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IVY REALTY - Premier Short Sale Real Estate Agents and Attorneys
A Short Sale is a complex negotiation involving the law, one that should not be treated lightly as the repercussions of a short sale gone bad can include being forced to file for bankruptcy (if you qualify) or otherwise dealing with a large debt possibly in the form of a judgment against you that you couldn’t afford in the first place. Experience in this field does matter. We are Real Estate Brokers/Attorneys and we have the experience you NEED to assist you with your short sale.
IVY REALTY - Premier Short Sale Real Estate Agents and Attorneys
A Short Sale is a complex negotiation involving the law, one that should not be treated lightly as the repercussions of a short sale gone bad can include being forced to file for bankruptcy (if you qualify) or otherwise dealing with a large debt possibly in the form of a judgment against you that you couldn’t afford in the first place. Experience in this field does matter. We are Real Estate Brokers/Attorneys and we have the experience you NEED to assist you with your short sale.
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IVY ESTATES Social Media and Blogs
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NOT ALL BROKERS ARE CREATED EQUAL
Not all Real Estate Brokers/Agents are created equal. We focus on the best solution for our clients. Sometimes Short Selling a home is the answer, but depending on individual client circumstances, other options be be better suited for our clients. Contact us today for a free consultation. We will analyze your particular situation and provide a solution that really works! You don't want to end up in the situations like those below:
"I'm being sued by a law firm acting for BOFA for $170k on a deficiency judgement after they received $17k from a short sale settlement that closed in 12/2010. I was "forced to sign a letter" stating I was responsible "for the unpaid balance"
... Actual web inquiry submitted by someone needing assistance now who didn't have an attorney involved before in their short sale negotiation.
"We just sold our house on a short sale, and are now being sued by our second. We need a consultation to respond to the law suit and also decide if we need to file for bankruptcy."
... Actual web inquiry submitted to the law firm by someone who didn't work with an attorney for their short sale.
Not all Real Estate Brokers/Agents are created equal. We focus on the best solution for our clients. Sometimes Short Selling a home is the answer, but depending on individual client circumstances, other options be be better suited for our clients. Contact us today for a free consultation. We will analyze your particular situation and provide a solution that really works! You don't want to end up in the situations like those below:
"I'm being sued by a law firm acting for BOFA for $170k on a deficiency judgement after they received $17k from a short sale settlement that closed in 12/2010. I was "forced to sign a letter" stating I was responsible "for the unpaid balance"
... Actual web inquiry submitted by someone needing assistance now who didn't have an attorney involved before in their short sale negotiation.
"We just sold our house on a short sale, and are now being sued by our second. We need a consultation to respond to the law suit and also decide if we need to file for bankruptcy."
... Actual web inquiry submitted to the law firm by someone who didn't work with an attorney for their short sale.
Easy. Experience. With over 500 short sales negotiated you won’t find another real estate firm and its professionals with the experience that we are offering. Simply put, experience does matter, especially when it comes to negotiating a Short Sale. We handle all of our negotiations in-house and we are involved in the day to day negotiations and operations of these important negotiations.
Many realtors in this market are claiming to be short sale experts, specialists, leaders, etc, but you will be hard pressed to find another real estate firm who has even a fraction of the short sale experience we do (we tried and we can’t find one!).
Co-owner and real estate broker Sarah Litchney is also a licensed California Attorney and CEO of a local law firm ( www.cleanstartlawfirm.com) and has been involved in negotiating short sales since the beginning of the downturn as well as practicing in all areas regarding financial and mortgage related issues including mortgage issues, bankruptcy, settlements and negotiations. She unfortunately has seen situations on a weekly basis of homeowners who used a real estate agent who appeared to be focused on their commission, advised their client improperly and the homeowner then signed a short sale approval only to later (months or even years) find out they are being sued by a 2nd or 3rd mortgage because the language in the short sale approval that they signed with the assistance of their real estate agent, allowed them to do just that.
They trusted their real estate agent, and now many of them are suing those same real estate agents. Don’t end up as one of them. Get the right representation the first time, you just get one shot at this. This may mean that you aren’t able to use your friend, family member, or neighbor to negotiate your short sale but remember this is a process wrought with pitfalls and you need the right people to help you navigate it from beginning to end.
Please see our results page for more information and to see specific examples of the exact approval letters we have obtained for our clients who needed/wanted to sell their home in this market, despite being upside down as more than 50% of the homeowners in our area are.
Easy. Experience. With over 500 short sales negotiated you won’t find another real estate firm and its professionals with the experience that we are offering. Simply put, experience does matter, especially when it comes to negotiating a Short Sale. We handle all of our negotiations in-house and we are involved in the day to day negotiations and operations of these important negotiations.
Many realtors in this market are claiming to be short sale experts, specialists, leaders, etc, but you will be hard pressed to find another real estate firm who has even a fraction of the short sale experience we do (we tried and we can’t find one!).
Co-owner and real estate broker Sarah Litchney is also a licensed California Attorney and CEO of a local law firm ( www.cleanstartlawfirm.com) and has been involved in negotiating short sales since the beginning of the downturn as well as practicing in all areas regarding financial and mortgage related issues including mortgage issues, bankruptcy, settlements and negotiations. She unfortunately has seen situations on a weekly basis of homeowners who used a real estate agent who appeared to be focused on their commission, advised their client improperly and the homeowner then signed a short sale approval only to later (months or even years) find out they are being sued by a 2nd or 3rd mortgage because the language in the short sale approval that they signed with the assistance of their real estate agent, allowed them to do just that.
They trusted their real estate agent, and now many of them are suing those same real estate agents. Don’t end up as one of them. Get the right representation the first time, you just get one shot at this. This may mean that you aren’t able to use your friend, family member, or neighbor to negotiate your short sale but remember this is a process wrought with pitfalls and you need the right people to help you navigate it from beginning to end.
Please see our results page for more information and to see specific examples of the exact approval letters we have obtained for our clients who needed/wanted to sell their home in this market, despite being upside down as more than 50% of the homeowners in our area are.
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Your Agent Can Make or Break a Short Sale
When representing a homeowner in a short sale negotiation there are several important factors that can make or break a short sale negotiation, they are;
1. Market the home quickly and effectively. Get the property the attention it needs quickly to bring the offers in at the right price, then choose the best one with the most committed buyer. Price is important though. If the offers aren't high enough or in line with their BPO (brokers price opinion) they will be rejected by the bank.
Many agents say that they will market your home, but most of the time that just means listing it on the MLS, making a flyer and putting up a sign. We take it to the next level. We utilize social media, reverse prospecting, the internet and SEO (search engine optimization) like no other real estate agents we have met do in order to benefit you in addition to all of the traditional tools used.
Co-owner and real estate broker Jason Litchney is a dual degreed Ivy League trained Engineer and software programmer who is experienced with marketing on the web and SEO strategy. Each listing we take gets its own website created (free of charge) with its property address and then relevant links and SEO strategy are performed on each website. Statistics show that over 90% of homebuyers use the internet to find a home, as such that is where our efforts are focused.
2. Pick the right offer. This has a lot to do with the type of buyer and it is not always just about the highest offer. You want a buyer who is going to stick around through the short sale process, which can be long and tedious depending on lender, number of mortgages involved, etc. You want a buyer who is truly interested in the home, not one who is going to place 10 offers and go with the first one to close, walking away from the other 9 leaving the homeowners possibly close to foreclosure and perhaps even a short sale approval...but no buyer.
3. Negotiate with the lender effectively. This involves knowing the process forward and backward and knowing the tricks to keeping a file on track and on its way to a great approval. This does not involve “beating up” the assigned lender’s negotiator, as the saying goes…you get more bees with honey, but it does require knowing when and to who to escalate issues.
4. Legal review of the approval. Just because a lender has issued a short sale approval does not mean that the homeowner is in the clear. We have seen many scary and downright illegal approval letters, it is amazing what the lenders will try to hide in an approval letter (a legally binding contract), hoping that the homeowner won’t read or understand what they are signing. Advice regarding the approval letter is a crucial component to any short sale and as the DRE recommends should only be performed by a licensed attorney, and should be one who is EXPERIENCED in short sales.
5. Dealing with obstacles with legal tactics. If an obstacle in the short sale process presents itself, you need representation that can offer you a number of ways to deal with that obstacle. Through utilization of the legal services offered by our licensed attorneys we open up a bunch of legal options that may be useful in 1. Getting an approval 2. Making sure it is an approval that protects you and 3. Postponing a sale date should one be set while negotiations are in process.
Your Agent Can Make or Break a Short Sale
When representing a homeowner in a short sale negotiation there are several important factors that can make or break a short sale negotiation, they are;
1. Market the home quickly and effectively. Get the property the attention it needs quickly to bring the offers in at the right price, then choose the best one with the most committed buyer. Price is important though. If the offers aren't high enough or in line with their BPO (brokers price opinion) they will be rejected by the bank.
Many agents say that they will market your home, but most of the time that just means listing it on the MLS, making a flyer and putting up a sign. We take it to the next level. We utilize social media, reverse prospecting, the internet and SEO (search engine optimization) like no other real estate agents we have met do in order to benefit you in addition to all of the traditional tools used.
Co-owner and real estate broker Jason Litchney is a dual degreed Ivy League trained Engineer and software programmer who is experienced with marketing on the web and SEO strategy. Each listing we take gets its own website created (free of charge) with its property address and then relevant links and SEO strategy are performed on each website. Statistics show that over 90% of homebuyers use the internet to find a home, as such that is where our efforts are focused.
2. Pick the right offer. This has a lot to do with the type of buyer and it is not always just about the highest offer. You want a buyer who is going to stick around through the short sale process, which can be long and tedious depending on lender, number of mortgages involved, etc. You want a buyer who is truly interested in the home, not one who is going to place 10 offers and go with the first one to close, walking away from the other 9 leaving the homeowners possibly close to foreclosure and perhaps even a short sale approval...but no buyer.
3. Negotiate with the lender effectively. This involves knowing the process forward and backward and knowing the tricks to keeping a file on track and on its way to a great approval. This does not involve “beating up” the assigned lender’s negotiator, as the saying goes…you get more bees with honey, but it does require knowing when and to who to escalate issues.
4. Legal review of the approval. Just because a lender has issued a short sale approval does not mean that the homeowner is in the clear. We have seen many scary and downright illegal approval letters, it is amazing what the lenders will try to hide in an approval letter (a legally binding contract), hoping that the homeowner won’t read or understand what they are signing. Advice regarding the approval letter is a crucial component to any short sale and as the DRE recommends should only be performed by a licensed attorney, and should be one who is EXPERIENCED in short sales.
5. Dealing with obstacles with legal tactics. If an obstacle in the short sale process presents itself, you need representation that can offer you a number of ways to deal with that obstacle. Through utilization of the legal services offered by our licensed attorneys we open up a bunch of legal options that may be useful in 1. Getting an approval 2. Making sure it is an approval that protects you and 3. Postponing a sale date should one be set while negotiations are in process.
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Short Sale Advantages
While lenders have been unfortunately slow to act in granting desperate homeowners principal reductions or loan modifications that are actually affordable they are warming up to short sales as a solution to less foreclosed properties in their shadow inventory.
Short sales through HAFA (Home Affordable Foreclosure Alternatives Program) enjoy an incentive payment to the homeowner of $3,000! In addition we have been able to secure for several of our clients incentive payments from their lender at the successful close of escrow in the tens of thousands of dollars (as high as $35,000 from Chase)! Short sales will be a part of our real estate terminology for many years to come in the future and it seems that lenders are finally waking up to the fact that a short sold home is better for them financially than a foreclosed home.
Having a short sale on your credit report is preferable to having a foreclosure on your credit report. In certain cases you may be able to secure an FHA minimum down payment loan immediately after a short sale.
If you sell your home through a short sale you are resolving yourself of the liability (with an appropriate approval), if however you choose to walk away and your home forecloses depending on the nature of your loan(s) and the route the lender took to foreclose you may be exposing yourself to years of collection calls, creditors, and possible lawsuits, legal money judgments, wage garnishments, bank levies and liens.
Short Sale Advantages
While lenders have been unfortunately slow to act in granting desperate homeowners principal reductions or loan modifications that are actually affordable they are warming up to short sales as a solution to less foreclosed properties in their shadow inventory.
Short sales through HAFA (Home Affordable Foreclosure Alternatives Program) enjoy an incentive payment to the homeowner of $3,000! In addition we have been able to secure for several of our clients incentive payments from their lender at the successful close of escrow in the tens of thousands of dollars (as high as $35,000 from Chase)! Short sales will be a part of our real estate terminology for many years to come in the future and it seems that lenders are finally waking up to the fact that a short sold home is better for them financially than a foreclosed home.
Having a short sale on your credit report is preferable to having a foreclosure on your credit report. In certain cases you may be able to secure an FHA minimum down payment loan immediately after a short sale.
If you sell your home through a short sale you are resolving yourself of the liability (with an appropriate approval), if however you choose to walk away and your home forecloses depending on the nature of your loan(s) and the route the lender took to foreclose you may be exposing yourself to years of collection calls, creditors, and possible lawsuits, legal money judgments, wage garnishments, bank levies and liens.
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Short Sale Specific Pages
Short Sale Specific Pages
The information on this site is not, nor is it intended to be, legal advice. Please contact us to obtain legal advice pertaining to your situation.
* DISCLAIMER
The transmission of information by this Website does not create an attorney-client relationship with Sarah Litchney or any of her law firm’s attorneys. The relationship would require direct contact between you and the firm through one or more attorneys, and would also require a written attorney/client agreement that confirms that a relationship is established for legal services to be provided, and the terms of that relationship. The invitation to contact the firm is not a solicitation to provide professional services, and should not be construed as a statement as to the availability of any attorneys to perform legal services in any jurisdiction in which such attorney is not permitted to practice.
None of the communications transmitted via the Website constitutes a confidential communication, or creates an attorney-client relationship. This Website contains information on legal issues, and is not a substitute for legal advice from a qualified attorney licensed in the appropriate jurisdiction.
Any mention of legal services/experience on this website is made in association with Sarah Litchney, Esqwho is a licensed California attorney and all legal services if retained for are provided for under a separate agreement with her or the attorneys of her law firm and are completely separate from any real estate services or negotiations to be provided under the brokerage.
We are listed in Sacramento Top 10
The information on this site is not, nor is it intended to be, legal advice. Please contact us to obtain legal advice pertaining to your situation.
* DISCLAIMER
The transmission of information by this Website does not create an attorney-client relationship with Sarah Litchney or any of her law firm’s attorneys. The relationship would require direct contact between you and the firm through one or more attorneys, and would also require a written attorney/client agreement that confirms that a relationship is established for legal services to be provided, and the terms of that relationship. The invitation to contact the firm is not a solicitation to provide professional services, and should not be construed as a statement as to the availability of any attorneys to perform legal services in any jurisdiction in which such attorney is not permitted to practice.
None of the communications transmitted via the Website constitutes a confidential communication, or creates an attorney-client relationship. This Website contains information on legal issues, and is not a substitute for legal advice from a qualified attorney licensed in the appropriate jurisdiction.
Any mention of legal services/experience on this website is made in association with Sarah Litchney, Esqwho is a licensed California attorney and all legal services if retained for are provided for under a separate agreement with her or the attorneys of her law firm and are completely separate from any real estate services or negotiations to be provided under the brokerage.
We are listed in Sacramento Top 10
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