Short Sale Negotiation in Sacramento

Representing Homeowners and Realtors/Brokers in Short Sales

When a homeowner and lender agree to sell a home for less than the amount still owing to the lender, this is known as a short sale. Due to the many complex legal ramifications of such a transaction, several regulatory and administrative bodies require the involvement of an attorney.

As a homeowner, working with Price Law Group means your legal counsel can answer your questions and advocate for your best interests throughout the process. The proceeds of a short sale go to the lender and in many cases, the debt is then considered to be fully satisfied. Depending on the short sale agreement, however, the homeowner may still be liable for the deficiency. An attorney from the firm can utilize all options available should this issue exist and deficiencies may be negotiated down to save you from having to pay.

The firm also provides legal counsel and negotiation services to realtors and brokers. The Department of Real Estate, Multiple Listing Service boards and national brokerages are now requiring agents to include an attorney in their short sale transaction due to the great many legal implications involved. A major benefit of involving the firm is that their attorneys provide legal counsel to the Seller, thus eliminating Agent's liability in the sale.

Financial Guidance You Can Trust

The legal team at the firm can guide all aspects of the short sale, take immediate action to resolve any issues that arise and keep the process moving toward a successful resolution. Their legal fee is 1% of the purchase price and the majority of the time they are successful in getting this fee paid directly by the lender. This is possible as the charge is listed as a legal fee on the HUD-1 form, as opposed to a negotiation or processing fee.