Posted on: 20th Sep, 2009 09:50 am
Is it really cost effective to hire an attorney to negotiate a deed in lieu or a short sale?
You need a real esate agent who is familiar with this process. But an attorney who is experinced in this will be better to have than dealign with bank directly
To unclebuck,
It's difficult to say whether hiring an attorney to negotiate a DIL or a short sale will be cost-effective. Sometimes, the negotiations are successful and you're able to save some amount of money out of the settlement. In such a case, hiring an attorney would be cost-effective. But the same cannot be said when the settlement offer isn't that good and you hardly save any money out of the settlement deal.
It's difficult to say whether hiring an attorney to negotiate a DIL or a short sale will be cost-effective. Sometimes, the negotiations are successful and you're able to save some amount of money out of the settlement. In such a case, hiring an attorney would be cost-effective. But the same cannot be said when the settlement offer isn't that good and you hardly save any money out of the settlement deal.
a realtor wouldn't have to be involved in a deed in lieu of foreclosure; a short sale, yes. you'll definitely need to have a good feel for the value of the home if you plan to negotiate with your lender. i don't know if an attorney would be necessarily effective or not - it's worth consulting with an attorney, but it's not a given that you'll need one.
JUst to make it clear
You need some oen who is familar with this process and have doen this before
You need some oen who is familar with this process and have doen this before
agreed - it is always advisable to receive advice from a trusted third party.
No Argumenets about that comments