Web Short Sale

[Kristian Peter]

We recently starting working with a group of attorneys in CA that negotiate every aspect of the Short Sale, and provide legal services directly to the seller. The best aspect of the attorneys is that they charge the bank their legal fee, and we pay nothing, the buyer and seller pay nothing, and the real estate agents keep their 6% commission.

Has anyone else used a similar service, and what were the results?

[Scott Hubbard]

If your a real esate agent representing the seller and marketing the property to a retail buyer, than I do agree with Mr. Peter that hiring an attorney is a good option. Especially in California since you need to be licensed or work under an attorney.

However, if you are an investor snd your primary goal is to get the best deal possible, then it is not a great idea becuase the costs absorbed by the seller is a dollar for dollar loss in your discount. So, in my opinion, as an investor, you will be very disappointed in an attorney's performance mainly becuase they will hire a negotiator like myself and charge a little extra for themselves. Since I charge the same whether the deal comes from an attorney, agent, or investor, then it is much higher net charge when an attorney is involved.

Look, since the buyer brings in new money, it does not matter which side of the HUD is charged, it all comes out of the buyer's pocket as all lenders look at the net proceeds from the sale. So, implying that the attorney's fees are paid by the seller are inheritantly incorrect. Not too mention, it does takes attorneys longer because they have to read over every document...thoroughly.