Hi there this is Derik Lewis with Lawyers Realty Group here in Southern California; thanks for joining me again today on my short sale blog. Right now we’re talking about whether or not you need to have an attorney involved in your short sale transaction.
I’ll start by saying you absolutely have to have a broker involved; you need someone to handle the real estate transaction, to list and sell the property, as in any other transaction. But when evaluating whether to have an attorney involved on your short sale, you need to look at the facts behind a short sale. You’re in default on your contract, that means you’re in breech and you’re asking the lender to settle and waive their ability to come after you. It’s basically a settlement of a legal issue and I think most people would say they would want an attorney involved in this process, but they can’t afford it.
That’s why I formed Lawyer’s Realty Group. I get to bring my legal knowledge and background to represent you in the short sale process, review the documents, make sure your approval letters have the proper releases and that the lender isn’t reserving the right to come after you later on. I’m able to do this without charging you for the legal side because I’m also a broker and can handle the regular transaction. I can also get the lender to pay the commissions and fees that are involved in the short sale transaction.
I welcome any questions so please visit our website at www.LawyersRealtyGroup.com where you can submit short sale questions to me directly. There are also a number of other resources out there regarding short sales, so please take advantage of this today. Remember, your lender has a lawyer and you should, too.