Massapequa Short Sale Attorney
We Proudly Serve Queens and Suffolk County
If you want to end your real estate loan obligation, a short sale may be in your best interest. A short sale is the process of selling your property but at a price less than your loan. In order for a short sale to be completed, it is necessary to obtain the lender’s approval without agreeing to unfavorable terms.
Want to learn more? Contact James J. Quail & Associates, P.C. via online form or dial (516) 246-2449. Our Massapequa short sale real estate attorney has years of experience and can provide in-depth short sale assistance.
What Are The Advantages of a Short Sale?
There are several advantages of a short sale, for both the property owner and the lender. Some of these benefits include:
- Avoiding a deficiency judgment
- Giving the homeowner the opportunity to sell the property for less than they owe on the property
- Giving the lender an alternative to a deed in lieu of foreclosure
- Helping the homeowner avoid foreclosure
- Helping the lender avoid the lengthy process that is involved with a foreclosure
- Having the homeowner better control when they have to leave the property
Extenuating Short Sales & Deficiency Judgements
The worst part about letting your property go to auction is that you could be liable for the difference that the bank loses. In other words, if your house sells at an auction outside of your control for an amount less than what remains on your mortgage, it could be you on the hook to repay the bank the rest! This is known as a deficiency judgement, which lets any lenders go to court to officially demand the remainder from you, up to its “fair market value” at the time of the judgement.
Instead, by using a short sale with the assistance and guidance of our seasoned short sale real estate lawyer, you get to dictate the terms of exit, maybe even include a clause that allows for money relocation from the buyer.
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Get Experienced Guidance with Complex Real Estate Matters
While they can be advantageous, short sales are also quite involved and can take a good deal of time to complete. There is also a lot of paperwork involved. You will have to go through negotiations with your lender and the prospective property buyer. In order to make the process of a short sale as simple as possible for you, it is in your best interest to contact a Nassau Couny short sale real estate attorney like James Quail. He years of experience with short sales and he knows how to navigate them efficiently and without adding stress to your shoulders. In many cases, short sale homes have other liens and judgements, which our firm can work to remove so they don’t haunt you.
When you retain the legal services of Mr. Quail, you will receive hands-on assistance through the entire sale process from a team that managed more than 100 short sales since 2008. We negotiate with your bank and with the prospective buyers. We also draw up your contracts and ensure that they are legitimate. In short, we make a short sale as simple as possible for you!
Contact James J. Quail & Associates, P.C. to schedule a free 30-minute consultation for short sale advice from a skilled attorney! Call (516) 246-2449.
What Our Clients Are Saying About Us
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“James is an excellent attorney. He is creative in his approach and his communication is all you could ever ask for. Highly recommend.”
- Keith M. -
“Communicates with clients. Listens and explains details in-depth. Wide range of knowledge. Always on time. Gives his clients 110% commitment.”
- Lawrence G. -
“Jim is an exceptional attorney! Detail oriented, excellent communication all around. I will use Jim repeatedly and refer him to everyone with confidence.”
- Shah T. -
“I was referred to James Quail by a friend and I can say it was the best referral ever. James and his staff are professional, responsive and most of all supportive.”
- Former Client -
“An exceptional attorney! Detail oriented, excellent communication all around. I will use him repeatedly and refer him to everyone with confidence.”
- S.T.