Review Short Sale Contracts

Many clients hire our office simply to review the short sale agreement prior to signing to make sure that they have a good understanding of their rights and responsibilities under the contract. Many lenders require that home owners pay back all or a portion of the loan even if the house goes through a short sale. This is especially common where there is both a first and second mortgage on the property. Make sure that you do not sign a short sale contract that you do not understand. A simple contract review takes just a small amount of attorney time and usually costs just a few hundred dollars, but the peace of mind you receive from knowing your rights and responsibilities is well worth the cost.