In a short sale it is important to start out by having an initial consultation with a real estate attorney. The reason for this is that the real estate attorney can examine your situation and help you to decide if a short sale is right for you. They get paid whether you short sale your home or not so their is no financial incentive for them to tell you to list if it is not in your best interest. A good real estate attorney is versed in every aspect of the laws and legal issues affecting your short sale and can help you foresee any problems that may arise in the future. They can also look over the agreement letter that is delivered by the lender before the sale is completed so that you will know that your best interest is protected.
Your realtor is also important in getting the deal completed but they are not as well versed in the legal system as a real estate attorney is going to be. With all the legal issues facing short sales and the fact that banks are sometimes pursing deficiencies after the short sale is complete it is becoming even more important to have a good real estate attorney. There is no doubt that the bank has an attorney on their end as well. Do you really want your real estate agent trying to interpret a legal agreement that was probably written by an attorney?
My team and I think that it is so important to use a real estate attorney that we are even helping to pay for it. We will pay half of the cost associated with the initial consultation. The only catch is that you use our real estate attorney and that you end up listing the property with us. Our real estate attorney not only provides the initial consultation but will review the payoff letter from the bank and generally answer questions during the process. For more information or to schedule a short sale consultation call Rocky at (520) 413-1520 today.