Posts Tagged ‘short Sale’

Realtors, caution on offering up legal advice!

November 4, 2009

With the number of short sales taking place around the country many realtors may find themselves providing legal advice. In the event you have a client completing a short sale it is prudent to allow your client to consult with an Attorney to make certain nothing in the short sale agreement with the bank would expose your client to further liability down the road. Not to mention your Broker will appreciate you being proactive in protecting his business interest. We live in a litigious society and now more than every you need to make sure you don’t stray from your scope of expertise!


Are you short selling your home are you protected?

November 4, 2009

In some cases you may be responsible for any balance owed between the sales price and the amount you owe. Banks may retain the right to obtain a Judgement for payment. You should always have an attorney review your short sale agreement from the bank prior to executing the sale. In some cases you may be better off allowing the bank to foreclose on the property!