San Diego Short Sale Specialist

San Diego Short Sale Specialist - questions for short sale experts and lawyers vs Realtors under California law

Since I am a licensed California Attorney it would probably be unethical for a me to call myself a short sale specialist. Even though my law firm did workouts for upside down homeowners in the the 90s, I do not think there is a legal speciality called short sales. Therefore I can not call myself a short sale specialists.

However, my Real Estate license apparently enables me to call myself anything I wish to call myself. I could be a luxury home specialist on a Ranch Santa Fe website and a foreclosure or short sale specialist on another website. Of course I will not jeopardize my law license so you won't see me calling mysef a short sale specialist. But, It think the public should be aware that the California Association of Realtors does nothing or next to nothing about the far fetched claims being made by Realtors.

In my mind there is no subsitute for an intelligent Realtor who really knows the property in your target neighborhood. To weed out the newly minted specialist from a true professional - here are a few questions:

- When did you first claim to be a short sale specialist?
- How many short sales have you completed? Can you give me the MLS numbers?
- How many short sales have you completed in the last three months. Please provide me with the MLS numbers?
- Did you ensure the seller would not be pursued for a deficiency? How? Did you draft the legal releases?
- May I see a copies of your release - feel free to scratch out the names?
- Do you have a lawyer on your team? Will he tell me in writing he represents me or your brokerage?
- Who will answer my legal questions?
- What if we do not get a buyer or an acceptable offer? Do I just take a foreclosure?
- Will a sold out junior lien be less likely to negotiate if the first is foreclosing. Why? Can a lawyer help me with that problem? Are you sure I should go into default on both loans?
- When should I speak with an attorney about a deed in lieu?
- When the Notice of default comes will you have me speak with an attorney then?
- Who will review the paperwork? Are you licensed to explain the escrow documents? How about the legal releases?
- Do I have a non recoure loan? Can you guarantee my Heloc is purchase money. How?
- Could I jeopardize that status if I rent the property, move out, damage the property, or not pay my property taxes?
- Are you sure these are not questions for a lawyer? Will you put your answers in writing?
-What should I do if I am still current? Is it critical that I understand about sold out juniors before I stop paying my loans?

If the lender agrees to do a short sale - will you tell me to sign the closing paperwork? Will you put your advise in writing regarding what the closing paperwork means?


Short Sale Program
^*Email Address
^*First Name
^*Last Name
Best Phone Number
Has this property been your residence	yes since purchase Never Part of the time
Zip Code where property located
Are you Current on your Loans	Yes No Yes on 1st but not 2nd Not on 1st but yes on 2nd
Type of Property
At time of Purchase - you took out	1 Loan 2 Loans 3 Loans
Now you have
Which loans have been refinanced?
Have you Taken Cash Out
Indentify Home Equity Lines of Credit	1st 2nd 3rd
Total Owed
Approx Value of House
Please contact me
Goals	No deficiency Minimize credit damage Short Sale Deed in lieu Short Payoff Soften up Lender with Lender Liability Letter
Do you have a Realtor
How long has the property been listed
Do you have an offer in to the lender
Which loans are late	1st, 2nd, Both
Has a Notice of Default been filed
Date of NOD if any
Comments
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Last Updated ( Sunday, 04 January 2009 )

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