Some of my clients hire lawyers to negotiate their short sales in Sacramento. Do you need a lawyer for a short sale? Sometimes. Well, you should always get legal advice no matter what but some situations call for legal representation on the negotiation side. For example, there are certain situations in which a seller might have assets to protect or require a waiver against a deficiency judgment. Some releases of personal liability can be difficult to obtain without legal assistance.
But if a client calls and asks me, I'll always give the straight scoop. I can tell by asking a few questions and looking at the property in the tax rolls. Some short sales a lawyer should probably negotiate, some not.
I am personally negotiating this short sale. For 2 reasons. The first is nobody else will probably list this condo because there is not enough money in the commission for the average Sacramento short sale agent to tackle. The seller asked me why I was handling the short sale for him when my fee is peanuts, and I told him the truth. Because nobody else will and I can't let him lose this to foreclosure, and because I especially enjoy negotiating Bank of America short sales. I'm a sick puppy, what can I say?
This is a 2-bedroom, 2-bath condo in Rancho Cordova. It's more of a townhome style with a halfplex feel to it. There is a unit attached on the west but the garage separates the unit to the east. It features a living room, half bath, kitchen and dining room on the first floor. The second floor has two bedrooms joined together by a full bath. The bath has two rooms.
Each bedroom has a ceiling fan and a lot of closet space. Although, the bedroom at the back has an entire wall of closets. The bedroom at the front is somewhat bigger but not as much closet space. Your choice.
The kitchen has a refrigerator, a newer gas stove and somebody left a microwave on the counter for you. There is also a washer and dryer in the garage. It's in pretty much move-in condition.
2720 La Verta Court, Rancho Cordova, CA 95670 is offered exclusively by Lyon Real Estate as a short sale at $52,000. For more information, call your Sacramento short sale agent, Elizabeth Weintraub, at 916 233 6759. For a private showing, call Barbara Dow, at 916 761 7398. HOA dues are $255 a month.
Photos: Elizabeth Weintraub
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Certified HAFA Specialist
My Sacramento Real Estate Listings
Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.
The Short Sale Savior, by Elizabeth Weintraub, available at Amazon.com.
Lyon Real Estate is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.
The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate.
Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice. It could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.
Elizabeth ... It's amazing that some buyer could get a Rancho Cordova condo for price range of $52k at short sale. I like that you are negotiating the short sale yourself and that you don't need a separate negotiator.
I do not believe that a short seller needs to hire and use a lawyer to negotiate that sale. Even though such seller should consult with counsel on legal rights and responsbilities, the negotation services should be handled by the listing Realtor agent or separate 3rd party negotiator, not a lawyer.
Amazing low price Elizabeth and I would not have believed it unless you showed it to me. Glad you are fighting for the little guy.
Elizabeth, Sometimes it is not about the money. We do take on the ones that most people would cast away. What they are missing is taking care of someone and building referral business. We have approval on a condo for $60K and working on another one for $85K. Of course the $600k ones make up the difference! Good for you and I know your clients have the best agent to help them.
I've got one of those Short Sales that other agents would probably turn their nose up at right now. It's just one more notch in the belt, right? A good Short Sale Agent never turns down a Seller in financial distress.
Hi Elizabeth, Well, someone has to do it and I'm glad he's hired the best in the area. I cannot believe the price, I thought your were missing a digit there!
Well, what the photos don't really show is the GFI is tripped in the condo somewhere and none of the lights go on. Good thing I have an external flash for my camera.
And yes, Mary, it would be nice to be missing a digit on this one since I'm paid on the sales price and not the job. But the end result is generally the same on every one of my short sales. Release of personal liability.