Short Sales

Brokers:

Real Estate Professional,

Thank you for your interest in the Bay View Law Group and the short sale negotiation services that our law firm provides. In addition to our real estate legal services, we also provide a comprehensive mitigation service to aid homeowners in the process of avoiding foreclosure through the process of short sales.

Our staff consists of attorneys, case managers, and negotiators - all working on behalf of your clients to aid them in the short sale process. Our legal expertise and experience ensures that your borrowers get the most protection throughout the short sale transaction. In addition, your liability as a real estate professional and that of your real estate office is limited when you have an experienced attorney involved in the transaction. All of our staff has obtained the necessary required licenses to legally handle your client’s transaction.

We don’t share in your commission. We are paid through direct negotiations with the seller’s lender(s) based upon a Seller Paid Credit. We understand that you work hard to earn your commission and we are committed to working diligently to structure our fees so we can protect your commission in the case the lender’s approval requires a lower real estate commission.

Key Benefits to Working with BVLG Short Sales:

We are not paid through your commissions; we negotiate our fees directly from the seller’s lender.
Since we are an attorney firm, your clients get the most protection allowed.
As an Agent, your liability is limited when you have an experienced attorney involved throughout your short sale transaction.
As a Managing Broker or Owner, you can rest assured that your Agents are working within the confines of the law without exposing you to additional risks.
National network of experienced attorneys are able to assist in Short Sales nationwide.
Experienced in working with all major lenders throughout the nation.
Attorneys, Case Managers, and Negotiators are all legally licensed to handle your files.

Negotiation Services:

We provide comprehensive mitigation services and our legal experience ensures that your borrower gets the most protection allowed. In addition, your liability as the real estate agent is limited when you have an experienced attorney involved in the short sale transaction.

We work with every major lender and loan servicer in the United States. Due to our length of time in business, and repeated contacts with lenders, we have inside track relationships that allow our files to be processed quickly and efficiently. Our staff consists of Attorneys, Loss Mitigation Case Managers, and Negotiators. Our staff is legally licensed to work on short sale files according to state requirements. Our staff are experienced professionals who work full-time directly with lenders. They are experienced on the procedures of every major lender in the US.

Homeowners:

Completing a Short Sale transaction can be a confusing and frustrating experience for home sellers and home buyers alike. Many real estate agents simply don’t have the hands-on experience and expertise or time required to manage the negotiation process with the seller’s lenders.

With the increase in the troubled housing industry, we have seen more homeowners that need to sell their home, but are unable to do since they owe more than what they can sell the home for due to the required closing costs and mortgage debt owed on the home. Short sales have become the answer to which homeowners are turning to avoid foreclosure. Due to the complexity and potential legal and financial impact of short sales, many real estate agents and home sellers recommend and work with the Bay View Law Group.

One of the challenges in working with Short Sales is that each lender has their particular protocol for handling short sales which makes it challenging to stay on top of these ever-changing guidelines. Some lenders have made giant leaps forward in their internal processes, while others are buried under mountains of paperwork. As a result, the process times vary dramatically. We have seen some transactions take as long as 9 months, while others take only 6 weeks to complete. Typical results are between 3-5 months to receive written short sale approval from the date that a full short sale packet has been submitted to the lender.

One of the benefits in working with the Bay View Law Group is receiving legal counsel regarding your options. It is not uncommon for lenders to slip verbiage into contracts at the last minute that could result in the home seller committing to further financial obligations. In some cases, these obligations exempt the seller from including this debt in a bankruptcy should the seller need to file as a result of financial circumstances. Bay View has the ability and insight to protect homeowners from these hidden clauses.