QUESTIONS HOMEOWNERS SHOULD ASK BEFORE HIRING A SHORT SALE NEGOTIATOR
- Will you be able to protect my legal rights and interests?
- Are you an actively licensed Real Estate Attorney or Law Firm (licensed in WA)?
- Do you represent banks, lenders or in any way help them to foreclose on homeowners?
- What services do you actually provide?
- Is there a limit to the number of hours or amount of time that you’ll spend on a file?
- Which party to the transaction do you represent (seller, buyer, both, neither)?
- Will you provide the seller with legal advice, if requested?
- Do you use any third parties to perform work on the file (i.e., lawyers, processors, etc.)?
- Who handles the actual negotiations with the lenders and what are their qualifications?
- What is your fee?
- Who pays your fee?
- Do you accept all short sale files or are there certain criteria that must first be met?
- Do you have a system for handling short sales? What is it?
- How often will you provide me with updates regarding the short sale file?
- How will you communicate those updates to me (email, website, telephone, fax)?
- What services are NOT included (i.e., legal advice, stopping trustee’s sale, etc.)?
- Have you or has your company ever been subject to discipline by a governmental entity, association or organization to which you belong?
- When should I begin thinking about a short sale as an option (i.e., before I miss my first payment, when I receive a Notice of Default, just before the foreclosure auction, etc.)?
- Should I contact a negotiator before I list my home for sale with a real estate agent?
- Do you have any special training or qualifications to act as a negotiator? What is it?
- Do you or does your company ever act as an investor, buyer or “flipper” on short sale transactions that you handle?
- If you or your company acts as an investor, buyer or “flipper” on the short sales that you negotiate, then how can you ethically represent my interests in the transaction?
- Do you or does your company buy properties at foreclosure auctions? Do you buy any properties that were once owned your customers?
The information contained in this document is provided by Hochman Legal Group, PLLC for informational purposes only. It is not intended to be and should not be construed as legal advice or representation. Consult tax and legal professionals for advice about your specific situation. Reproduction or use on a website or in marketing materials is not allowed without written permission.
