone else submit the seemingly endless paperwork is just one benefit to having a short sale attorney work for you. The biggest difference between the homeowner doing their own short sale and using a lawyer as representation will be evident during the negotiation phase of the short sale process.

When you have to do your own negotiations, it can get incredibly tough. When the lender is shooting down the offer and rejecting everything you feel is sensible about your situation, it puts even more undue stress on most sellers.

If you have started the short sale process on your own and have run into trouble with it (not being able to get the bank to approve doing a short sale at all, a rejection of the offer you’ve received, or if they still want to pursue foreclosure), then an attorney can make all the difference.

There really is no substitute for having a tough-as-nails, experienced attorney who has done this hundreds of times before and knows exactly what to do, say and submit to get the lender to change their mind.

If you think your situation is stuck, or things aren’t going the way you wanted them to, give us a call. You can discuss your situation with an attorney - for free - and find out if you’re being treated unfairly by your lender. It’s possible that the offer you have is totally valid and with the right negotiator, it could get approved. Isn’t it worth a phone call to find out?

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What will an attorney do during a short sale?
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