Bradford Miller Law, P.C. Chicago Real Estate Attorney, Chicago Short Sale Attorney: What is a Real Estate Short Sale?

Thursday, March 17, 2016

What is a Real Estate Short Sale?

A short sale occurs when the proceeds from selling the property falls short of paying the balance of debts secured by liens against the property. For example, if a person owes $250,000 on their mortgage but the property is only worth $200,000, there will not be enough money to pay off their debt (the mortgage). If the property owner cannot afford to pay back the liens’ full amounts, a short sale may be an option for them.

If you are thinking about doing a short sale, contact our office for a free consultation!

Posted by Bradford Miller Law, P.C.

Real Estate Law, Landlord Tenant Law, Estate Planning

134 N. LaSalle, Suite 1040 Chicago, IL 60602
312-238-9298
http://www.bradfordmillerlaw.com/

Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Chicago real estate attorney, Chicago real estate lawyer. This is intended to be advertising. Please consult with an attorney before acting on any information given here.

FREE SHORT SALE HELP

Are you "under-water" in your home? Do you owe more then the property is worth? You should consider doing a short sale. Chicago short sale attorney Bradford Miller offers free legal representation to homeowners doing a short sale. The first step is to call Attorney Bradford Miller for a free 15 minute phone consultation. If we accept you as a client, our representation will be free to you and its possible you will even receive some money to help you relocate. Homeowners should know what their options are and what to expect. Call Mr. Miller today at 312-238-9298.

CHICAGO REAL ESTATE LAW BLOG

Bradford Miller Law, P.C. focuses on real estate law, landlord tenant law and estate planning. This is the chicago real estate law blog. If you are interested in reading about landlord tenant law, visit that blog at http://chicagoltlaw.blogspot.com/. If you are interested in estate planning, visit http://chicagoestateplanning.blogspot.com/. The law firm's main website is www.bradfordmillerlaw.com.

This blog will focus on real estate law in the Chicagoland area. Topics include real estate transactions ("closings"), closing costs, and real estate taxes, among other things.

Helping people in this distressed real estate market

Whether you live in Chicago, Berwyn, Orland Park, Naperville, or another suburb, Bradford Miller Law, P.C. can provide the legal representation you need. Short sales are becoming more and more prevalent, currently making up approximately 35% of the market. Sellers need to understand what a short sale is and what the consequences may be. Mr. Miller offers a free 15-minute phone consultation to any homeowner contemplating a short sale.

Bradford Miller Law, P.C. also offers representation to traditional sellers. Sellers can find a variety of information at http://www.bradfordmillerlaw.com/ under the "Sellers" section. Mr. Miller offers a free 15-minute phone consultation to any homeowner looking to sell their property.

Buyers, and especially investors, are taking advantage of the real estate market. Bradford Miller Law, P.C. offers comprehensive legal representation when making a purchase. Call for a free 15-minute phone consultation.