Should Real Estate Agents Negotiate Short Sales?
No. Absolutely not. It is inundated with legal issues, risks, deficiency issues (amounting to tens or hundreds of thousands of dollars of liability to the seller), tax implications which can be huge, foreclosure attorneys that need to be dealt with, bankruptcy courts/attorneys, divorce attorneys, U.S. attorneys in the release of tax liens, collections agencies, debt collector law firms, mortgage fraud, fraudulent short sale transactions by the buyer, etc.
Giving advice as to legal issues from a non-attorney is the Unauthorized Practice of Law, a Class 1 misdemeanor. Furthermore, an agent’s Errors and Omissions policy would typically exclude any unauthorized practice of law.
When Should an Attorney Get Involved and What is the Fee?
A qualified attorney should be involved in the transaction immediately. We receive numerous sales agreements from real estate agents who have spent a lot of time and money on their listing only to become frustrated when we inform them that the transaction cannot be negotiated. The reason you hear horror stories of short sales taking forever is that the real estate agent failed to qualify the transaction through an experienced attorney. Do not end up like one of the daily agents we speak to who have wasted their time and money on a hopeless sale!
There is NO consultation fee whatsoever and we’ll give a stress-free consultation to whomever you’d like in order to ensure you concentrate your effort towards worthy endeavors. Contact us to schedule your free consultation today.
Why Use Kayser Law Center?
Here are a few things to consider:
- You cannot navigate, negotiate, and advise a seller in a short sale without giving legal advice
- A law firm can better save a short sale if a foreclosure sale is imminent
- A law firm can navigate bankruptcy proceedings and still get the short sale done
- A law firm provides a legal opinion as to legal bank documents/approvals, deficiency issues, promissory notes, cash contributions, and tax implications
- As an agent, your job is to make transactions, not spend endless hours negotiating with a bank bureaucracy trying to know together a deal
- We can ensure you receive your maximum commission
- We can get your deal closed without having to pay us a dime from your full commission
- Short Sales are all we do
Our short sale law firm accelerates the process to complete a short sale in many ways. If 80% of the listing agent’s time is dealing with the bank and 20% is dealing with the marketing and selling of the property, which is backward for the agent. Kayser will take that 80% from you and place you in the best position to get your deals closed. An agent markets and sells real estate. If they now have to quadruple their hours in order to get a short sale done, that’s not an efficient use of their time. Many agents using Kayser have multiple short-sale deals pending. They were able to ramp up their short sale listings exponentially and substantially increase their business.
Kayser sees a lot of last-minute business from agents who are involved in a short sale but find a foreclosure sale date looming and can’t get it stopped. Dealing with banks to get a sale date stopped is not easy. It is not a quick phone call – it’s calling day after day. This is one of the many areas where the team at Kayser excels. Kayser doesn’t stop with the banks; they go right to the foreclosure attorneys here in St. Louis to get the job done. In sum, we use every tool they have and are tenacious at getting these foreclosures stopped.
For a FREE consultation about short sales, contact us.