California Short Sale Law

California Short Sale Law

What is California Short Sale Law?

California Short Sales are also known as the alternative to foreclosures. A short sale in California is the process of taking an existing secured real property mortgage and reducing it to equal or less than the actual market value of the property, depending on the current market value. In a short sale transaction, the secured lenders and mortgage holders agree to reduce their mortgages and in exchange allow the home owner to sell the property at a reduced price. Even though the home owner will receive little or no money, they benefit by avoiding a real property foreclosure from being on their record. The buyer will also benefit by having the chance to purchase real property with reduced value compared to market prices.

California Short Sale Lawyers:

California Short Sale transactions can be tricky and turn into a mess for the home owner and buyer. If not properly addressed before-hand, a short sale transaction can have legal consequences and lead to loss of investments. California short sale transactions should be carefully considered and terms should be outlined in order to avoid future litigation. Seeking the advice of a qualified short sale lawyer is recommended in this case. A real property lawyer can assist in reviewing the terms and conditions, negotiating disputes and creating/completing a short sale transaction for home owners and buyers. A lawyer is a good resource to have for minimizing risks for potential problems.

Lawyer Referral Service:

If you are considering or are in the process of making a California short sale transaction and need the assistance of a short sale lawyer, call Attorney Search Network. Attorney Search Network can help you locate a real property lawyer near you who can help you with short sale transactions.

If you have any questions about the information provided above, please contact us. Call us toll free at (800) 215-1190 or fill out out online form for your California Short Sale lawyer referral.