I know that I have read somewhere about some sort of special certification or experience to look for when trying to find a realtor for a short sale...but I can't remember what it is, or how I search for it.
I thought I could make this work through mod, but divorce is now entering my situation and I think I may have to now try short sale and if that doesn't work, just take a big hit and walk.
Any help is appreciated...
Please contact your county bar attorney council, they may be able to give you a real estate attorney contact info and from them you can find out reliable real estate agent they work with.
I have been doing the same, they gave me a Title company info, they have Attorneys and Realtors who they work with.
This is a very good question!!! First let me address this questions from a seller point of interest. There may be tax consequences and deficiency judgement that the seller most seek out counsel first. Second you will need an experience short sale negotiator that knows what they are doing in your best interests. I have seen and heard so many things that are being done to homeowners out there that just makes me shake my head and wonder how these people sleep at night!!! Most agents are out there using short sales negotiating companies who have never met or seen the seller or their families. I'm sorry to say but some of these agents can not even answer the basics of a short sale!! Just my 2 cents
It doesn't say where Payur is located, but JayBet98, keep in mind lawyers are used in quite a few states for real estate deals. So, for Southern CA, I would recommend looking around for whose sign you see the most, and who is still marketing - leaving those flyers and pads on your doorstep. By now many of the hobbiest RE agents have left the business. Choose someone who has been at it for at least 10 years, so they've got experience from before the bubble era. Also, if they have escrow people within the company, in the same building, it'll make it easier. I used someone for an investment property whose office is in Seal Beach, is very active in the neighborhood the house was located, and his office did pretty much all the faxing and calling. When it was time to get to hard core negotiation, I went to his office to use the phone together. Needless to say, the bank was behond stupid (the bank who took over the other more cooperative bank), but it was very smooth up until that time. He got a few very good strong offers. Stick with the bigger companies, not an "investor" or lone agent, unless you expect a cash offer (really low cost property). Good luck!
Hello JayBet98,Originally Posted by JayBet98
Welcome to the forum. I am very sorry to hear of your situation. I hope that God will help you go through of this very difficult time.
Short Sale is a very hard work and a draining and frustrating process. If you can afford to hire a lawyer with a license to practice Real Estate and Short Sale, it will be best for you. You can check the State Bar of CA for the lawyers license and check if there';s no complaint file for this lawyer and see if he is really licensed by the State of CA. Here's the link:
State Bar of CA :: Attorney Search
You can always negotiate the iawyer's fees, their fees is around $1,500 to $2,500 be sure not to get an hourly charge but a fixed charged. Interview the lawyer how long he's been in Real Estate and how many Short Sale cases he has handled, what is his success rate and make sure that he negotiates that there will be no deficiency judgement will be pursued against you by the lender and in writing. Everything should be in writing.
Or you can hire a Real Estate agent and check the BBB for a good rating, I found my agent through BBB and he's from Century 21. He is very professional and has expertise in Short Sale. You can also interview the real estate agent how long he's been in the business and how many successful Short Sale he's done. You don't pay commission in Short Sale, your lender pays 5% commission to your agent once the Short Sale was approved and the buyer passed all the requirements, money, credit history, job stability. You have to put the house in the market, has a buyer with an offer before the lender approves the Short Sale.
I hope this helps.
God bless you always.
Regards,
Faith
"Pay it forward"
Thank you, thank you for the very helpful information!!!! I have been debating back and forth, and everything in front of me is very OVERWHELMING...I have to try and figure out do I deal with a divorce or real estate lawyer first! eek! I am fairly confident the house will not be a community property issue because was bought only in my name before marriage, and all payments made out of my account/paycheck (plus he's unemployed and unemployment is only slightly more than the payment). I definitely think I need the legal help though to make sure the language ensures no deficiency against me.
I think I may seek out a realtor first, so I can at least get it listed and out on the market...not totally convinced I could even get rid of it, because there's quite a few houses in our development that have been for sale for a WHILE, but I still have a lawn that's alive...maybe that helps? haha
Thank you again!
Hi JayBet98
Maybe i can help answer your questions if you're ineterested. I'm a CDPE and a SFR Short Sale Realtor. Please let me know if i can assist you in anyway.
oneguy
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