Our short sale services are provided without charge to our clients. Our typical fee is one percent of the sales price of your property. We either collect our fee from the lender, from the real estate agent’s commission, or from a combination of both, not from you directly. Notwithstanding how our fee is paid, you are out client, we represent you and work to achieve the best possible outcome for you. If you should decide that you no longer wish to continue pursuing a short sale we will close your file upon notification from you without payment being required.
Prior to our initial interview with you we engage a company to perform a preliminary title review to determine potential obstacles to a sale of your property. This company reviews deeds, deeds of trusts and mortgages, lawsuits, foreclosure actions, bankruptcy proceedings and other publicly available information. The company that provides this service does so without payment from you but it does seek payment from your lender in the short sale.
After the title review is completed one of our attorneys will conduct either an in-person or telephone interview with you. The purpose of this interview is to ensure that a short sale is a good option for you to pursue. In some instances we will recommend a different course of action that may better suit your situation. We also take this opportunity to explain the short sale process and answer any questions that you may have. If you are a good short sale candidate we will formalize the attorney-client relationship with an engagement letter.
Once you are a client we work with you to gather the paperwork required by your lender. We will submit this paperwork to your lender on your behalf and work on your case two to three times a week, or more frequently in some instances, to ensure that your short sale is completed or until your lender makes a final decision. We will communicate with your lender in regards to the short sale so you do not have to. We provide regular status updates to you and the real estate agents involved in your transaction so that everyone is fully informed of the progress and efforts being made on your behalf.
Once a short sale approval is issued, one of our attorneys will contact you again to review the terms of the approval and answer any further questions you may have. We will also work closely with the title company to ensure that settlement occurs in a timely fashion. One of our attorneys is available to answer your questions at any point during the short sale process and even after the short sale is completed.