Why Using an Attorney Makes Sense in a Short Sale

I have been doing short sales in Las Vegas for the last two years and in the last six months I have been referring my short sale clients to the Paladin Legal Advocacy Center. As real estate agents, we cannot give advice in fields in which we don't specialize in, such as law and accounting. Any Las Vegas Real Estate Agent that has successfully closed a short sale transaction knows that you are operating in the gray area when representing the seller.

There are legal and tax implications in a short sale transaction and it is imperative the seller understands these implications. What we have done for the last six months is refer out clients to a Real Estate Attorney who goes over the implications of doing a short sale. When the homeowner decides to move forward, we list the home and handle the marketing. Once an offer has been submitted and accepted, it is sent to the Attorney who begins the negotiations with the Lender/Bank.

Having the Attorney handle the negotiations is key in making sure the Lender/Bank agrees to the short payoff without any future penalties such as a deficiency judgement or a 1099C. Most Real Estate Agents don't have the experience or knowledge to ensure the negotiations are in the best interest of the Homeowner.

If you are a Las Vegas Homeowner, contact Sena & Associates today at 702.376.0088 and we can discuss the short sale process with you.