Short Sale Attorney (Chicago, Arlington Heights, Arlington: short sales, lender, attorneys)

[Eusibius2]

Hello,

I'm looking for a reference for attorneys with experience in short sales. I'm putting together an offer for a short sale this week and would like to know that I have an attorney with experience in these. The house is located in the NW suburbs of Chicago (Arlington Heights, 60004).

Thank you!

[chet everett]

Short sales are generally not going to be helped by an attorney get involved too soon.

The skills and knowledge you need are better handled by a buyers agent that can present your offer in the best possible light to the seller of the home, and enlist their help / the help of their agent in presenting this to the lender.

The more you know about the seller, and their situation, the greater the likelihood of success. If your buyer's agent is not up to speed on the various liens that the seller has, and the subordination of these, and the competitive properties on which the seller set their price / the price the lender will likely want to see, an attorney is not going to help.

If you do get to the point where the offer is approved by the seller and their lender your attorney would not really need to do much more work than regular buyers's attorney review & closing.


If you were trying to short sell a property you WOULD be wise to seek an attorney to work out the details of debt forgiveness and such BEFORE you wasted time with the lender, but that is NOT something that you need to worry about...

[Eusibius2]

With all due respect, I believe in this market the more people you have with experience in short sales the better. Since I don't have ANY attorney lined up at the moment, I'm interested in getting recommendations from those who may have some. The more the merrier!