A short sale is a transaction where the owner is selling the property for less than they owe on the home. Short sales allow an owner to sell their home rather than face foreclosure. A short sale must be approved by the homeowner’s bank.
A short sale can be an excellent investment, but they are typically complicated transactions as well. At Sound Counsel Realty, we will guide you through the process and provide the representation you need to successfully purchase a short sale or sell your home as a short sale.
Please note: Because short sales carry a lower rate of success, higher risk and require substantially more work than traditional transactions, we do not refund commissions to buyers. Banks are charged 3% when we handle a short sale for a seller.
As Certified Distressed Property Experts (CDPE), Sound Counsel Realty works to find solutions for homeowners facing foreclosure. Working with distressed homeowners is not only rewarding, we also believe this service to be a necessary and important obligation in the housing market. Providing legal counsel in the context of distressed homeowners (or for buyers looking to purchase a distressed property) gives our clients a distinct advantage over real estate agents who are not authorized to provide legal advice. Working with banks, sellers, and attorneys on behalf of distressed homeowners is a complex matter with a variety of legal issues. For those facing the prospect of losing their home, you should have an attorney and a real estate agent on your side.