Short Sales: A Viable Option

Due to the tough economy over these last few years, many individuals have been faced with the overwhelming threat of foreclosure. In these situations, homeowners are left with a limited number of foreclosure prevention options. Many individuals, when faced with foreclosure, prefer to avoid the negative consequences of filing for bankruptcy and turn to a short sale instead. Whether you are a homeowner or an agent or broker an attorney from Price Law Group can provide you with the experienced legal representation you need to navigate the legally complex short sale process.

Homeowner Short Sale Negotiation

The legal team at the firm believes that it is very important to be as familiar as possible with the short sale process before entering into negotiations. In a short sale, the homeowner and mortgage lender will enter into an agreement to sell the home for less than the amount the homeowner owes the lender. If negotiated successfully, the money made from the sale will be turned over to the lender and the entire debt owed to that lender will be satisfied.

Given these tough economic times, mortgage lenders are more inclined to enter into short sale negotiations. An attorney can accelerate the process while protecting the homeowner's interests in order to achieve the outcome you desire. Having a powerful legal team by your side can help ensure that any issues are immediately addressed and the sale moves forward according to plan.

Representation for Realtors and Brokers

It is important to note that DRE, MLS boards and National Brokerages are now requiring agents to include an attorney in their short sale transactions due to the many legal implications involved. One key advantage of involving an attorney in this process is that by hiring legal representation, Realtors® and brokers can avoid any liability in the sale. If you are an agent or broker about to enter into short sale loss mitigation negotiations, it is very important that you speak to a dedicated attorney to learn more about the negotiation process.