SHORT SALES
Have you been approached by a Real Estate Agent concerning a Short Sale on your home? If you have then you need to be informed about the benefits and consequences of selling your home short. It is likely that you are contemplating letting your home get foreclosed on, if this would be a better plan of action.
During this difficult time you need to be fully informed lest you make the wrong decision that could damage your well being for years to come.
Common questions are: 1. Whether you will be liable for any deficiency; 2. If you sign the offer from the buyer are you locked into the agreement?; 3. What are the different consequences for elected to sell your home short in contrast to a foreclosure?; 4. Is my Realtor telling me everything I need to know?
Our office has represented previous short sale sellers against their Realtors that did not apprise them of the true severe ramifications of a short sale. In some cases, it is necessary to sue the Realtor and his or her brokerage for a breach of fiduciary duty.
If any of these questions give you concerns or you have completed a short sale and were not specifically forgiven the debt you need to contact our office at (801) 475-0123. For a reasonable consultation fee of $75 we will discuss the effects of a short sale and provide you with the knowledge necessary to navigate through this difficult decision.