There are a lot of people who think that an attorney is necessary when doing a short sale, and there are also a lot of law firms today that are offering this kind of service. But do you really need to have an attorney whenever you are doing a short sale? What are the things that an attorney can do that a realtor can't? Are you required to have an attorney with you when doing this kind of process? Read on to learn more about it, as this article will be discussing more about getting an attorney and a realtor at the same time, which, obviously, will cost more money.
Do you really need to have an attorney whenever you are doing a short sale?
No you don't! You don't need to have an attorney, because everything that you need can be provided by a realtor. There are a lot of things that should be done when doing a short sale, but everything can be handled by a realtor. In fact, they can do better because they are the so-called "specialists" of real estate industry, and they are more familiar with the process compared to an attorney.
What are the things that an attorney can do that a realtor can't?
The only time that you'll need the service of an attorney is when you want to litigate the title of the property, and seek justice. You'll also need the help of an attorney whenever there is a promissory note that is included in the process. In most cases, the realtor will be the one to contact an attorney and seek for advice regarding the potential problems that a person may encounter during a short sale. Aside from these things, there is nothing that an attorney can do that a realtor can't.
Are you required to have an attorney with you when doing a short sale?
No! It is not required, since you will only be dealing with the lender. When the lender pushes it up on court, then that's the only time you'll be required to have an attorney with you. But in almost all ordinary cases, you don't need an attorney or you are not required to have one with you.
Which is better an attorney or a realtor?
It would be better if you are going to hire someone who has a track record when it comes to doing these kinds of transactions. If you are doing a short sale, it would be better to look for someone who is doing it for years. An attorney is an expert with laws, while a realtor is an expert with real estate. With that being said, getting help from a realtor would be a better option, unless you want to litigate the title of a property.