Short sale: when to hire an attorney vs just an agent?

[docawk]

Originally Posted by Silverfall

Is your agent a rookie?

I'm beginning to wonder that myself!

[Okey Dokie]

There is no rhyme or reason in short sales. Our present home had been under contract for a short sale(not us), and the file was languishing on someone's desk awaiting approval. The foreclosure guys went ahead and foreclosed and put it on the market for $25,000 less than the short sale amount. We swooped in and bought it, probably to the chagrin of the poor short sale folks. I believe there was only a first mortgage involved.

[docawk]

Time for an update: I let my realtor know that I had contacted an attorney for advice. My realtor quickly got in touch with the seller's agent, who was VERY fast in letting me know how the sale is progressing. From the documents I received, it seems that the sr and jr lien holders are negotiating the proceeds of my original sale price. Keeping my fingers crossed...

[jasonconferido]

For me, needing an agent to help you purchase a property is different from needing an attorney to help you in making legal decisions. As you know, agents may SOMETIMES be misleading or SOMETIMES do not have the complete information, not to mention that they do not have much knowledge about the legalities of complicated cases. Thus, I suggest that you hire an attorney just to have peace of mind.