Short Sales Attorney
Many businesses face the challenge of closing their doors if they can’t pay off their debt or raise enough money to stay afloat. A short sale is one way these businesses can sell their property in a time of need without suffering as big of a financial loss.
If you are facing foreclosure, it’s important that you obtain legal advice from attorneys who practice law specializing in short sale transactions. If you don’t ensure that your case is properly filed and handled by an experienced short-sale attorney, you could lose the opportunity for a quick, hassle-free solution.
At Kelly Legal Group, we aim to help people get back on track with their debt-free lives. Our short sales attorneys understand how challenging it can be when you’re dealing with the pressures of creditors constantly calling and threatening to take away your property. Whether you are a seller in a short sale process or a prospective buyer, we will work hard to protect your interests and ensure you get what you deserve.
If you have legal questions about selling your property through a short sale, contact us at (512) 505-0053.
What Is a Short Sale?
The term “short sale” refers to the process where a borrower sells their property for less than the amount owed on the mortgage. The difference between this amount and what they owe on the property ends up being paid off through the proceeds of the sale. This arrangement allows individuals to avoid losing their property to the bank.
Typically, a short sale occurs when the property owner has fallen behind on mortgage payments and the lender, usually a bank, decides to foreclose on the property. The borrower may accept a lower price for their property to prevent a complete loss.
Benefits of a short sale include:
- Ensuring you do not go bankrupt
- Keeping you out of foreclosure
- Keeping you out of legal trouble
- Avoiding your name being listed in public records
- Getting rid of a bad investment
How Our Commercial Real Estate Lawyers Can Help?
When dealing with a short sale, it is important to note that real estate agents can’t provide legal advice or legal representation during a short sale.
At Kelly Legal Group, we understand how distressing this situation can be. Short sale lawyers have experience helping clients navigate the complex world of real estate law. They know how to effectively communicate with lenders to negotiate a fair deal for borrowers and get the short sale approval.
Liability Release: The lack of clarity about whether the seller is protected against deficiency judgments can cause problems down the road. Short sale attorneys will secure a release from personal liability so that the seller doesn’t owe any additional amounts after the short sale closes.
Protecting Assets: If the bank is taking a loss on a short sale, it’s very likely the bank can scrutinize the property owner’s other assets to offset the losses. Short sale attorneys can help safeguard those properties and keep them out of the hands of the bank.
Peace of Mind: When dealing with a long, drawn-out foreclosure process, uncertainty is one of the most stressful things. Kelly Legal Group can offer you peace of mind knowing that if there are issues in the negotiations, we can step in and get you the best possible result.
We help our clients by providing the following services:
- Reviewing documents
- Writing contracts
- Sale preparation and coordination
- Title search
- Loan modifications
- Foreclosure defense
- Bankruptcy defense
- Real estate litigation
Contact Short Sale Attorneys in Austin, Texas
Whether you are a real estate agent, property owner, or buyer involved in a short sale, contact us today to discuss your options. We offer free initial consultations, so don’t delay; call now at (512) 505-0053 or contact us online.