If you want An Attorney’s Advice when doing a Short Sale listen up

    Another Santa Clarita Short Sale scenario from the Paris911 Team short sale files.

    An Investor client had 5 properties that he was losing his tail on. Some of the reasons for the seller’s hardship were, Renters and tenants that were not taking care of their end of the bargain. The “seller” became ill with personal medical issues, the seller was laid off from work and everything in his life started to fold in on him and his family.

    The short sale interview went well. We suggested he seek council from an attorney and to talk with his tax advisor.

    A few days passed and we received an email from our prospective client with a list of changes that his attorney wanted to the Short Sale Contracts. After looking over the list, Paris made a comment, “There is no way this list had it’s origination from a Real Estate attorney…”

    She could easily tell. After conducting a follow up call to the potential SCV short sale seller, we had some concerns of our own. After addressing the concerns we had, with the changes wanted by the “non real estate attorney”, it was revealed by the short sale seller that this was not a real estate attorney.

    Reminding the reader that the only contracts that were sent were “standard, California Association of Realtor Short Sale contracts”, some of the changes that the attorney wanted would have created “harm” to the seller. One such change was the reduction of “contract length” from 6 months to 3. If we are in a binding contract with a buyer on one of the sellers short sales, and if the contract expires, this could create an issue with the Bank who is in the process of approving the short sale.

    With the Debt Forgiveness act not having been renewed at the time of this post – time is of the essence…

    Get good advice – check out the post we just did on the Short Sale collection departments from the banks – it is a good listen. We used our Sound-cloud embed for this show.

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    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.

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