(PRWEB) September 01, 2011
A current survey performed by the National Association of Realtors (NAR) concluded that a lack of realtor education in the negotiation and disposition of short sales is causing a flurry of lawsuits. Brief sale disputes had been designated as the most significant legal situation facing true estate professionals today and 3 in four actual estate pros believe it will be one of the top 3 legal issues they face in the future.

According to Raffi Tal, EVP, I Short Sale, Inc., The short sale niche for realtors could be a bottomless pit unless they genuinely know what theyre performing. Negotiating a lender-authorized sales cost, compiling a full documentation package and following all disclosure suggestions is unfamiliar territory for most actual estate agents. He continued, Its undoubtedly in the realtors very best interest to seek out knowledgeable quick sale negotiators with the knowledge necessary to manage the heavy lifting otherwise, as this survey clearly demonstrates, they might put themselves in legal jeopardy.

With help from both the federal and private sectors, brief sale transactions are projected to exceed 250,000 in 2011, a 25% enhance more than the previous years. The governments House Affordable Foreclosure Option (HAFA) system continues to remove restrictions to make the brief sale choice a lot more desirable, and lenders proprietary brief sale programs are outpacing the governments applications with 113,000 recorded quick sales in the 1st quarter alone. Real estate agents find themselves unprepared for these complex negotiations and disclosure specifications that involve the lender, distressed borrower and purchaser. Not surprisingly, the outcome has fueled a spike in litigation over mishandled transactions. The very best way for realtors to stay away from expensive litigation, Tal states, is to have a strategic partnership with a short sale negotiator that has a track record of good results managing the complexities of the quick sale procedure.”

To add to the equation, realtor inexperience in negotiating brief sales is potentially protracting the negotiation procedure. A short sale transaction can take as extended as ten months or far more to finalize with much less than 20% of these transactions believed completed in three months or significantly less. The capacity to outsource the time-consuming short sale process enables realtors to focus on the a lot more profitable activities that they do very best acquiring listings and promoting properties. When you look at all of the dynamics, its simple to see why its in everyones best interest to bring in a short sale specialist, Tal concluded.

I Brief Sale, Inc. primarily based in Woodland Hills, California, has facilitated brief sales, loan modifications, forbearances, deeds in lieu and other loss mitigation solutions for home owners and lenders given that 1991. For more details, check out http://www.ishortsale.com. I Short Sale, Inc. is element of the Peak Corporate Network. As a leading authority in the genuine estate sector, The Peak Corporate Network supplies a full array of extensive true estate services nationwide including brokerage services, mortgage financing, loan servicing, escrow solutions, foreclosure processing and 1031 Exchange.

The Peak Corporate Network is not a enterprise entity the brand represents a group of related separate legal entities every single supplying its unique set of true estate services.

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