Short Sales and Foreclosures
Deciding whether to put your home up for sale or allowing a foreclosure process to go through can be a difficult decision. There are implications to both, and they always include cutting losses or reducing tax obligations. This dilemma is common when a home owner is facing financial distress and a potential bankruptcy. Many individuals have no option is certain situations when creditors will not stop the foreclosure and they cannot qualify for a Chapter 13 filing to protect the home investment. Putting the property up for a short sale could be the only option available for some homeowners. But, it is always good to have some type of legal representation and consultation when this is happening, which is exactly what homeowners will find when conferring with Olen Law Office real estate lawyers in Bucks County PA.
Selling a home to the highest bidder does not always work out well for the owner, regardless of how many people are interested in buying. There are indeed many home flippers out there who will make the purchase, but they also understand when they have the upper hand in price negotiation. Avoiding a foreclosure can be very important for some individuals who are choosing between the two, and many short sale purchasers actually only buy in these desperate situations. The real estate lawyers at Olen law Office in Bucks County Pa can help in maintaining a strict adherence to a price point and intervene as a professional negotiator on behalf of the owner who is being forced to sale.
Sometimes foreclosure can be the best option, or even the only option when the home does not sell. The outstanding debt can be too overwhelming in some cases to allow unloading the home before a foreclosure is final. Mortgage agencies rarely actually want a house back, but instead would prefer some type of agreement that makes the account current at some point. An experienced real estate attorney can often broker a deal that works to the benefit of all involved, or at least to the client who is losing a property.
Anyone in the Fairless Hills PA area who is facing a foreclosure or potential short sale should contact Olen Law Office real estate lawyers in Bucks County PA for an in-depth consultation regarding selling their home.