Dallas Real Estate Short Sales Negotiation
Texas Short Sale Lawyers
Given today’s economic climate, “short sales” may offer the best alternative to a client in a distressed real estate situation. A “short sale” is the sale of a property for less than the amount owed to the bank.
The Lonergan Law Firm, PLLC, offers a unique, turnkey solution to anyone involved in a short sale. Whether you are a homeowner in a pre-foreclosure situation, a realtor trying to help a client sell a property, or an investor who wants to buy a short sale property, you will find that our short sale services pave the way for a successful transaction.
Legal and Real Estate Advice to Create Short Sale Solutions
Our short sale team includes not only real estate attorneys, but also real estate broker Gaylene Lonergan. Ms. Lonergan has years of experience handling mitigation services for national retail banks, private mortgage banks and mortgage insurance firms.
At the Lonergan Law Firm, when working with a short sale property, we conduct contract review and can assist with contract drafting. We also resolve the frequent title matters which arise in connecdtion with short sale properties. All issues surrounding a short sale transaction are reviewed and analyzed. We handle short sale negotiations with the bank and work to minimize liability.
The Benefits We Bring to Your Short Sale
- Speedy service: If you are in a pre-foreclosure situation, time is of the essence. We handle delicate short sale negotiations with the bank in a timely manner.
- Success rate: We are both efficient and effective in achieving short sales. While many negotiators report that they have been able to get the bank to agree to a short sale about 50 percent of the time, we are currently succeeding in 70 to 80 percent of our cases.
- Limiting liability: A short sale can put the seller (and other parties to the transaction) at risk of losing money through a deficiency judgment because the bank is getting paid less than it is owed. In many (though not all) cases we have been able to negotiate away that financial liability.
- Solid legal footing: With short sales, the advice you need is often a mix of real estate insight and legal counsel. Realtors can feel safe relying on the advice we provide because our staff comes from both positions.
Our Dallas offices are located near three of the largest loan processing and loss mitigation centers in the country: Bank of America, GMAC and EMC (a subsidiary of Chase). This makes it extremely convenient for our firm to represent clients in the Dallas Fort Worth Texas Metro area with short sale contract negotiations.