If you are about to sell your home as a short sale, there are several different reasons why you want to have an AZ real estate attorney by your side throughout the duration of the transaction. Sure, you have your real estate agent there to help you out along the way but there are things that an AZ real estate attorney can do that a real estate agent cannot.
For example, real estate agents have no legal training, aren’t licensed as AZ real estate attorneys and often don’t have the knowledge needed to address issues that can come up during the short sale process. Short sales are a completely different animal when compared to a traditional real estate transaction; there are often many issues that come about with short sales, such as contract disputes, tax liabilities, deficiency negotiations and bankruptcy protection. Hiring an AZ real estate attorney from the beginning will ensure that these issues get resolved as quickly and as efficiently as possible. In fact, even the Arizona Realtor Association recommends hiring an AZ real estate attorney to help you with the short sale process due to a number of legal ramifications that could arise for the seller.
Having an AZ real estate attorney in your corner will also guarantee that you understand what the risks associated with your short sale are. While many sellers hope that their agent gives them full disclosure and is honest about the short sale process and its impact on their lives, that isn’t always the case simply because their commission is at stake. With an AZ real estate attorney, their paycheck isn’t dependent on whether you complete the short sale process or not so their best interest truly is in helping you understand the full aspect of the short sale process. An AZ real estate attorney has a fiduciary responsibility to make sure you understand the liabilities you face with a short sale; this isn’t the case with real estate agents.